Thursday, 18 September 2014
Last updated 13 min ago
Dec 8 2008 | 1:24am ET
The latest hedge fund hit by the restructuring bug is Ellington Management Group, which has segregated illiquid assets in its flagship fund and laid off staff.
The Old Greenwich, Conn.-based firm has split its Ellington Overseas Partners fund, Bloomberg News reports. Hard-to-sell assets have been hived off into a separate fund, allowing Ellington to avoid distressed sales at rock-bottom prices. Last year, the firm suspended redemptions from two funds which also had difficulty valuing illiquid assets.
Ellington has also slashed 10% of its workforce, laying off about 16 employees.
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…
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