Thursday, November 27, 2008
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The major broker-dealers have been decimated, with only Morgan Stanley and Goldman Sachs remaining independent and solvent.
There are daily fears of hedge funds facing the equivalent of a bank run, as investors scramble to withdraw their cash. Those private-equity firms, such as Blackstone and Fortress, which had entered the public markets to take their positions alongside the investment banks are now trading at massive discounts to their IPO values.
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Tags: arthur-sulzberger, burst, da-vinci, indexes, management-platform, mccabe, medallion, mortgage-lenders, party-vendors, raanan-agus, rand-corporation, tax-haven
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Friday, May 23, 2008
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Thomson Financial- BH Global Ltd., the second fund of hedge funds feeder fund to be floated by Brevan Howard Asset Management LLP, said it has raised $1 billion from its initial public offering in London, twice the amount expected.
Lord Turnbull, BH Global Chairman said, "To have raised $1 billion in these markets is a great result and certainly beyond our initial target of $500 million… This result clearly demonstrates investor appetite for high quality closed-ended funds." The company placed 70.8 million shares and also has an over-allotment option of up to $100 million, which is exercisable until June 22.
Its IPO comprised about 36.39 million U.S. dollar shares, about 11.24 million euro shares and about 23.19 million sterling shares — priced at $10, 10 euros and 10 pounds per share.
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Tags: 100-million, benchmarks, da-vinci, farmland, finance, first-avenue, global-coordinator, high-performance, london-interbank-offered-rate, merrill, shareholders-association, year-to-date
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