Thursday, 18 September 2014
Last updated 3 hours ago
Mar 7 2014 | 3:05am ET
Third Point’s proxy battle against Sotheby’s has won the backing of another hedge fund critical of the auction house.
Marcato Capital Management plans to support Third Point’s three nominees to the Sotheby’s board, including Third Point founder Daniel Loeb, Bloomberg News reports. The hedge funds own more than 16% of Sotheby’s shares.
Both Marcato and Third Point have called on Sotheby’s to bolster its share price and return capital to shareholders. Marcato has focused on Sotheby’s real estate holdings, while Third Point is seeking the ouster of CEO William Ruprecht.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.