Cowen Group is to acquire Convergex Group from private equity firm GTCR, Bank of New York Mellon and other shareholders for a total consideration, less certain closing adjustments, of USD116 million in cash and Cowen common stock. With combined pro
ITI Group has acquired a 100 per cent stake in Uralsib Securities. Based in the UK, Uralsib Securities, now renamed ITI Capital, holds a Financial Conduct Authority license for broker-dealer operations and asset management. ITI Capital offers direct market access
NewStar Financial has closed the NewStar Berkeley Fund CLO, a USD505 million middle market collateralised loan obligation managed for qualified institutional investors. The Berkeley Fund is the fourth credit fund sponsored by NewStar to co-invest in middle market commercial loans
The hitherto opaque alternative investment funds (AIFs) industry has been making significant strides towards transparency, driven largely by the demands of institutional investors and global regulators, who want to see AIFs deliver clarity and accuracy in their trading and investor
Allianz Global Investors (AllianzGI) is to add Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, to its private debt platform. AllianzGI will acquire Sound Harbor’s assets for an undisclosed sum and the Sound
USCF has launched the company's first mutual fund, the USCF Commodity Strategy Fund, with SummerHaven Investment Management, a Stamford, Connecticut based commodity trading adviser. The mutual fund will initially offer two share classes: A shares and I shares. The
By Richard L Shamos (pictured) and Ron S Geffner, Sadis & Goldberg – The global investment funds marketplace today is beset by contradictory economic forces, with increasing financial opportunity accompanied by a rising regulatory burden and populist politics. These tensions are
Softbank’s decision to choose a Jersey-based financial services company to administer its USD100 billion technology fund is expected to lead to more funds domiciling in the island. The Softbank Vision Fund was launched in October 2016 with the aim of
European regulators have blocked the proposed merger between Deutsche Börse and the London Stock Exchange Group. The EU Commission says the deal would create a “de facto monopoly” for certain financial services, despite remedial measures offered by both companies to
SEI increased its assets under administration (AUA) by 25 per cent in 2016, with year-over-year net flows in its UK private banking business rising by 21 per cent. The business, which provides outsourced investment processing technology for private banks and
