Tuesday, 16 September 2014
Last updated 4 hours ago
Jan 22 2014 | 12:47pm ET
Hedge and private-equity funds may ride to the rescue of a debt-ridden Puerto Rico—but at a huge price.
The U.S. territory is struggling to show that it can still borrow money while dealing with high unemployment and a huge debt load, and it may be forced to turn to the alternative investments industry. With the municipal bond market shying away from the island, Morgan Stanley has begun to drum up interest from about a dozen hedge funds, private equity firms and other investors to provide as much as $2 billion in financing.
That money would not come cheap: Puerto Rico could pay yields of up to 10%, twice the going rate in the muni market for highly-rated governments, The New York Times reports. The newspaper noted that the talks remain fluid.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?