Tuesday, 23 September 2014
Last updated 1 hour ago
Oct 15 2007 | 12:37pm ET
Gottex Fund Management is the latest hedge fund firm on its way to market.
The US$13.3 billion Swiss fund of hedge funds shop is set to go public with a listing on the SWX Swiss Exchange. The firm plans to sell 30% of itself in the initial public offering, with past and current management retaining the remaining 70%.
The firm said no management departures are expected in the wake of the share sale. Management will invest half of the proceeds in its funds, and current managers will hold their shares for at least one year, and thereafter will sell only in stages over the following three years.
Morgan Stanley is the global coordinator of the IPO, and joins with Goldman Sachs and Credit Suisse as joint bookrunners. Citigroup has been named lead manager and co-bookrunner, with Swiss bank Zürcher Kantonalbank as co-manager.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.