Morgan Stanley Evaluating Its Investments in Hedge Funds, CEO Gorman Says Morgan Stanley is “evaluating” its investments in hedge funds including FrontPoint Partners LLC and London-based Lansdowne Partners LP, Chief Executive Officer James Gorman said today at an investor conference.
Volcker to Tell Senate Panel Hedge Funds Should Be Allowed to Profit, Fail Former Federal Reserve Chairman Paul Volcker plans to tell the Senate Banking Committee today that hedge funds and private-equity funds should be allowed to both profit and fail, without any expectation of government support.
Fidelity Slashes Online Trading Commissions in Challenge to Charles Schwab Fidelity Investments reduced online commissions for stock transactions in the U.S. by 60 percent and waived trading fees on two dozen exchange-traded funds, in a bid to attract investors and challenge Charles Schwab Corp.
BNY Mellon Agrees to Acquire PNC’s Global Investment Unit for $2.3 Billion Bank of New York Mellon Corp. agreed to buy PNC Financial Services Group Inc.’s global investment- servicing business for $2.31 billion to add hedge-fund and mutual-fund clients.
Galleon Prosecutors Gave Goffer Wiretap Recordings to SEC, Defense Claims Lawyers for Galleon Group LLC founder Raj Rajaratnam and ex-trader Zvi Goffer moved to block the U.S. Securities and Exchange Commission from using wiretap recordings obtained from prosecutors in the agency’s insider-trading suit.
Soros-Backed Venture Weighs IPO to Fund $700 Million Brazilian Sugar Mill Billionaire George Soros’s Adecoagro venture, which invests in agriculture and renewable energy in Latin America, is considering an initial public offering to help fund projects in Brazil that include a $700 million sugar mill.
CIC May Get $250 Billion Additional Cash This Month, Z-Ben Advisors Says China Investment Corp., the nation’s $300 billion sovereign wealth fund, may get at least $250 billion in extra funds before the Feb. 14 Chinese New Year, according to Z-Ben Advisors Ltd.
Apollo Forms Asia Property Fund Run by Ex-Colony Capital CEO Grant Kelley Apollo Global Management LLC, the buyout firm run by Leon Black and Joshua Harris, has set up its first Asia real estate fund to be run by Grant Kelley, former chief executive officer of Colony Capital Asia.