Friday, 26 December 2014
Last updated 1 day ago
Jul 31 2008 | 2:00am ET
Lone Star Funds has agreed to buy $30.6 billion in collateralized debt obligations for pennies on the dollar from Merrill Lynch.
The $23 billion Dallas-based private equity firm will pay just $6.7 billion for the securitized loans, less than one-quarter of their face value. The deal accounts for $4.4 billion of the $5.7 billion in third-quarter writedowns taken by Merrill on Monday. The writedown finances about 75% of Lone Star’s purchase, Merrill said.
Lone Star recently raised two funds with $10 billion in commitments.
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.