Saudi Gazette – By end of 2013, Middle East investors will account for about $194 billion in hedge fund assets, or about 7.5 percent of total global hedge fund assets, a new global study of institutional investors, investment consultants and hedge funds released on Monday by the Bank of New York Mellon and Casey, Quirk & Associates, said.

This is an almost 30 percent increase on 2007, when the Middle East accounted for about $109 billion, or a 5.8 percent share.

Read Complete Article

Tags: amp, bank of new york, bank of new york mellon, casey, fund-assets, global hedge fund, global study, institutional-investors, investment consultants, quirk, saudi gazette

Saudi Gazette – A seven-member investor group including billionaire George Soros and Dell Inc. founder Michael Dell have agreed to purchase failed lender IndyMac Bank, one of the largest casualties of the housing bust, for $13.9 billion.

IndyMac, which specialized in loans made with little down payment or proof of assets, was seized by the government in July after a run on the bank as the US housing market collapsed.

The Federal Deposit Insurance Corp. said Friday that a holding company led by Steven Mnuchin, co-chief executive of private equity firm Dune Capital Management, agreed to buy IndyMac in a deal reached Wednesday.

The investors have formed a partnership, called IMB Management Holdings LP, that includes Dell’s investment firm, MSD Capital.

Read Complete Article

Tags: bank one, billionaire, bust, capital-management, casualties, dell inc, dune, federal deposit insurance, federal-deposit-insurance-corp, george soros, holding company, investment-firm, investor-group, michael dell, msd capital, private equity firm, saudi gazette, steven mnuchin, us housing market