Tuesday, 29 July 2014
Last updated 3 hours ago
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%.
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…