Tuesday, 28 April 2015
Last updated 9 hours ago
Apr 25 2008 | 11:57am ET
BlackRock’s foray into the world of listed fund of hedge funds products has been decidedly disappointing.
The firm’s BlackRock Absolute Return Strategies raised just US$275 million in its initial public offering on the London Stock Exchange. BlackRock had hoped to raise as much as US$500 million.
The listed fund gives investors access to the firm’s flagship fund of funds, the Appreciation Strategy, which it acquired from Quellos Group last year. Appreciation returned about 12% last year, and BlackRock boasts that it has never posted a negative calendar-year return since its inception 12 years ago.
BARS began conditional trading yesterday, with unconditional trading commencing on Tuesday. The fund was offered in dollar, euro and pound Sterling shares, with the latter being by far the most popular in the IPO, accounting for almost 70% of the shares purchased.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…