Friday, 19 September 2014
Last updated 13 hours ago
Nov 5 2008 | 3:07am ET
Toronto-based Salida Capital Corp.’s flagship hedge fund lost more than one-third of its value last month, as the value of its private equity investments collapsed.
The firm’s Multi Strategy Hedge Fund, which has fallen 63% this year to just C$76 million (US$65.7 million), blamed the declines on renegotiated mergers, which forced it to write down the value of its p.e. portfolio by more than 40%. One-fifth of the fund’s assets are in private equity.
“The current market environment has been one of the most painful we have seen,” CEO Courtenay Wolfe, chief investment officer Danny Guy and fund manager Brad White wrote to investors. They appealed for patience before clients head for the door, noting its double-digit gains in recent years.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.