Cerberus-Controlled Japanese Bank Burned By Hedge Funds

Jul 31 2008 | 12:22pm ET

A Japanese lender controlled by private equity firm Cerberus Capital Management is having difficulty with another part of the alternative investment world.

Aozora Bank blamed its hedge fund investments in part for its plummeting fiscal first-quarter profit. The firm said today that net income fell to ¥9.33 billion (US$86.6 million), down 75% from the ¥37 billion it made a year earlier. A decline in fees collected was also noted as a cause of the shrinking profit.

Cerberus earlier this month struck a deal to pay as much as US$416 million to raise its stake in Aozora to 46%.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note