Tuesday, 21 October 2014
Last updated 4 hours ago
Jun 24 2014 | 10:12am ET
Investor appetite for financial-services companies may be on the wane, if the Carlyle Group’s fundraising difficulties are any indication.
The private-equity giant has closed its second financial services fund with just $1 billion, less than it raised for its first fund in 2010 and just half the $2 billion it established in 2012. The markedly lower expectations are due to the European Central Bank’s efforts to avoid sovereign defaults and to protect the continent’s financial system, Bloomberg News reports.
“We believe the fund is scaled appropriately to the opportunity set,” Carlyle spokesman Randall Whitestone said. Those opportunities are to be sought in asset management, insurance, technology and business services, with a focus on those created by the European debt crisis, new regulations and growing affluence in emerging markets.
Carlyle’s first Global Financial Services Partners fund has enjoyed an internal rate of return of 11%. The firm’s financial-services group is led by UBS veteran Olivier Sarkozy, the half-brother of former French President Nicolas Sarkozy.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...