Thursday, 26 November 2015
Last updated 18 hours ago
Apr 25 2008 | 11:38am ET
MF Global, the former derivatives brokerage of Man Group, is turning to its last resort.
The firm, beset with losses and a plummeting stock price since a trader lost $141.5 million on “unauthorized” wheat trades in February, is in talks with private equity firms about selling $200 million in convertible debt.
MF Global has approached at least three p.e. firms, Bloomberg News reports, and is being advised by Lazard.
In the wake of the wheat trading loss, MF Global CEO Kevin Davis said the firm was reluctant to issue convertible bonds.
“We have no plans to issue convertible debt,” Davis said on Feb. 28. “We would regard that as being a last result.”
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…