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Private Equity and Hedge Funds

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  • NEW YORK, Sept 22- A federal judge rejected Westgate Capital Management LLC founder James Nicholson's request to shorten his 40- year prison term for running a $140 million Ponzi scheme at his hedge fund firm, likening it to the much larger fraud run by Bernard Madoff.

  • Forget Icahn, this big hedge funder loves boards Monday, 22 Sep 2014 | 2:08 PM ET
    John Burbank, founder and chief investment officer of Passport Capital, speaks at a panel discussion at the SALT conference in Las Vegas, May 15, 2014.

    John Burbank, head of $4 billion Passport Capital, is bullish on innovative American companies.

  • NEW YORK, Sept 22- Private equity firm Silver Lake is in advanced talks to acquire online photo-sharing service Shutterfly Inc for at least $2 billion, people familiar with the matter said on Monday. Silver Lake has outbid other buyout firms in an auction for Shutterfly and is now negotiating the terms of an acquisition, the sources said.

  • Silver Lake in talks to buy Shutterfly: Sources Monday, 22 Sep 2014 | 1:09 PM ET

    Private equity firm Silver Lake is in advanced talks to acquire Shutterfly for at least $2 billion, people familiar with the matter said

  • Sept 22- FMSA Holdings Inc, owned by private equity firm American Securities LLC, said it expected its initial public offering to be priced at $21- $24 per share, raising up to $1.07 billion. American Securities, through its affiliate ASP FML Holdings LLC, is selling all the 44.5 million shares in the offering.

  • UPDATE 1-Blackstone is "giving up on Russia" - FT Sunday, 21 Sep 2014 | 4:43 PM ET

    Sept 21- U.S. private equity group Blackstone Group LP is "giving up on Russia", highlighting how even well-connected Western investors are turning away from the country, the Financial Times reported on Sunday.

  • Blackstone is "giving up on Russia" - FT Sunday, 21 Sep 2014 | 4:16 PM ET

    Sept 21- U.S. private equity group Blackstone Group LP is "giving up on Russia", highlighting how even well-connected Western investors are turning away from the country, the Financial Times reported.

  • Blackstone to pull out of Russia Sunday, 21 Sep 2014 | 1:00 PM ET

    Blackstone is "giving up on Russia," highlighting how even well-connected Western investors are shying away from doing business in the country.

  • Will more pensions dump hedge funds? Sunday, 21 Sep 2014 | 12:00 AM ET
    The California Public Employees' Retirement System building in Sacramento, Calif.

    More pension funds consider divesting from hedge funds, due to poor performance and high costs. NYT reports.

  • NEW YORK, Sept 19- Merrill Lynch fired two veteran brokers from its Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.

  • NEW YORK, Sept 19- Merrill Lynch summarily fired two veteran brokers from its elite Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.

  • TORONTO, Sept 18- Shareholder activism is likely to gather momentum in the Canadian energy industry in the coming months, sparked by some poor stock performance, the success of past campaigns and growing support from large institutional investors.

  • LONDON, Sept 18- Irish cement maker CRH is exploring a bid for all the assets rivals Lafarge and Holcim must sell to steer their mega-merger past competition watchdogs, two sources familiar with the matter told Reuters. Bain, Onex and another limited partner form the fourth consortium, the sources said.

  • Apparel and private equity don't mix: Analyst Wednesday, 17 Sep 2014 | 2:25 PM ET
    Window display of an Ann Taylor store on Fifth Avenue in New York.

    A Wells Fargo analyst says sales volatility, lease obligations and the competitive landscape make specialty apparel stores less than ideal candidates.

  • BOSTON, Sept 17- Despite the recent rebuke of hedge funds by the influential California Public Employees' Retirement System, other investors are pumping billions into these portfolios, boosting industry assets to a record $3.1 trillion, data released on Wednesday show.

  • Activist investor Peltz seeks DuPont breakup: Report Wednesday, 17 Sep 2014 | 6:15 AM ET

    Activist investor Nelson Peltz's Trian Fund Management has called for a break up of DuPont, The Wall Street Journal reported.

  • Credit Suisse loans under US Fed scrutiny - WSJ Wednesday, 17 Sep 2014 | 1:05 AM ET

    Federal Reserve has asked Credit Suisse Group AG to immediately address problems relating to the bank's underwriting and sale of leveraged loans, or high-interest-rate loans used by private-equity firms to finance deals, the Wall Street Journal reported, citing a source familiar with the matter.

  • Sacramento- based Calpers said on Monday it was pulling about $4 billion from a total of 30 hedge funds it was invested in under its Absolute Return Strategies portfolio, citing costs and difficulty in maintaining the program. BlueTrend, owned by U.K.- based BlueCrest Capital Management, could not immediately be reached for comment.

  • AP Top Extended Financial Headlines At 5:14 p.m. EDT Tuesday, 16 Sep 2014 | 5:14 PM ET

    China's economic growth has left most stock investors behind US stocks end higher as investors await news from Fed meeting; health care stocks gain most House committee says safety agency should have found faulty GM ignition switches in 2007 California issues 1st permits to test self-driving cars on public roads; Google has most at 25 As Fed meets, speculation swirls over possible change in Fed language on timing of rate hike Lower gas, food costs keep US producer prices unchanged in August as inflation remains mild. Endo makes unsolicited offer for Auxilium worth $1.4 B, or $28.10/ share in cash and stock Federal agency seeks $500 million in relief for students at for-profit Corinthian Colleges Sears borrows $400 million from a hedge fund run by its CEO Lampert

  • AP Top Financial News At 5:14 p.m. EDT Tuesday, 16 Sep 2014 | 5:14 PM ET

    US CEOs less optimistic about hiring, spending Alibaba risk: China's rise leaves out investors Stocks end higher as investors await news from Fed House panel: Safety agency mishandled GM recall Self-driving cars now need a permit in California Speculation swirls over Fed language on rate hike US producer prices unchanged in August Endo Int'l makes $1.4 B offer for Auxilium Pharma Corinthian Colleges sued for predatory lending Sears takes $400 M loan from Lampert's hedge fund