Church of England Pension Fund Lost 20% in 2008 as Global Market Collapsed The Church of England’s investment fund, which pays the pensions of retired clergy, lost 20 percent of its value last year as the global financial crisis caused stock markets to fall and property values to slump.
Samena Capital Starts Japan-Focused Stock Hedge Fund After Exodus in 2008 Samena Capital, a London-based investment firm with more than $200 million, will start a Japan- focused hedge fund, betting the nation’s stock prices will continue to rebound in the wake of the global credit crisis.
KKR Is Expanding Middle East Presence, Sees Opportunity in Saudi Arabia KKR & Co., the leveraged buyout firm run by Henry Kravis and George Roberts, is studying possible investments in Saudi Arabia as it prepares to expand in the Middle East.
Huntsman Keeps Most Claims in Lawsuit Against Credit Suisse, Deutsche Bank Huntsman Corp. defeated an effort by Credit Suisse Group AG and Deutsche Bank AG to throw out five of the chemical maker’s claims against the banks in a Texas lawsuit over a failed $6.5 billion merger with a unit of Apollo Management LP.
Law Firm Founder Marc Dreier Pleads Guilty in Fraud, Faces Life in Prison Marc Dreier, the New York law firm founder accused of defrauding hedge funds by selling $700 million in phony promissory notes, might face life in prison after pleading guilty to fraud charges.
Economists Turn Bleaker on U.S. Recovery With Jobless Rate at 8.5% in 2011 Economists downgraded their projections for a recovery from the deepest U.S. recession in half a century, now seeing the jobless rate exceeding 8 percent through 2011, a Bloomberg News survey showed.
Coronation Profit Drops as Market Declines Reduce Assets Under Management Coronation Fund Managers Ltd., the only money manager on the Johannesburg Stock Exchange, said fiscal first-half profit dropped 19 percent as falling stock markets reduced the value of assets overseen by the company.
Madoff’s Brother Peter Asks Court to Dismiss Law Student’s Fraud Complain Peter Madoff, the brother of convicted Ponzi scheme mastermind Bernard Madoff, asked a New York judge to dismiss a lawsuit brought against him by a student claiming to have lost his $470,000 inheritance.