Monday, 22 September 2014
Last updated 2 days ago
Dec 13 2007 | 9:22am ET
New York hedge fund giant Eton Park Capital Management is going around the world to buy a piece of a mutual fund. The US$10 billion hedge fund agreed to pay $127 million for a 5% stake in India’s largest mutual fund manager, Reliance Capital Asset Management.
The deal, which values Reliance at about US$2.5 billion, will inject capital into the firm as it prepares to launch an overseas fund targeting foreign institutional investors, the Financial Times reports.
For its part, Eton Park founder Eric Mindich said, “We share Reliance Capital’s excitement on the growth prospects of the industry.”
Reliance manages about US$20 billion in assets, up from just US$100 million six years ago. All told, assets under management in the Indian mutual fund industry have soared 60% since January.
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.