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MF Global Holdings Ltd, a broker-dealer providing trading and hedging solutions, has announced the pricing of its public offering of USD325 million aggregate principal amount of 6.250% senior unsecured notes due 2016.
MF Global intends to use at least USD100 million of the net proceeds of this offering to repay a portion of its outstanding indebtedness under its USD1.2 billion revolving credit facility and to use the remainder for general corporate purposes. MF Global expects to close the transaction on or about 8 August, 2011, subject to the satisfaction of customary closing conditions.
Jefferies & Company, Inc is acting as sole
Simon Hopkins (pictured), founder of Fortune Asset Management, the UK-based hedge fund investor sold to Close Brothers in 2006, has re-emerged as the founder of Singapore-based Milltrust International Group, an emerging markets investment platform focused on Asia, Africa and Latin America.
The firm is on the verge of launching a range of institutionally-focused, managed account-based funds for emerging markets, drawing on the expertise of some of the more established local asset management firms. It is also providing institutional investors with access to pre-screened private equity investments focused on the developing world.
"Our research shows that international investors are
Former Carbon360 Director of Research, Daniel Golyanov, has launched Vela Advisers, a New York-based consulting and advisory firm targeting both managers and administrators with comprehensive range of services.
Vela’s offering features a suite of services for alternative fund managers and fund services providers.
Fund Services Finder is a free service to assist in the fund administrator selection process. Taking into account the manager’s holdings, fund structure, and reporting needs, Vela Advisors will screen and negotiate with dozens of providers to find a perfect partnership.
"There was a definite need in the market for a service to help managers select
It’s been an interesting journey for UBS’s new Global Head of Hedge Fund Distribution, John Dyment: a newly created role within Global Prime Services that befits someone of his standing and expertise in the financial services industry.
The New York-based role, which Dyment began earlier this month, will see him drive forward and develop UBS’s hedge fund franchise, taking responsibility for sales, capital introduction and business consultancy services. What makes this unique, however, is that no one else is doing it: that is, breaking down the communication flow across product to service and grow a strategically important client segment. “It’s
Dow Jones Indexes has launched the Dow Jones Islamic Market RBP US 50 Index, a unique gauge designed to measure the largest 50 US stocks ranked by RBP probabilities supplied by Transparent Value, LLC that have first passed the screens for Shari’ah compliance.
RBP, which stands for Required Business Performance, is calculated by Transparent Value by taking a reverse discounted cash flow approach to determine the future business performance required by a company to support its current stock price. RBP probabilities measure the likelihood that a company can deliver the required business performance identified by applying the methodology over specified
Kinetic Partners, a global professional services firm to the asset management, investment banking and brokerage community, has recruited Christopher Stride as a member of the Firm’s New York office.
Stride, 41, will focus on the Consulting division specialising in corporate recovery and forensic engagements. His primary role will include building relationships with the US legal community to develop Kinetic Partners’ growing onshore insolvency restructuring and forensic practice.
Stride has deep expertise in working with insolvent hedge funds, and his high-profile representation of offshore investment vehicles provides an excellent fit to Kinetic Partners’ expanding presence in the New York market. He
The Credit Suisse LAB Liquid Indices posted negative performance in July according to Dr Jordan Drachman, Head of Research for Alternative Beta Strategies at Credit Suisse.
Drachman says: "The Credit Suisse Liquid Alternative Beta Index (CSLAB), which aims to reflect the performance of the overall hedge fund industry, generated negative performance in July, finishing down 0.95% for the month. The Long/Short Equity sector saw the most significant declines, finishing down 1.69% as uncertainty regarding Greek Debt and US debt ceiling negotiations outshone a generally positive Q2 earnings season. Despite July losses, the strategy remains up 3.43% year-to-date."
FirstPEX, Europe’s first, interactive auction platform to trade privately-owned shares and investments is being launched in the UK by Swiss-based technology firm LPO Ventures
LPO Ventures expects trading volume to quickly increase from around EUR1-2 billion over the next 12 months or so to around EUR10 billion in 2015, based on analysis of the growth of similar markets in the US.
UK SMEs, family businesses and entrepreneurs can place their companies on the site, offer holdings in their firms to investors registered on the platform who can then trade these stakes online.
Private firms in other EU countries as well
Interview with Michael Stapleton – Ireland’s economic woes are well documented. Spiralling real estate prices and failing banks have created domestic economic contraction over the last three years, but the European Commission forecasts 3% growth in 2011.
Factor in that Ireland was the second largest net recipient of non-EU foreign direct investment (UK being number one), attracting EUR21billion, and Michael Stapleton, VP Financial Services at the Investment Development Agency, (IDA Ireland) has cause for optimism.
"None of Ireland’s indigenous problems directly impact on the bigger drivers of the Irish economy, which are multinational companies such as Microsoft, State Street, Citibank,"
By James Williams – Ireland has had a lot to contend with, economically, in recent times. Earlier this year the Irish Central Bank identified that an additional EUR24 billion was needed on top of the EUR46 billion bailout package to Ireland’s failing banking system agreed upon back in September ’08. Allied Irish Bank, Bank of Ireland, building society EBS and Irish Life and Permanent all received emergency funds. Bank of Ireland now remains the only Irish bank not to be fully nationalised. Finance Minister Michael Noonan said that the country’s banks would be turned into two new “universal pillar banks”
