July 28, 2012 6 Comments
July 28, 2012 1 Comment
(Seeking Alpha) In 2005, Nelson Peltz co-founded Trian Fund Management L.P. with Peter W. May and Edward P. Garden. The company currently has some $4 billion in assets under management. Peltz is an activist investor, who serves as a chairman of the board at Wendy’s (WEN) and a director at Legg Mason (LM) and H. J. Heinz Company (HNZ). The fund applies a value-oriented strategy to investments in public equities. According to Forbes, “the hedge fund firm’s flagship long/short equity fund, Trian Partners, returned 7.02% net of fees” in 2011, beating its competition on average. ===> Continue Reading at Seeking Alpha
July 27, 2012 1 Comment
(Reuters) – Former Goldman Sachs managing director in Hong Kong Christopher Mikosh is preparing to launch a credit hedge fund by the fourth quarter of this year or early 2013, sources said on Thursday, lifting prospects for the $127 billion industry in Asia.
Mikosh, who was a trader within the special situations group of Goldman Sachs in Hong Kong, left the Wall Street bank at the beginning of the year to start his own firm called TOR, said six sources familiar with the plan. ===> Continue Reading at Reuters
July 27, 2012 Leave a comment
(Yahoo!Finance) There’s certainly a long list of scary things happening in the world right now that are keeping investors on edge and up at night. But for fund manager Scott Mullinix, who co-manages the Nuveen Large Cap Growth Opportunities Fund (FRGWX), China sits at the top of his list.
“The signs that we’re seeing out of China right now are quite negative,” he says in the attached video. While he believes the market understands the regional risks in Europe, the global fallout from just one misstep by China’s relatively new economic planners “would have major ramifications for world GDP.”
While the IMF now says China should be able to pull off a so-called soft landing, it also warns that there are still significant downside risks to the world’s second largest economy. Risks that need only see Chinese growth slip to “4 to 5 percent” from 7.6% currently, Mullinix says, and the impact “would be very bad.” ===> Continue Reading at Yahoo!Finance
July 25, 2012 Leave a comment
(Reuters) – China plans to double the amount insurers can invest in private equity and allow them to trade financial derivatives both at home and abroad as part of efforts to broaden their investment scope, according to a set of draft regulations seen by Reuters.
Insurers will be permitted to invest up to 10 percent of their total assets in private equity, compared with 5 percent previously, according to rules drafted by the China Insurance Regulatory Commission (CIRC). That would potentially unleash about $50 billion of fresh capital into unlisted firms. ===> Continue Reading at Reuters
July 24, 2012 Leave a comment
(Bloomberg) Ueli Wick, a former Credit Suisse Group AG banker who in June began running his own Singapore hedge fund, says he isn’t bothering to court investors right away. Instead, he wants to focus on performance.
“It’s not that easy to go out with a good story and just raise money like that,” said Wick, 41, who founded Baruna Asset Management Pte with $15 million of his own money and some from family and friends. “People just want to see more proof and tangible numbers because they’ve just been too disappointed with hedge funds and are extremely skeptical. To get big money, I need to deliver first.” ===> Continue Reading at Bloomberg
July 23, 2012 Leave a comment
(Reuters) – News and developments in Asia private equity from Reuters News for the week ending July 20.
U.S. PRIVATE equity fund Carlyle Group has raised about $720 million from the sale of a stake in China’s third-largest insurer, China Pacific Insurance (Group) Co Ltd , a source with direct knowledge of the deal said.
U.S. PRIVATE equity firm TPG Capital is considering partnering with a Hollywood media executive to bid for debt-laden Australian media company Nine Entertainment Co, sources said, in what could be a $3.1 billion buyout.
WARBURG PINCUS, a stakeholder of Titan Petrochemicals Group Ltd, has sued Titan and some of its executives in Hong Kong’s High Court for misrepresentation and breaches of contract.
===> Continue Reading at Reuters