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Private Equity and Hedge Funds

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  • Jan 20- Apparel retailer Express Inc said it ended talks to be bought by private equity firm Sycamore Partners, its largest shareholder, due to unavailability of financing. Shares of Express, which was once a division of L Brands Inc, were down nearly 13 percent at $12.60 in premarket trading. Private equity firm Golden Gate Capital took Express private in 2007 and...

  • Takeover talks between Express, Sycamore Partners end Tuesday, 20 Jan 2015 | 8:29 AM ET

    NEW YORK— Takeover talks between retailer Express and private equity firm Sycamore Partners have ended, the companies said Tuesday. In June Express Inc. announced that it had been approached by New York- based Sycamore Partners about a potential deal. The companies said Tuesday that Sycamore Partners has agreed to certain restrictions, including waiting...

  • Express Inc ends deal talks with Sycamore Partners Tuesday, 20 Jan 2015 | 8:21 AM ET

    Jan 20- Apparel retailer Express Inc said it terminated talks to be bought by private equity firm Sycamore Partners, its largest shareholder. The company said talks ended due to the "unavailability of financing on commercially acceptable terms". Express's shares were down nearly 12 percent at $12.75 in premarket trading on Tuesday.

  • "If you want to see how the international aviation landscape is going to evolve, just look to the United States, where consolidation has left just four major legacy carriers to compete with the low-cost airlines that serve the rest of the market," said Franke, managing partner of Phoenix- based private equity firm Indigo Partners. The former chairman of America...

  • Big fund shuttered after franc shock: Report Saturday, 17 Jan 2015 | 11:36 AM ET
    People queue outside a currency exchange office in Geneva, January 15, 2015. The Swiss National Bank scrapped its cap on the franc on Thursday sending the safe-haven currency crashing below the 1.20 per euro floor it set over three years ago.

    Switzerland's decision to allow its currency to float freely against the euro may have claimed another victim—Everest Capital's Global Fund.

  • BOSTON, Jan 16- Eric Mindich's $8.5 billion hedge fund, Eton Park Capital Management, is now ready to pick through the debt of beaten-up energy companies, an area it avoided last year as the price of oil tumbled. Eton Park dropped mortgage companies Fannie Mae and Freddie Mac with a big profit before a U.S. judge threw out a lawsuit filed by shareholders to prevent the...

  • NEW YORK, Jan 16- Jim Chanos, founder of hedge fund firm Kynikos Associates, said on Friday he is betting against the shares of chipmaker Intel Corp.. "We're short Intel," Chanos told cable television network CNBC. Chanos, who has been critical of the personal computer sector and has bet against companies such as International Business Machines Corp and...

  • Kynikos' Chanos says he is short Intel Corp - CNBC Friday, 16 Jan 2015 | 8:13 AM ET

    NEW YORK, Jan 16- Jim Chanos, founder of hedge fund firm Kynikos Associates, said Friday that he is betting against the shares of Intel Corp.. "We're short Intel," Chanos told cable television network CNBC. Chanos, who has been critical of the personal computer space and has bet against companies such as IBM and Hewlett Packard, said on Intel: "It's got the same challenges."

  • UPDATE 2-FX market absorbs 'meteorite' of Swiss shock Thursday, 15 Jan 2015 | 5:05 PM ET

    LONDON, Jan 15- The foreign exchange market defied worries about systemic failure on Thursday as Switzerland's move to cut its franc currency loose jolted it with the biggest market swing since the 1970 s. "This was really a meteorite crashing into the foreign exchange market," said Douglas Borthwick, managing director at Chapdelaine Foreign Exchange in New...

  • LONDON, Jan 15- Hit with a "meteorite" on Thursday as Switzerland cut its franc currency loose, the foreign exchange market nevertheless managed to stay on its feet. On the EBS trading system, one miss-hit saw the euro quoted at 0.0015 francs, having spent the last few months ranging between 1.20 and 1.21 francs. For market participants, that is just very difficult to...

  • NEW YORK/ LONDON, Jan 15- Currency speculators, especially large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. "You have these massive policies which forced all investors to invest with the...

  • NEW YORK/ LONDON, Jan 15- Currency speculators, particularly large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. "You have these massive policies which forced all investors to invest with the...

  • BlackRock's earnings beat Wall Street estimates Thursday, 15 Jan 2015 | 7:44 AM ET
    Larry Fink, Chairman and CEO of BlackRock.

    BlackRock, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased.

  • Jan 14- A former top executive of Steven Cohen's SAC Capital Advisors LP is close to launching a roughly $1 billion hedge fund in March, the Wall Street Journal reported. Solomon "Sol" Kumin, who was SAC's chief operating officer until January last year, has raised about $1 billion for his Folger Hill Asset Management LLC, the Journal said, citing a person familiar...

  • Bill Ackman: Herbalife short was 'philanthropic' Wednesday, 14 Jan 2015 | 4:39 AM ET
    Bill Ackman joins Squawk Box on their first day at their new set in New York City.

    Activist investor famous for his high-profile battle with Herbalife claims short was 'most philanthropic investment I have ever made.'

  • Jan 13- Pet supply retailer PetSmart Inc disclosed on Tuesday it was in talks to acquire or merge with a privately held rival, but ended talks over competition and antitrust concerns. PetSmart succumbed to calls from Jana Partners LLC and other large shareholders for a sale last month by agreeing to be bought by a private equity consortium led by BC Partners Ltd...

  • Wing Chau and his firm Harding Advisory LLC were found liable by Securities and Exchange Commission Administrative Law Judge Cameron Elliot. The SEC had accused Chau and his firm of allowing a hedge fund to control which assets backed a $1.5 billion structured collateralized debt obligation known as " Octans I CDO Ltd" without disclosing that critical...

  • LONDON, Jan 12- European shares ended higher in volatile trade on Monday as slumping oil prices lifted shares of companies that benefit from lower fuel prices, such as airline Lufthansa, helping to offset a fall in energy companies' shares. Traders blamed a report by analysts at bank Goldman Sachs, who cut their three-month forecasts for Brent to $42 a barrel from...

  • Jan 12- A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was the plundering of the company. The involuntary bankruptcy petition was filed by affiliates of Appaloosa Management, Oaktree Capital Management and...

  • Apollo-backed Prestige Cruises withdraws IPO plan Monday, 12 Jan 2015 | 12:34 PM ET

    Jan 12- Prestige Cruises International Inc, backed by private equity firm Apollo Global Management LLC, filed with U.S. regulators to withdraw its plan for an initial public offering.