Sep 14 2006 | 12:00am ET
Coast Asset Management is making changes to the ownership structure of its $240 million Coast Special Situations Fund, which the firm launched in May of 2003.
According to a source close to the firm, under the original agreement, Brian Selmo, manager of the fund, was seeded by Coast, and now that his fund has performed well and has a track record, both Selmo and the firm felt the time was right to revisit the agreement.
“It is a simple equity transfer. Now Coast will become an equity owner,” said the source, who spoke on condition of anonymity. “The changes are that the economics are more focused toward Brian.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…