Australian Wealth Fund Ends Talks With Canadian Pensions on Transurban Bid Australia’s sovereign wealth fund terminated talks with two Canadian pension funds on joining a A$6.8 billion ($6.25 billion) bid for Transurban Group, sending shares of the toll-road owner tumbling in Sydney trading.
Soros Fund Management Buys $38 Million in Lehman Claims From Goldman Sachs Soros Fund Management LLC bought $38 million in claims on bankrupt Lehman Brothers Holdings Inc. from Goldman Sachs Group Inc., according to court filings today.
Elliott, Paulson Are Said to Weigh Investment in General Growth Properties Elliott Associates LP and Paulson & Co. are discussing a plan to team with Brookfield Asset Management Inc. to bring mall owner General Growth Properties Inc. out of bankruptcy, two people familiar with the talks said.
Tennenbaum Capital Said to Seek $1 Billion for Fund to Buy Distressed Debt Tennenbaum Capital Partners LLC, an investment firm founded by Michael Tennenbaum, is seeking about $1 billion to buy distressed debt after starting a bankruptcy- loan fund, said two people with knowledge of the plans.
Dai-ichi Raises $11 Billion in World’s Biggest IPO Since Visa Sale in 2008 Dai-ichi Mutual Life Insurance Co. will raise 1.01 trillion yen ($11 billion) in the world’s biggest initial public offering in two years after pricing the IPO at the middle of its forecast range.
Moore Capital, Deutsche Bank, Exane Workers Probed by U.K. in Insider Case Two senior professionals at “leading” London financial firms and a hedge-fund employee were arrested as part of Britain’s financial regulator’s largest operation to crack down on insider trading.
Rich Clients Pumped for Fees in Private Banking’s `Conflict of Interest’ After Steffen Binder and his partners sold a Frankfurt-based Internet research firm for $15 million in September 2000, he invested his share of the windfall with private banks. As the dot-com bubble burst, his holdings shrank faster and then rose more slowly than the market.
Madoff Victims Appeal Ruling on Picard’s Method for Paying Fraud Claims Former customers of Bernard Madoff, who conducted the biggest Ponzi scheme in U.S. history, have appealed a judge’s decision that lets the liquidator of Madoff’s business reject years’ worth of fake profit from the fraud when calculating victims’ claims for repayment.
Covered Bonds Rise Most Since ’06 Signaling Europe Rebound: Credit Markets Europe’s banks are selling covered bonds at the fastest pace in four years in a sign that debt investors are betting Europe’s economy is strong enough to weather the budget crisis in Greece.