Toscafund Stakes Claim To WaMu Recap

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.

 


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note