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Private Equity and Hedge Funds

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  • Hedge funds playing buy-and-hold, and losing Monday, 24 Nov 2014 | 10:54 AM ET

    Hedge funds aren't changing their stock holdings much despite poor performance compared with the broader stock market.

  • Nov 24- Private equity firm Carlyle Group LP is looking to raise about $5 billion for a fund that can hold stakes in companies for as long as 20 years, Bloomberg reported. The company expects to make investments that do not fit within the mandate of its sixth main buyout fund, which raised $13 billion last year, Bloomberg said, citing people familiar with the matter.

  • Nov 24- Canadian buyout firm Onex Corp said it would buy Swiss packaging group SIG Combibloc Group AG for up to 3.57 billion euros. The deal is expected to close in the first quarter of 2015, subject to regulatory approvals, Onex said. Reuters reported earlier this month that Onex, Canada's largest listed private equity firm, was leading the bidding for SIG...

  • SEOUL, Nov 24- U.S. automotive parts maker Visteon Corp has signed a preliminary deal to sell its controlling stake in South Korea's Halla Visteon Climate Control Corp to a local private equity firm for $3.6 billion, Korean media reports said. The Korea Economic Daily said on Monday Visteon plans to sign a final deal to sell its 69.99 percent stake in Halla Visteon...

  • UPDATE 2-Dow Chemical, Dan Loeb settle board debate Friday, 21 Nov 2014 | 1:10 PM ET

    Nov 21- Dow Chemical Co averted a proxy fight with Dan Loeb's hedge fund, Third Point LLC, by agreeing to add four independent directors to its board, sending its shares up as much as 4.5 percent. The company has agreed to add to the board two Third Point nominees- former Foster Wheeler AG CEO Raymond Milchovich and Steve Miller, the non-executive chairman of AIG.

  • Jilted hedge funds even more in love with Japan Friday, 21 Nov 2014 | 11:08 AM ET
    Michael Novogratz

    Despite recent ups and downs, hedge funds are now more in love with Japan than at any time in the last decade.

  • Nov 21- Dow Chemical Co said it would add four independent directors to its board as part of an agreement with Daniel Loeb's hedge fund, Third Point LLC, avoiding a proxy battle. The $17.5 billion hedge fund was considering a proxy contest after negotiations with Dow over board seats broke down, Reuters had reported on Thursday. The fund is known for pushing...

  • Dow Chemical agrees to add board members Friday, 21 Nov 2014 | 9:57 AM ET

    NEW YORK— Dow Chemical Co. has agreed to add four new members to its board of directors after pressure from hedge fund activist Daniel Loeb's Third Point. In January, Third Point disclosed that it bought a stake in Dow, calling it its biggest investment. Third Point currently has a 1.9 percent stake in the company.

  • Nov 21- Dow Chemical Co said it would add four independent directors to its board as part of an agreement with hedge fund Third Point LLC. The four directors will be included in Dow's nominees for election at the 2015 annual meeting. Reuters reported earlier this week that Third Point was considering a proxy contest after negotiations over board seats with the...

  • Nov 20- Renowned oil trader Andy Hall's hedge fund Astenbeck Capital Management had a 5 percent loss in October, after performing reasonably well the prior two months amid tumbling oil prices, according to a letter to investors from Hall. Westport, Connecticut- based Astenbeck, which manages approximately $3 billion, is now up 6 percent on the year, Hall said in the...

  • Hertz names John Tague as new CEO Thursday, 20 Nov 2014 | 5:20 PM ET

    NEW YORK— Hertz, which is the midst of correcting past accounting problems, said Thursday that it named John Tague as its new chief executive officer. Hertz announced in June that it needed to review financial reports from the last three years and restate 2011 results. Carl Icahn, the activist investor whose hedge fund owns an 8.5 percent stake in Hertz, said in a...

  • Tokyo, Nov 21- Blackstone Group LP, the world's largest private equity investor in real estate, said it will buy residential assets in Japan from General Electric Co' s property unit in a deal worth more than 190 billion yen, Japan's largest property deal this year. Blackstone will buy more than 10,000 apartment units in 200 properties in Japan's largest cities...

  • Bill Gross to manage $500 million for George Soros Thursday, 20 Nov 2014 | 2:24 PM ET
    Bill Gross and George Soros

    Humbled bond manager Bill Gross just got a vote of confidence from one of the most successful investors of all time.

  • Greek drama: Telecom focus of bloody PE fight Thursday, 20 Nov 2014 | 10:50 AM ET
    David Bonderman, founding partner of TPG Capital

    SPQR has won a big judgment in a long-running legal saga that accuses TPG and Apax of bankrupting a Greek telecom.

  • NEW YORK, Nov 19- Goldman Sachs Group Inc's metals storage unit paid Deutsche Bank, Glencore and British hedge fund Red Kite millions of dollars in incentives that helped extend wait times in the company's Detroit storage hub, a Senate report showed on Wednesday. The 400- page report by the Senate's Permanent Subcommittee on Investigations exposes details of...

  • NEW YORK, Nov 19- Goldman Sachs Group Inc's metals storage unit paid Deutsche Bank, Glencore and British hedge fund Red Kite millions of dollars in incentives that helped extend wait times in the firm's Detroit storage hub, a Senate report showed on Wednesday. The 400- page report by the Senate's Permanent Subcommittee On Investigations exposes details of...

  • Secret of the world's biggest listed hedge fund Wednesday, 19 Nov 2014 | 3:42 PM ET
    The reflection of a trader working is seen on a monitor on the floor of the New York Stock Exchange in New York.

    Man Group took in $1.2 billion in new money in the past quarter in part because of this strategy.

  • Nov 19- Hedge fund Livermore Partners is pushing for change at U.S. staffing services provider Volt Information Sciences Inc, setting the stage for a potential proxy battle if the company does not act on its demands. It also wants it to sell non-core assets and buy back stock, said David Neuhauser, Livermore's managing director. Volt's share price has...

  • LONDON, Nov 19- Computers stole a march on their human trading rivals this year and should continue to do so in 2015 as a much-heralded return to sustained volatility is unlikely to happen, an executive of Man Group, the world's biggest listed hedge fund, said. Japan and China are both easing policy and the U.S. Federal Reserve has yet to start taking money out of the...

  • SYDNEY, Nov 19- Australian explosives maker Orica Ltd said on Wednesday it had agreed to sell its chemicals business to funds advised by U.S. private equity firm Blackstone Group LP for A $750 million. Orica also reported a 2 percent increase in full-year statutory net profit to A $602.5 million, from A $592.5 million, and said that volatility and uncertainty in...