Wednesday, 1 October 2014
Last updated 13 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.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...