Thursday, 25 December 2014
Last updated 1 day ago
May 13 2008 | 9:02am ET
New York-based D.B. Zwirn & Co. may wind with an unusually diverse roster of employees next month.
The hedge fund is favored to wind up in control of TVT Records, the rap- and hip-hop-heavy independent record label trying to battle its way out of bankruptcy. D.B. Zwirn could even wind up as the label’s majority owner after a scheduled June 12 auction, which could attract up to 30 bidders.
But D.B. Zwirn, which manages some $4.2 billion, is said to have something of a head start, as the holder of $9.7 million in secured loans to TVT, the New York Post reports. TVT went into Chapter 11 bankruptcy protection in February after losing a $9.1 million court verdict over another record label’s release of early recordings from its top act, rapper Pitbull.
TVT, which was named Billboard Magazine’s top independent label from 2001 through 2006, has at one time or another been the home of such hip-hop icons as Snoop Dogg and Lil’ Jon, as well as reggae superstar Bounty Killer and other top acts, including Jurassic 5, Nine Inch Nails and Sevendust.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.