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Private Equity and Hedge Funds

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  • Dec 22- Goldman Sachs Group Inc has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said on Monday. Reuben Brothers has a history in steel and iron ore investments through its metal trading company Metalloyd. In April, the firm sold its stake in Erus Metals, a small warehousing company based...

  • Sex, drugs & public divorce: New normal for Wall St? Monday, 22 Dec 2014 | 9:00 AM ET

    Is a nasty split in scorching public view the new normal for financial industry power couples? Experts see something brewing.

  • Meredith Whitney's fund in turmoil: Report Friday, 19 Dec 2014 | 5:07 PM ET
    Meredith Whitney

    Meredith Whitney's hedge fund Kenbelle Capital may be in trouble only a year after it launched.

  • Dec 19- The biggest investor in Meredith Whitney's hedge fund has demanded his money back and two executives have left in the past month, Bloomberg reported, citing a person with knowledge of the firm. Chief Financial Officer Andrew Turchin has also exited, Bloomberg said, quoting the source. Whitney's fund started trading in November 2013 with about $50 million...

  • Dec 19- Canadian performance company Cirque du Soleil has hired investment bank Goldman Sachs Group Inc to help in its previously disclosed effort to find a strategic partner, a spokeswoman for the company said on Friday. Cirque du Soleil will appeal to both private equity firms and large media companies that are looking to increase their exposure to live...

  • Volcker critical of delays in namesake rule Friday, 19 Dec 2014 | 12:33 PM ET

    WASHINGTON— Former Federal Reserve Chairman Paul Volcker on Friday criticized a decision to delay full implementation of a rule that bears his name and aims to curb banks' risky investments. The Fed said Thursday that it would delay until July 2017 the deadline by which U.S. banks will have to sell off potentially volatile holdings in private equity, venture...

  • Howard Marks: Oil prices expose 'debt's weaknesses' Friday, 19 Dec 2014 | 11:36 AM ET
    Oaktree Capital Management co-founder and Chairman Howard Marks speaks during an interview in New York, Sept. 5, 2014.

    Howard Marks thinks that the drop in oil prices could finally expose low lending standards and provide better value in the markets.

  • BANGKOK, Dec 19- Thai Union Frozen Products PCL, the world's largest canned tuna producer, said on Friday it has signed an agreement to acquire 100 percent of North American tuna company Bumble Bee Foods for $1.51 billion from a private equity firm. The deal is part of a plan by Thai Union, the world's largest canned tuna producer, to boost the group's portfolio of...

  • Fed gives banks more time to sell risky holdings Thursday, 18 Dec 2014 | 6:21 PM ET

    WASHINGTON— The Federal Reserve is delaying by two years a requirement that U.S. banks sell off their riskiest investments such as stakes in private equity and hedge funds. Banks say they need more time to complete the sales. The Fed said Thursday that it plans to extend from July 2015 to July 2017 the deadline by which banks will have to sell their stakes.

  • Dec 18- Hedge fund Paulson& Co has taken a stake in specialty pharmaceuticals company Salix Pharmaceuticals Ltd as the company recovers from inventory issues and the departure of its chief financial officer, according to people familiar with the matter. The fund has recently taken a number of large positions in healthcare companies, including Shire PLC, where...

  • Activist to public pensions: Thank you! Thursday, 18 Dec 2014 | 12:34 PM ET
    Greg Taxin

    The surging power of activist investors is bolstered by a growing ally: public pensions and other big institutions.

  • Surprised? Male bankers dominate hedge fund hiring Thursday, 18 Dec 2014 | 9:42 AM ET

    Females who work as investment banking analysts don't keep up with their male counterparts when it comes to landing hedge fund jobs.

  • LONDON, Dec 18- Telecoms tycoon Xavier Niel's NJJ Capital has agreed to buy Swiss mobile operator Orange Switzerland from private equity group Apax Partners for 2.8 billion Swiss francs, Apax said in a statement. NJJ Capital, Niel's private investment fund, has circled Orange Switzerland since 2012 when the business was sold to Apax. NJJ Capital declined to...

  • PARIS, Dec 18- Telecoms tycoon Xavier Niel's NJJ Capital has agreed to buy Swiss mobile operator Orange Switzerland from private equity group Apax Partners for 2.8 billion Swiss francs, Apax said in a statement. The deal, struck through his NJJ Capital personal holding company, marks a new turn for Niel. He triggered a price war in France through the launch of Free, a...

  • BOSTON, Dec 17- A top Herbalife salesman said that most people who sell the company's weight loss and nutrition products are doomed to fail, adding fresh grist to accusations by a hedge fund manager that the company is a fraud. Gratziani is a member of Herbalife's elite Chairman's Club sales team. The video of that training session was released publicly on...

  • Leaked Sony emails show Loeb influence on studio execs Wednesday, 17 Dec 2014 | 3:11 PM ET

    TOKYO/ BOSTON, Dec 17- Sony Corp movie executives kept up a dialogue with hedge fund titan Daniel Loeb, even after rebuffing the billionaire investor's proposal to sell up to one-fifth of the studio's entertainment business, leaked emails show. Loeb's New York- based Third Point took a 7 percent stake in the company in May 2013 and suggested that proceeds from a...

  • Dec 17- A U.S. judge has dismissed Steve Wynn's lawsuit accusing prominent short-seller Jim Chanos of slander over an alleged statement that the casino mogul violated a U.S. anti-bribery law. District Judge William Orrick in San Francisco ruled on Tuesday that Chanos was giving an opinion protected under the U.S. Chanos, founder of New York- based hedge fund...

  • Funds slammed by Russia Tuesday, 16 Dec 2014 | 5:27 PM ET
    Foreign exchange rates for Russian rubles, euros and U.S. dollars show on a neon sign in Moscow on Dec. 16, 2014.

    The rapid fall of the ruble and stocks means even more pain for investment managers who have been trying to play Russia.

  • BOSTON, Dec 16- A former top portfolio manager for Steven A. Cohen's now-defunct SAC Capital Advisors hedge fund is joining Scoria Capital, a hedge fund founded by another SAC alumnus. Ted Orenstein will become a senior partner and head the industrials sector at Scoria when he joins early in January, the firm's founder, Larry Sapanski, wrote to investors in a letter...

  • Look who Steven A. Cohen wants to hire Tuesday, 16 Dec 2014 | 9:12 AM ET
    Steven Cohen

    Steven A. Cohen beat them, and now he wants them to join him. The New York Times reports.