Looks like the buy and hold strategy worked out for Singapore’s sovereign wealth fund, after it notched a $1.6 billion profit on a partial sale of its Citigroup Inc. (NYSE:C) stake. The Government of Singapore Investment Corp., or GIC reduced its holding of Citi to 5% from 9%, exchanging its $6.88 billion of convertible preferred [...]
Posts tagged with ‘Morgan Stanley’
FrontPoint Partners hired a new Asia-focused event-driven and special situations hedge fund investment team, led by portfolio manager John Foo.
The Singapore-based team all came from Kingsmead Capital Advisors, which Mr. Foo founded.
Joining him is Edgar Chia, analyst, and Hubert Yong, trader; they held similar positions at Kingsmead Capital, according to a FrontPoint news release.
Roger Lee, the previous head of Nikko Asset Management’s Singapore office, has joined Tarascon Capital, a Hong Kong-based hedge fund as COO.
Japan’s Nomura Holdings plans to launch a global prime brokerage business by September as the financial crisis has created room for new players to serve hedge funds, a senior executive said on Monday.
“We think prime brokerage is a very interesting opportunity because of what happened in the industry this past year,” Siggi Thorkelsson, Nomura’s head [...]
PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm’s London office, was responsible for unauthorized Brent crude futures trades which landed the firm with a loss of nearly $10 million.
NEW YORK (Reuters) – As hard-hit Western banks and hedge funds scramble to sell their Asian loans and bonds, one newcomer expects to pick up these choice assets at rarely seen discounts.
Opvs Group is launching two Asia-focused credit funds designed to benefit from the region’s underlying growth potential by acquiring debt at prices depressed by [...]
The sovereign-wealth funds are stirring. After going quiet as markets crashed and some high-profile investments in U.S. financial companies went awry, the huge pools of capital are back doing deals.
China Investment Corp. is poised to invest $500 million in a Blackstone Group hedge-fund unit as part of a broad effort to put cash to work while global markets are rallying but remain below earlier peaks.