Diversified Financials Capital Markets

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  • *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.

  • AMSTERDAM, Dec 18- NIBC Bank NV, a Dutch merchant bank, said on Friday it was buying stockbroker SNS Securities, with around 100 employees one of the largest brokerages in Amsterdam. At its first half earnings report in August, the brokerage's owner SNS Bank said it had a book value of 34 million euros. NIBC is owned by New York- based private equity firm J.C. Flowers& Co.,...

  • LONDON/ NEW YORK/ HONG KONG, Dec 17- Bankers are celebrating the biggest year on record for mergers and acquisitions with magnums of champagne and slap-up dinners: just don't expect to read about it on Facebook. The sense of corporate restraint is replicated on Wall Street and in the City of London. Alternatively, bankers are inviting the troops, and their...

  • 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...

  • *More companies expected to list in China. HONG KONG, Dec 17- China's landmark decision this month to implement a U.S.-style registration system for stock listings will boost revenues at local banks and brokers and lure more companies to the stock market, analysts said. Under official proposals unveiled by the State Council on Dec. 9, issuers and underwriters...

  • 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...

  • *Soybeans hit lowest since Nov. 25. CHICAGO, Dec 16- Chicago Board of Trade soybeans fell to a three-week low on Wednesday, with corn and wheat also weakening as traders grappled with huge world stocks of all three commodities. "There is just no real strong enthusiasm for buying in," said Bill Gentry, a broker at Risk Management Commodities in Lafayette, Indian.

  • 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...

  • *Oil stocks jump after China postpone price cuts. China shares also advanced, as investors were encouraged by news that China plans to issue significantly more government bonds next year to aid the economy. Both Hong Kong and China markets got a boost from a sharp rally in oil stocks on Wednesday after the Chinese government said it would "postpone" expected cuts...

  • China shares were also firm, as investors were encouraged by news that China plans to issue significantly more government bonds next year to aid the economy. Hong Kong's Hang Seng index was up 2.2 percent, to 21,732.06 points at 0250 GMT. "We believe there is an ulterior motive- to protect profits of the three oil majors," wrote Oliver Barron, analyst at China- focused...

  • 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...

  • SAO PAULO, Dec 15- Partners at Grupo BTG Pactual SA have voluntarily waived their right to earn bonuses for the second half of the year, as the embattled Brazilian investment bank races to bolster cash and instill confidence following the arrest of founder André Esteves, a source with direct knowledge of the situation said on Tuesday. The bank was forced to sell...

  • Dec 15- Investment bank Jefferies Group LLC said revenue from its bond trading business tumbled 83 percent in the fiscal fourth quarter as Wall Street continues to reel from a difficult environment for fixed income. New York- based Jefferies Group, a unit of Leucadia National Corp, reports earnings a month before most bigger Wall Street firms and often hints at...

  • *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...

  • *China stock stars set for 100 pct bonuses. HONG KONG, Dec 15- Top China share traders are set to enjoy the spoils from year-end payouts, while their Asia fixed income counterparts and dealmakers will miss out despite a record year for mergers in the region, headhunters and senior bankers said. Banks, including UBS and HSBC, saw a boom year in Asia stock trading, sources...

  • 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...