Goldman Sachs Hedge Fund Head Pierre-Henri Flamand Said to Start Own Firm Pierre-Henri Flamand, the head of Goldman Sachs Group Inc.’s largest internal hedge fund, is retiring from the world’s most profitable securities firm to start a hedge fund, according to three people with knowledge of his plans.
Naked Swaps Crackdown Threat in Europe Rings Hollow Without Obama Backing European politicians and regulators could initiate a continent-wide ban on speculative trading of sovereign credit-default swaps tomorrow. Making it stick without the Americans won’t work.
KKR Leads $235 Million Debt Refinancing, Note Sale for Harden Healthcare KKR & Co., the private-equity firm run by Henry Kravis and George Roberts that’s expanding its investments outside traditional buyouts, led a $235 million refinancing for Harden Healthcare LLC.
Berkowitz Gets `Long Leash’ at Fairholme Fund to Pursue General Growth Bid Bruce Berkowitz’s bid to help take mall owner General Growth Properties Inc. out of bankruptcy isn’t the first time the manager of the $11.2 billion Fairholme Fund has strayed from conventional mutual-fund investing.
North Korean Bad Loan Bonds Due Today Spur Exotix Bet on Political Change North Korean bank loans, in default since the 1970s, present an opportunity for investors willing to speculate the communist country will seek to end its political isolation and honor its debts, according to Exotix Ltd.
Indian Billionaire Anil Ambani’s Venture Fund Plans to Double Investments Indian billionaire Anil Ambani’s venture fund plans to invest in areas including so-called clean technologies as it doubles investments over the next three years.
Macquarie May Seek Further Purchases in U.S. in `Once-in-Generation’ Push Macquarie Group Ltd., which made five North American acquisitions in 2009, may buy more U.S. assets and add bankers servicing mid-sized companies to gain a larger slice of the world’s biggest investment-banking market.
Shun Spain’s Bonds on `Death by 1,000 Cuts,’ Invesco, Merrill Lynch Say Investors should avoid Spain’s bonds as the euro region’s highest levels of joblessness stifle the country’s ability to cut its budget deficit, according to Invesco Ltd. and Bank of America Corp.’s Merrill Lynch unit.
Sovereign Wealth Funds Assets Increase 9% to $3.51 Trillion, Preqin Says Sovereign wealth funds’ total combined assets have climbed 9 percent from a year ago to $3.51 trillion, Preqin Ltd. said in an e-mailed press release.
Oaktree Capital Is Poised to Take Over Almatis in Debt-For-Equity Exchange Oaktree Capital Management LLC, the investment fund with about $73 billion under management, is set to take control of Almatis from Dubai International Capital LLC under the terms of a $1 billion debt restructuring.
European Private Equity Firms’ Fundraising Slumped 89% in 2009, EVCA Says European private equity firms raised 86 percent less last year than in 2008 as economic uncertainty pushed investors to curb commitments to new funds.