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Private Equity and Hedge Funds

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  • BOSTON, Oct 16- Some of Wall Street's biggest names are licking their wounds as October lives up to its reputation as one of the market's roughest months. Morgan Stanley strategists said this week that their model portfolio through Monday had trailed the S&P by 3.6 percentage points due to bad bets on technology stocks, including GT Advanced Technologies, the...

  • Hedge funds bleed as AbbVie reconsiders Shire bid Wednesday, 15 Oct 2014 | 11:51 AM ET

    LONDON, Oct 15- Some of the world's best known hedge funds lost hundreds of millions of dollars in the value of the stock they hold as Shire plunged after AbbVie's decision to reconsider its $55 billion bid for the British healthcare group. Chicago- based AbbVie was eager to buy Shire to reduce its U.S. tax bill by moving its tax base to Britain. "It seems Abbvie is...

  • Fidelity sets alliance with robo-investing disruptor Wednesday, 15 Oct 2014 | 8:00 AM ET
    Jon Stein, founder and CEO of Betterment

    Betterment Institutional hopes their cheap and automated personal investing platform will also catch on with financial advisors.

  • ConvaTec owners appoint banks to explore sale - sources Wednesday, 15 Oct 2014 | 6:17 AM ET

    LONDON, Oct 15- ConvaTec's owners have appointed Morgan Stanley and Goldman Sachs to explore a sale of the medical device maker which could be worth up to $10 billion, sources familiar with the matter said. Private equity firms Avista Capital Partners and Nordic Capital are preparing the groundwork for a possible sale or initial public offering in 2015 for the...

  • Women's retailer Ann signs NDA with Golden Gate Tuesday, 14 Oct 2014 | 7:25 PM ET
    An Ann Taylor store on Fifth Avenue in New York.

    Ann said it had entered into a non-disclosure agreement with Golden Gate Capital, a month after some hedge funds pushed the company to sell itself.

  • Ann shares rise after disclosing Golden Gate pact Tuesday, 14 Oct 2014 | 6:52 PM ET

    NEW YORK— Shares of Ann Inc. rose in extended trading Tuesday after the women's clothing chain said it had a deal to provide confidential company information to one its investors, Golden Gate Capital. The private equity firm also has invested in Eddie Bauer and California Pizza Kitchen. This year it bought the Red Lobster chain from Darden Restaurants Inc. for...

  • Oct 14- Women's apparel retailer Ann Inc said it had entered into a confidentiality agreement with private equity firm Golden Gate Capital, a month after some hedge funds pushed the company to sell itself. Ann's shares were up about 7.4 percent at $39.50 in after market trading. Last month, hedge funds Red Alder LLC and Engine Capital urged Ann to consider selling...

  • SYDNEY, Oct 15- An Australian private equity firm is preparing the world's biggest listing of a cinema chain, in a shrinking market that's already the world leader in Internet piracy and is about to receive online streaming juggernaut Netflix. That comes ahead of an expected launch by Netflix in the home of Crocodile Dundee and Mad Max, threatening to speed up the...

  • Oct 14- Women's apparel retailer Ann Inc said it had entered into a non-disclosure agreement with private equity firm Golden Gate Capital, a month after some hedge funds pushed the company to sell itself. Last month, hedge funds Red Alder LLC and Engine Capital urged Ann to consider selling itself to a private equity firm or another apparel company, stepping up...

  • Oct 14- For over seven years, fund managing partners Bob Olstein and Eric Heyman have had the good fortune of investing in a number of companies that were later bought out or became targets of big-name shareholder activists. This year alone, their Olstein Strategic Opportunities Fund has seen two of its holdings targeted by activists and another six the object...

  • Warren Buffett's stock pickers are crushing it Tuesday, 14 Oct 2014 | 10:15 AM ET
    Berkshire-Hathaway's Todd Combs and Ted Weschler.

    So far, so good for the stock pickers Warren Buffett plucked from relative obscurity to manage billions of his dollars.

  • Great Northern Paper filings show deficit Tuesday, 14 Oct 2014 | 6:32 AM ET

    PORTLAND, Maine— Recent court filings have revealed the depths of Great Northern Paper Co.' s financial hole. The Portland Press Herald reports that the company, managed by New Hampshire- based private equity firm Cate Street Capital, has roughly $28 million in assets, but has liabilities of slightly more than $65 million. The two largest secured creditors—...

  • Providence Equity in talks to buy RentPath -sources Monday, 13 Oct 2014 | 5:54 PM ET

    Oct 13- Providence Equity Partners LLC is in discussions with TPG Capital LP to acquire a majority stake in RentPath Inc, a real estate listings company known for its Apartment Guide and Rent.com websites, according to people familiar with the matter. Providence Equity has so far prevailed in the auction for RentPath, which attracted other private equity firms,...

  • Ex-hedgie halts political run over harassment suit Monday, 13 Oct 2014 | 3:23 PM ET
    Marc Abrams

    A hedge fund manager turned politician has suspended his campaign because of old sexual harassment allegations.

  • Now Steve Cohen is paying for being extra ethical Monday, 13 Oct 2014 | 2:23 PM ET
    Steven Cohen

    Employees of Steve Cohen's new family office who do the right thing get up to a 4 percent bonus.

  • Wall Street backs GOP horses—with loads of cash Sunday, 12 Oct 2014 | 9:00 AM ET
    Elliott Management founder and CEO Paul Singer speaks during the SkyBridge Alternatives conference in Las Vegas, May 9, 2012.

    Wall Street is spending more on the midterms than ever before—particularly in support of the GOP—but it's not from whom you might think.

  • NEW YORK, Oct 12- Roger Dean Gillispie, a former General Motors security guard, spent 20 years in an Ohio prison for rape until a federal court ordered him released in 2011. Now he wants to sue GM for allegedly helping to frame him, and he's getting support from an unlikely source: hedge funds. Gillispie, who is waiting to see if he will face a new criminal trial, has...

  • Oct 10- Private equity firm Silver Lake failed to reach a deal to acquire and combine photo-sharing sites Shutterfly Inc and Snapfish by a deadline on Friday, Bloomberg reported, citing people familiar with the matter. Silver Lake was in advanced talks to acquire Shutterfly for at least $2 billion, Reuters reported last month. Bloomberg reported that Silver...

  • Oct 10- Renowned oil trader Andy Hall said his $3 billion commodities hedge fund lost less than 1 percent in September, despite a tumble in global crude markets, which he said will continue to struggle from huge supplies, a letter he wrote to his investors showed. Hall's Westport, Connecticut- based Astenbeck Capital Management, which manages approximately $3.2...

  • NEW YORK, Oct 10- Armored AutoGroup Inc is exploring an initial public offering that could value the maker of car care products at more than $1.5 billion, including debt, according to people familiar with the matter. Armored AutoGroup's owner, private equity firm Avista Capital Partners, is in talks with investment banks, including JPMorgan Chase& Co, about the...