Wednesday, 27 August 2014
Last updated 2 hours ago
Mar 4 2008 | 1:00am ET
Investors have extended a $100 million lifeline to a Colorado hedge fund battered by bad bets on municipal bonds last week.
Blue River Asset Management raised the new funds from both exiting and new investors in an effort to stave off collapse. The firm was forced into a fire sale of assets after its Muni Bond Opportunity Universal Unit Trust suffered big losses in the municipal bond market late last week; some of the new money will be used to buy the assets the firm was forced to sell. Nor, apparently, is the firm done raising new cash.
Blue River was betting on a rise in long-date munis, but last week saw prices fall and spreads soar to record levels, The Wall Street Journal reports.
JPMorgan Chase said it help orchestrate the bailout, and that it was working to help Blue River raise more new money.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...