Monthly Archives: June 2017
Barclays to Pay $97 Million for Overcharging Clients
(HedgeCo.Net) The Securities and Exchange Commission has announced an enforcement action requiring Barclays Capital to refund advisory fees or mutual fund sales charges to clients who were overcharged. In a settlement of more than $97 million, Barclays agreed to settle […]
Cowen completes acquisition of Convergex
(Hedgeweek) Effective today, Convergex has been renamed Cowen Execution Services and Convergex Limited, its London-based brokerage, has been renamed Cowen Execution Services Limited. “The acquisition of Convergex enhances our position as a leader in high quality research and superior global […]
Mortgage Bankers and Hedge-Fund Revivals
(Bloomberg) Why do we fine banks lots of money for doing bad things? The fines are more or less paid by the shareholders, and it’s not like the shareholders did the bad things. But in theory, the shareholders don’t want […]
Castlelake Hits $1B Hard Cap With Third Aviation Fund
((FINalternatives) Global private investment manager Castlelake LP has raised $1 billion in capital commitments for its third aviation-related fund. To read this article:
Biggest Venture-Backed Companies Worth Nearly $500bn
(Reuters) The total valuation of late-stage, venture-backed private companies in the United States and Europe has exploded from a few dozen startups worth a collective $40 billion in 2010 to hundreds of firms that together are now worth almost $500 […]
Hedge Fund Corvex Urges Energen to Consider Sale
(Reuters) Hedge fund Corvex Management LP on Wednesday reported a 5.5 percent stake in Energen Corp (EGN.N) and called for the possible sale of the oil and gas producer. Energen’s shares were up 3.1 percent at $57.38 in morning trading, […]
Russia Can ‘Live Forever’ With $40 Oil in Warning to Hedge Funds
(Bloomberg) A race to the bottom in oil prices may not have many winners, but Russia is certain it can survive. It’s less sure about hedge funds. “We’re actually ready to live forever with the oil price at $40 or […]
Third Point Hedge Funds Gain in May
(Reuters) Billionaire investor Daniel Loeb’s hedge funds continued to make money in May, leaving its Third Point Partners L.P. fund up 9.9 percent for the year and its Third Point Ultra Ltd. up 16.1 percent, according to an investor update. […]
Activist Investor to Sue After Losing Proxy Fight With Taubman
(New York Post) Activist investor Jonathan Litt is not ready to admit defeat in its battle against mall REIT Taubman Centers…. Despite months of urging from Litt’s Land and Buildings hedge fund, preliminary results from Taubman’s annual meeting Thursday showed […]
Court Agrees to Limit SEC Case Against FBI Informant
(New York Post) A former Long Island broker — one of the FBI’s most successful informants ever — took a major step on Thursday to winning his second battle against Uncle Sam….The former broker, Guy Gentile, who turned rogue informant […]
Campaign Promises and Political Reality
(Harvest) President Donald Trump won the presidency with a platform focused in part on bringing manufacturing jobs back to the United States, promising to usher in a new “Industrial Revolution.” In 2016, manufacturing accounted for approximately 12% of U.S. GDP, […]
If It’s Groundhog Day, Why Aren’t Investors Learning the Lessons?
(Harvest) For seasoned financial market professionals, the last few years have been a bit like the iconic 1993 movie Groundhog Day: similar patterns seemingly repeating themselves over and over again. In that movie, Bill Murray’s character Phil learned from each […]