Tuesday, 23 September 2014
Last updated 4 hours ago
Nov 18 2009 | 11:19am ET
Aladdin Capital Holdings has acquired Solent Capital Partners’ collateralized debt obligations business, including its credit hedge fund.
Stamford, Conn.-based Aladdin will take over Solent’s Propeller hedge fund and nine synthetic CDOs, with combined assets of about $750 million.
“There is more consolidation to come,” Neal Neilinger, Aladdin’s chief investment officer, told Bloomberg News. “Managing $11 billion in assets is more efficient than managing $1 billion. These transactions make it harder for smaller firms to operate.”
Aladdin boats $11.9 billion in assets.
For its part, Solent said it was getting out of a moribund business: With no new CDOs likely to be issued any time soon, there is no opportunity to grow.
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 McKitich, CIO of Petty 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…
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.