Monday, 20 October 2014
Last updated 2 days ago
May 20 2009 | 1:03pm ET
Avenue Capital Management will not sell its leveraged loan and collateralized loan obligations business, and instead will seek to acquire one or more other high-yield fund shops.
The New York hedge fund, which manages some $2.8 billion in CLOs, decided against dumping the unit as the CLO market has recovered in recent months, Bloomberg News reports. The $16.5 billion firm has ended talks with potential buyers, and has become a serious potential buyer itself. According to Bloomberg, the firm is stepping up its efforts to buy other high-yield loan funds.
While the firm will not part ways with its CLO unit, it has parted ways with its top manager. Richard D’Addario left Avenue last month. According to Bloomberg, his departure had nothing to do with the firm’s plan to sell the business.
Should Avenue find a CLO shop to buy, it would put that firm’s management in charge of its six CLOs.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...