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  • Dec 22- TerraForm Power Inc shareholder Appaloosa Management LP said it wants to inspect the books of the solar yieldco to learn more about its dealings with parent SunEdison Inc.. Hedge fund Appaloosa, headed by David Tepper, said on Tuesday its request was related to SunEdison's deal to buy Vivint Solar Inc.. SunEdison shares were down about 24 percent at $5.12...

  • Dec 22- TerraForm Power Inc shareholder Appaloosa Management LP said it wants to inspect the books of the solar yieldco to learn more about its dealings with parent SunEdison Inc.. The hedge fund said on Tuesday its request was related to SunEdison's deal to buy Vivint Solar Inc.. Funds affiliated with Appaloosa together own 7.6 million shares, or 9.5 percent of...

  • LONDON, Dec 22- Commodity indices have proved disastrous investments for pension funds and other institutions in the last decade and disappointed again in 2015.. Back in 2005, Gary Gorton and Geert Rouwenhorst published a paper on "Facts and Fantasies about Commodity Futures" which helped popularize commodities as a new "asset class" for institutional...

  • Martin Shkreli, CEO of Turing Pharmaceutical, is brought out of 26 Federal Plaza by law enforcement officials after being arrested for securities fraud on Dec. 17, 2015, in New York City.

    Bad-boy ex-pharmaceutical company CEO Martin Shkreli says fraud allegations against him are "baseless and without merit."

  • SAN FRANCISCO, Dec 18- A new policy aimed at cutting risk from the California Public Employees Retirement System investment portfolio will take years to implement, leaving the largest U.S. public pension still fund vulnerable to a sharp fall in asset performance in the short-term, Moody's said on Friday. Moody's said it approves of Calpers risk-reducing...

  • WASHINGTON, Dec 18- JPMorgan Chase will pay $307 million to settle two U.S. government cases that charged the bank with failing to disclose certain conflicts of interest to some of its wealth management clients, U.S. regulators said on Friday. The SEC said the bank's wealth business preferred to invest its clients in its own proprietary products, but JPMorgan...

  • SAO PAULO, Dec 18- Creditors of Grupo OAS, the Brazilian engineering firm under creditor protection, agreed on Friday to sell a 24.4 percent stake in infrastructure company Invepar to Brookfield Asset Management Inc for 1.35 billion reais. The filing came after Grupo OAS struggled with the impact of a corruption probe at state-controlled oil producer...

  • WASHINGTON, Dec 18- JP Morgan Chase will pay $307 million to settle two U.S. government cases that charged the bank with failing to disclose certain conflicts of interest to some of its wealth management clients, U.S. regulators said on Friday. The SEC said the bank's wealth business preferred to invest its clients in its own proprietary products, but J.P. Morgan...

  • *Large European funds seeking $30 bln in 2016. LONDON, Dec 18- How to spend it? In Europe alone in 2016, major outfits including Apax, BC Partners, Charterhouse, Cinven and Permira will all be raising funds.

  • BOSTON, Dec 17- Third Avenue's Focused Credit Fund built up a $200 million cash position in the days before its collapse, but that was not enough to meet redemptions because it could not sell even its most liquid assets. New York- based Third Avenue, which shocked Wall Street with its move to shut down the junk bond fund on Dec. 9, described the final days of its...

  • Dec 16- Two former hedge fund managers were sentenced to 45 months in prison, for misleading investors into investing more than $500 million in their fraudulent hedge fund business, said the U.S. Attorney's Office on Wednesday. Gabriel Bitran, 70, a former professor at the Massachusetts Institute of Technology and his son Marco Bitran, 40, a Harvard Business...

  • BOSTON, Dec 16- African-Americans have become a shrinking presence in the boardrooms of the biggest U.S. companies in recent years, setting back a push by pension funds for greater diversity. African-Americans, who make up about 13 percent of the U.S. population, account for 8.6 percent of the directors on the boards of the largest 200 companies by revenue in the...

  • Dec 15- Securities exchange operator Nasdaq Inc's Co-President Adena Friedman will be named chief operating officer on Wednesday, according to a source with direct knowledge of the matter. Friedman, who originally joined Nasdaq in 1993 and worked there for 18 years, left the company in 2011 to join asset manager the Carlyle Group to serve as its chief financial...

  • WASHINGTON/ NEW YORK/ CHICAGO, Dec 15- Lawmakers are likely to scrap a revision to certain legal protections for bondholders from a spending bill that was under negotiation, a congressional aide said on Tuesday. The letter was signed by BlackRock Inc, DoubleLine Group LP, Oaktree Capital Management LP, Western Asset Management Company, T. Rowe Price Group and...

  • *Two major European pension funds pull some money from Japan. "Macro drivers such as hopes of additional easing by the Bank of Japan and further depreciation of the yen, have become much weaker," said Yasuo Sakuma, portfolio manager at Bayview Asset Management in Tokyo. "Foreign investors could become net sellers of Japan stocks on an annual basis for the first time...

  • ZURICH, Dec 15- Customer outflows from Swiss private bank BSI are "absolutely manageable" despite the turbulence at Brazilian parent Grupo BTG Pactual, BSI Chief Executive Stefano Coduri told a Swiss newspaper. He told Finanz und Wirtschaft in an interview released ahead of publication on Wednesday that BSI was operating normally and its liquidity and equity...

  • BOSTON, Dec 14- Billionaire hedge fund manager Marc Lasry on Monday backed a junk bond mutual fund hemorrhaging assets at his Avenue Capital Group as jittery investors exit high-yield bonds amid a market rout. Investors have taken note that Lasry's $884 million Avenue Credit Strategies Fund is run by the same portfolio manager who in 2009 helped launch the...

  • Investors have taken note that Lasry's $884 million Avenue Credit Strategies Fund is run by the same portfolio manager who in 2009 helped launch the Third Avenue Focused Credit Fund, which abruptly shut down last week and blocked investor redemptions, fund disclosures show. And Lasry's Avenue Capital, a powerhouse in the distressed investing sector, has...

  • BOSTON, Dec 14- Illiquid assets at Third Avenue Management's junk-bond fund skyrocketed before it imploded last week, underscoring an opaque corner of risk in the mutual fund industry that corporate governance experts worry is not policed by outside directors. The biggest meltdown of a mutual fund since the 2008 credit crisis happened as the U.S. Securities...

  • Dec 14- An outspoken Yahoo Inc shareholder said on Monday he considers former Yahoo executives Ross Levinsohn and Jacqueline Reses as potential replacements for Chief Executive Officer Marissa Mayer as the internet company comes under pressure to change strategic direction. Eric Jackson, managing director at New York- based SpingOwl Asset Management,...