Wednesday, 27 May 2015
Last updated 1 hour ago
Mar 24 2009 | 2:00am ET
New York investment firm P. Schoenfeld Asset Management is doing its part to make predictions about hedge fund consolidation a reality. PSAM namesake and CEO Peter Schoenfeld told a New York conference that his firm is in talks to acquire three hedge funds, and that it might not stop with those three.
“Right now we are speaking to three, but we could speak to more,” Schoenfeld told the Reuters Private Equity and Hedge Funds Summit.
Schoenfeld did not identify the potential acquisitions, but said that they each managed between $200 million and $400 million.
“The cost of business has gone up fairly dramatically,” he said. “So there are economies of scale out there.”
Still, he cautioned that none of the possible deals had closed yet, noting that “strong egos” and “cultural things” could keep the acquisitions from happening.
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…