Tuesday, 5 May 2015
Last updated 1 hour 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…