More Than 12 Hedge Funds Plan Asia Offices, Move Staff, Merrill Lynch Says Bank of America Merrill Lynch is helping more than a dozen multibillion dollar international hedge funds set up or reestablish a presence in Hong Kong and Singapore as the U.S. and Europe increase industry regulation.
Singapore’s GIC Says Emerging Markets Will Lead Investments Amid Recovery Government of Singapore Investment Corp., manager of more than $100 billion of the city-state’s foreign reserves, said emerging markets will become a leading source of investment and credit as Western economies take longer to recover from the financial crisis.
EQT Director May Have Been Murdered in Munich for His Audi A8 Luxury Sedan A director of private-equity firm EQT Partners AB who previously worked for Morgan Stanley may have been murdered as he was trying to sell his Audi A8 luxury sedan, Munich police said.
Japan Airlines Bondholders May Recover 25% After Default, Survey Shows Japan Airlines Corp. bondholders may recover 25 percent of face value if Asia’s biggest carrier files for bankruptcy tomorrow, according to the median forecast of five analysts surveyed by Bloomberg News.
Former AIC Chief Wellum Starts Private-Client Firm After Sale to Manulife Jonathan Wellum, former chief executive officer of fund manager AIC Ltd., opened his own money-management firm to advise private clients.
Citadel’s Kaplan, Head of Investment Banking, Quits After Year on the Job Todd Kaplan, head of investment banking at Citadel Investment Group LLC, quit less than a year after joining the firm in the latest resignation of a top executive at the $13 billion hedge-fund company.
Man Assets Fall as Flagship AHL Diversified Fund Incurs First Annual Loss Man Group Plc, the largest publicly traded hedge-fund firm, posted a bigger-than-expected decline in assets in the last three months of 2009 as its main fund logged its first annual loss. The stock tumbled 6.9 percent.
BC Partners to Start Raising Biggest Buyout Fund Since Lehman’s Collapse BC Partners Ltd., the private equity firm that has stakes in Office Depot Inc. and Foxtons Ltd., plans to start raising about 5.8 billion euros ($8.4 billion) for leveraged buyouts this year, the biggest test of investor appetite for such funds since Lehman Brothers Holdings Inc. collapsed in 2008.
Extended Stay Wins Two Extra Months for Deadline on Reorganization Plan Extended Stay Hotels Inc., the U.S. hotelier bankrupted with $7.6 billion of debt, was given two more months by a New York judge to independently file a turnaround plan as creditors vie to take over the process.
Goldman Will Monitor China, Hong Kong, Singapore Real Estate for Bubbles Real estate prices in China, Singapore and Hong Kong need monitoring for signs of bubbles forming as Asia continues to grow rapidly this year, said Fred Hu, Goldman Sachs Group Inc.’s chairman of Greater China.
`Russiaphile’ Stock Funds Push Inflows to Two-Month High; Micex Advances Investors increased Russian equity fund holdings by the most in more than two months, helping push the world’s best-performing 2009 stock market higher in its first week of trading this year.