Sunday, 21 December 2014
Last updated 5 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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