Wednesday, 27 August 2014
Last updated 7 hours ago
Nov 20 2009 | 1:23pm ET
Carl Icahn’s bid to keep Steel Partners from consummating its controversial plan to convert its flagship hedge fund into a publicly-traded partnership has failed.
Already stymied in his effort to block the reorganization of the onshore version of Steel Partners II in the U.S. this summer, when a Delaware court dismissed its lawsuit, Icahn and his partners have now lost the fight on the offshore fund. A Cayman Islands court yesterday refused Icahn’s petition to stop Steel’s plans. Icahn’s ACF Master Fund and another investor had sought to have Steel II liquidated.
The court ruled that shutting the fund down would not be “just and equitable.”
“We are gratified that both the Cayman Islands Grand Court and the Delaware Supreme Court have rejected the plaintiffs claims, which we always believed were without merit,” Steel chief Warren Lichtenstein said.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...