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  • 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,...

  • VANCOUVER/ TORONTO Dec 14- Private equity and pension funds may provide the next wave of funding to the slumping mining sector through metal streaming deals as dedicated funding sources struggle to raise their own cash, industry sources said. But the bumper deal-making year has reduced the coffers of dedicated stream funders like Silver Wheaton Corp, which...

  • LONDON, Dec 14- Embattled Brazilian bank Grupo BTG Pactual SA is evaluating options for its flagship global emerging markets and macro fund following the arrest of the bank's founder, a person familiar with the matter said on Monday. Sao Paulo- based BTG Pactual is considering selling assets after its billionaire founder André Esteves was arrested last month...

  • The Fintech 100 list, published on Monday under a collaboration between investment firm H2 Ventures and KPMG, was still dominated by U.S. companies, with 40 percent of the firms based in the Americas. Fintech companies are shaking up banking and other industries by allowing savers and borrowers to bypass traditional lenders with smartphone apps and websites...

  • LONDON, Dec 14- Rather than taking profits, hedge funds continued to add to their record bearish positions after the Organization of the Petroleum Exporting Countries failed to reach agreement on a production target at the start of the month. Hedge funds booked some profits on Brent, reducing short positions by 8 million barrels last week, but added 13 million in...

  • LONDON, Dec 14- Almost half of hedge fund firms plan to roll out a new hedge fund by the end of next year despite regulations challenging how they market, the Alternative Investment Management Association said on Monday. Managers with more than $500 million were more likely to be preparing a new hedge fund than those with less than $500 million.

  • NEW YORK, Dec 13- It has only been six years since the U.S. stock market rout brought on by the financial crisis, but as far as Deena Katz's clients are concerned, that might as well be ancient history. "People have a thirty-second memory," said Katz, 65, co-chairman at Evensky& Katz/Foldes Financial Wealth Management. Investors have taken home an average 7.5 percent in...

  • BOSTON, Dec 11- LionEye Capital, a $1.5 billion event-driven hedge fund, is closing its doors at the end of December after suffering double digit losses and heavy redemptions this year, two people familiar with the matter said. The six year-old fund, run by Stephen Raneri and Arthur Rosen, is the latest casualty in an industry being battered by unpredictable...

  • LONDON, Dec 11- Former Perella Weinberg Partners Capital Management partner Andrew Dickson is preparing to launch an equities hedge fund firm called Albert Bridge Capital, six sources familiar with the matter said. The firm is set to open an initial fund with $100 million in the first quarter of 2016, one source said, while a second added the size could be in the "...

  • NEW YORK, Dec 10- Sara Tirschwell and Dan Kamensky lined up everything to launch a successful hedge fund, only to realize they could not work together, two people familiar with the matter told Reuters. The pair decided on an amicable departure from their planned joint-venture, New York- based Livia Capital Partners, according to one of the people.

  • TORONTO, Dec 10- Weak crude oil prices are creating opportunities for long-term investors in the oil and gas sector, the chief executive of one of Canada's ten biggest pension funds said on Thursday. HOOPP is Canada's seventh-biggest public pension fund, managing assets worth C $61 billion. Research from Boston Consulting Group recently showed Canada's ten...

  • SAO PAULO, Dec 10- Hedge fund manager Emmanuel Hermann, the largest individual unitholder of Grupo BTG Pactual SA, is increasing his stake even as concern that the investment bank could be ensnared in a corruption probe sparked a 57 percent slump in its stock, sources with knowledge of the matter told Reuters. Hermann, who had headed BTG Pactual's proprietary...

  • SAO PAULO, Dec 10- Hedge fund manager Emmanuel Hermann, the largest individual unitholder of Grupo BTG Pactual SA, is increasing his stake even as concern that the investment bank could be ensnared in a corruption probe sparked a 57 percent slump in its stock, sources with knowledge of the matter told Reuters. Hermann, who had headed BTG Pactual's proprietary...