Tuesday, 31 March 2015
Last updated 13 min ago
Dec 16 2008 | 3:50am ET
KBC, the Belgian financial services firm, is scaling back its hedge fund activities, it said yesterday.
The firm plans to discontinue some of its “hedge fund-related activities,” including closing its KBC Alternative Investment Management service. The moves are part of a larger strategic review at KBC, which is seeking to cut costs and has already imposed a hiring freeze in its home country for next year. The firm last month received a US$4.7 billion capital infusion from the Belgian government.
KBC said the hedge fund cutbacks would lead to layoffs where no suitable internal transfers are available. KBC Alternative Investment Management employs 28 people in New York, London and Hong Kong. The group focuses on relative value and market-neutral strategies.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…