Tuesday, 28 April 2015
Last updated 21 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.
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…