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Private Equity and Hedge Funds

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  • Investing pro back to hedge funds after juice break Friday, 30 Jan 2015 | 11:24 AM ET
    Michael Karsch

    Michael Karsch is hoping to apply the lessons of juice to his old business of hedge funds.

  • BOSTON, Jan 30- Hedge fund mogul William Ackman is ready to make a new bet, not on a stock this time but a startup hedge fund, Clearfield Capital Management. Ackman, who runs $18 billion Pershing Square Capital Management, told investors on Thursday he plans to make his biggest ever commitment to an outside hedge fund. Ackman and Hilal have known each other for more...

  • Jan 29- The former controller of Contrarian Capital Management LLC pleaded guilty on Thursday to one count of wire fraud stemming from his embezzlement of more than $9 million from the Connecticut hedge fund, federal prosecutors said. Lawrence Herzing, 45, of Greenwich, Connecticut, entered his plea before U.S. District Judge Jeffrey Alker Meyer in Bridgeport,...

  • Jones New York to close stores, end wholesale business Thursday, 29 Jan 2015 | 12:15 PM ET

    NEW YORK— Jones New York announced Thursday that it is closing stores, discontinuing its wholesale business and will look at strategic alternatives for its brand. Jones New York was acquired by private equity firm Sycamore Partners last year as part of a $1.2 billion deal, or $2.2 billion including debt. None of the other business units acquired as part of The...

  • Schools ride high stock, VC returns to 15% gain Thursday, 29 Jan 2015 | 6:04 AM ET
    Beaumont Tower, Michigan State University

    Investments by academic institutions did well in 2014, boosting long-term performance records hit during the financial crisis.

  • BRIDGEPORT, Connecticut— A Venezuelan-American hedge fund manager was sentenced Thursday to 13 years in prison for running a Connecticut fraud scheme involving hundreds of millions of dollars from Venezuela's state oil company. As an adviser to Venezuela, he devised a currency arbitrage market that, according to him, generated $60 billion for the...

  • Jan 28- The private equity firm TPG Capital LP has sued former spokesman Adam Levine, accusing him of taking confidential documents and distributing them to the New York Times and other media after being denied a promotion to a partnership position. In a complaint filed on Wednesday with the U.S. District Court in Fort Worth, Texas, TPG said Levine has held onto his...

  • BOSTON, Jan 28- Two executives at hedge fund Fortress Investment Group are leaving the firm after its macro fund suffered heavy losses in the wake of recent currency market upheaval, three sources familiar with the moves said. Sweillam has been with Fortress since 2013, and his duties will be taken up by global head of trading Timothy Durnan, the sources said.

  • Jan 28- The bankruptcy of the operating unit of Caesars Entertainment Corp's will proceed in Chicago, a victory for the casino company's private equity backers over its hedge fund creditors who wanted the case in Delaware. Bankruptcy Judge in Delaware sent shares of parent company Caesars Entertainment, which is controlled by Apollo Global Management and...

  • Caesars unit's bankruptcy to proceed in Chicago Wednesday, 28 Jan 2015 | 12:05 PM ET

    The move to keep the filing in Chicago rather than Delaware is a victory for Caesars Entertainment's private equity backers.

  • Jan 28- A U.S. bankruptcy judge said on Wednesday he would not transfer the bankruptcy filing of Caesars Entertainment Corp's operating unit to Delaware from Chicago, a victory for the company's private equity backers. Hedge funds creditors wanted the casino company's $10 billion debt-cutting plan reviewed under the legal standards of the Delaware court.

  • How much hedge funds earned for you in last 10 years Wednesday, 28 Jan 2015 | 8:31 AM ET

    Hedge funds earned $1.5 trillion for investors over the last decade and more pension funds are increasing the amount of money they allocate to them.

  • LONDON, Jan 28- Hedge funds earned $1.5 trillion for their investors over the last ten years and more pension funds are increasing the amount of money they allocate to them, trade body Alternative Investment Management Association said on Wednesday. The trade body said that one in every four dollars invested in the nearly $3 trillion industry is sourced from...

  • WILMINGTON, Del, Jan 27- The operating unit of Caesars Entertainment Corp will learn Wednesday whether its bankruptcy will proceed in Chicago, where the casino company filed for Chapter 11 this month, or in Delaware, a U.S. bankruptcy judge in Delaware said on Tuesday. Allowing the case to proceed in Chicago would be a victory for Caesars private equity backers,...

  • Here are the best hedge funds for 2015: Experts Tuesday, 27 Jan 2015 | 12:53 PM ET
    Dan Loeb, founder and chief executive officer of Third Point LLC.

    Hedge fund investors like Goldman Sachs, SkyBridge and GAM predict the best hedge fund strategies for the new year.

  • Nelson Peltz cuts stake in Family Dollar Tuesday, 27 Jan 2015 | 6:25 AM ET

    Jan 27- Activist investor Nelson Peltz's Trian Fund Management LP cut its stake in Family Dollar Stores Inc to 2.07 percent from 7.3 percent. Trian Management sold about 6 million shares of the discount retailer, the hedge fund said in a regulatory filing on Tuesday. Family Dollar's shareholders approved an $8.5 billion deal last week to be bought by Dollar Tree...

  • NEW YORK, Jan 27- Blackstone Group LP, the world's largest alternative asset manager, is raising its first energy-focused credit fund, according to people familiar with the matter, the latest sign that private equity firms are seeing investment opportunities among distressed energy assets. GSO Capital Partners LP, Blackstone's credit investment arm, has...

  • NEW YORK, Jan 26- The U.S. Securities and Exchange Commission on Monday supported a bid by prosecutors in New York for a shot at overturning a ruling that cleared two hedge fund managers of insider trading and limited the ability of authorities to pursue such cases. The SEC, in a court filing, backed Manhattan U.S. In particular, the SEC said the ruling could impede...

  • Guggenheim's Minerd: ECB QE will work if rates fall Monday, 26 Jan 2015 | 1:47 PM ET
    Scott Minerd of Guggenheim Investment Management

    Scott Minerd of Guggenheim Partners thinks quantitative easing in Europe could work, but not for the reason you might think.

  • HONG KONG, Jan 26- U.S. private equity firm Blackstone Group said it has agreed to sell a prime Sydney office building to China's Dalian Wanda Group for about A $415 million. China's biggest property conglomerate plans to build a 5- star hotel as well as luxury residential and retail developments at the location, the company said in a statement.