Wednesday, 25 November 2015
Last updated 13 min 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.
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…