Tuesday, 23 September 2014
Last updated 12 hours ago
Mar 31 2008 | 9:35am ET
The world’s largest publicly-traded hedge fund is joining the alternatives cavalcade to credit. The Man Group said today that it will take a 50% stake in New York-based Ore Hill Partners, which manages some $3 billion in credit hedge funds.
The deal, which includes Ore Hill taking a 50% stake in Man’s European credit group, Pemba Credit Advisers, is to be financed by US$195 million in cash and US$40 million in new Man shares, Man said.
“This development is part of Man’s strategic plans to expand the range of its investment products,” Man said in a statement. “Ore Hill will be the platform to develop a leading multi-strategy credit business globally.”
Ore Hill co-founders Ben Nickoll and Fritz Wahl will lead the new joint effort, with Mark Mink, who heads US$3.7 billion Pemba, leading the group’s European business.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.