Thursday, 26 November 2015
Last updated 13 hours ago
Mar 13 2008 | 8:49am ET
Amid speculation that Washington Mutual is nearing a recapitalization deal, one London hedge fund is moving in to ensure it gets a piece of the pie.
London-based Toscafund Asset Management has offered to be part of any consortium making a capital infusion into Washington Mutual, the largest savings-and-loan institution in the U.S., according to The Wall Street Journal.
Toscafund already owns a large stake in WaMu, which has been battered by the credit crisis, and reportedly fears that a recapitalization may dilute its stake in the firm.
The US$8 billion hedge fund group’s move is seen as a preemptive strike, staking the claim that existing investors should have the opportunity to participate in any recapitalization plan.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…