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Private Equity and Hedge Funds

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  • NEW YORK, Nov 3- The roaring comeback in U.S. stocks in late October has poked some prominent bears, who have argued the market's rise in the last two weeks is built on sand. "The S&P has been moving back up to the highs but the breadth has been much weaker and there are stocks that have gone down and have stayed down unlike in 2013 and late 2012 and early 2014," hedge fund...

  • Trick or treat at this billionaire's haunted house Friday, 31 Oct 2014 | 10:53 AM ET
    Lasry Halloween house

    This billionaire really likes Halloween. Every year, hedge fund titan Marc Lasry turns his posh New York City home into an elaborate haunted house.

  • NEW YORK, Oct 30- The U.S. Securities and Exchange Commission wants to make its $602 million settlement with SAC Capital Advisors hedge fund available to people who say they are victims of illicit trading by a former SAC portfolio manager, according to a lawyer representing them. District Judge Victor Marrero, who is presiding over the SEC's case, must still...

  • LONDON, Oct 30- "Who's got all the copper?" The answer, according to the Wall Street Journal, is Red Kite, the specialist metals hedge fund set up by Michael Farmer, a man who was trading the copper market before many younger readers were born. Today's LME dominant positions report WHL> shows one entity owning 80 to 90 percent of "live" copper tonnage in the LME warehouse...

  • Oct 30- Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday, as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets. A halt to the stock market rally weighed on the earnings of all of Apollo's publicly listed peers, with KKR& Co LP and...

  • Oct 30- Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets. Economic net income after taxes was $48 million versus $550.9 million a year earlier. This translated into ENI...

  • LOS ANGELES, Oct 30- A push to reform Phoenix's retirement system has become the latest front in a battle between union-backed groups and a Texas hedge fund billionaire over the future of America's public pensions. Hundreds of thousands of dollars, much of it anonymous out-of-state money, has been flowing to backers of a November 4 ballot initiative in Phoenix...

  • FRANKFURT/ MADRID, Oct 29- E.ON is asking bidders to submit binding offers for its Spanish business by Nov. 3, in a sale likely to fetch as much as 2.2 billion euros to help Germany's top utility cut debt, three people familiar with the matter said. Potential bidders include Australia's Macquarie, private equity firm CVC Capital Partners and Spain's largest utility...

  • Hedge funds muscle into reinsurance, attracting doubters Wednesday, 29 Oct 2014 | 8:59 AM ET

    LONDON, Oct 29- Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but sceptics are questioning whether they will stick around ahead of the next "big one" as underwriting returns fall. John Rathgeber, CEO of Watford Re which opened its doors this year, said his group used leverage and invested in assets such...

  • Studies find traders get data from SEC seconds early Wednesday, 29 Oct 2014 | 6:53 AM ET

    Rapid-fire investors get access to documents before other users of the SEC's system for distributing company filings, the Wall Street Journal reported.

  • Including the general partner's money in the average net returns can inflate the fund's average net performance figure, and the SEC is investigating whether private equity fund managers properly disclose whether they are doing that or not, the sources said. An SEC spokeswoman declined to comment. The SEC's focus on the average net IRR disclosures, which has...

  • NEW YORK, Oct 28- Hedge fund manager Jim Chanos, the prominent short-seller, said Tuesday he has lightened up on some of his bets against Brazil, saying most of the country's downside risk is priced in after the sharp selloff over the past two months. "I wouldn't be jumping wholeheartedly into the Brazil trade here," he said. Nevertheless, he added that he remains short...

  • Sex, drugs and biotechs in nasty divorce case Tuesday, 28 Oct 2014 | 1:33 PM ET
    Screen shot of Marc Beer on CNBC

    A nasty Wall Street divorce has touched two biotech CEOs and appears to have moved their company stocks down over drug use allegations.

  • Blackstone seeks $13B for real estate fund: Report Tuesday, 28 Oct 2014 | 8:34 AM ET

    Blackstone, the world's largest private equity investor in real estate, is preparing to seek around $13 billion for its next flagship fund.

  • NEW YORK, Oct 27- Blackstone Group LP, the world's largest private equity investor in real estate, is preparing to seek around $13 billion for its next flagship global real estate fund, in line with its predecessor fund, according to people familiar with the matter. Its latest fund, Blackstone Real Estate Partners VII, which raised $13.4 billion in 2012, reported a...

  • Ex-Chesapeake boss McClendon backs young hedgies Monday, 27 Oct 2014 | 11:10 AM ET
    Aubrey McClendon

    Aubrey McClendon is back in the hedge fund game, but this time he's taking a far more indirect approach with a pair of fellow Duke grads.

  • Oct 24- Hewlett-Packard Co has begun sounding out private-equity firms in China to buy its corporate-networking business in the country, the Wall Street Journal reported, citing people familiar with the situation. The buyer likely needs to be based in China if the deal is to win Chinese government approval, the newspaper reported. U.S. technology companies...

  • Oct 24- Amgen Inc, one of the world's largest biotechnology companies, will unveil next week its first strategy update since early 2013, but few expect a major shift like the split-up recently proposed by Daniel Loeb's Third Point hedge fund. In a letter to investors on Tuesday, Loeb said Amgen has "all the hallmarks of a hidden value situation" and should divide...

  • Oct 24- Private equity groups including Apax Partners LLP and Bain Capital are planning to bid for Portugal Telecom from Brazilian telecommunications company Groupo Oi SA, the Financial Times reported. Groupo Oi said earlier that it has been approached by several groups for purchase of Portugal Telecom, including France's Altice, which is backed by...

  • Hedge-fund cool: Charity jam for 'Rocktoberfest' Friday, 24 Oct 2014 | 10:43 AM ET
    Tim Seymour of CNBC and Triogem Asset Management sings at Hedge Fund Rocktober Fest in New York on Oct. 22, 2014.

    Wall Streeters traded their Bloomberg terminals for guitars and sunglasses to rock out for a good cause this week.