Citigroup To Settle HF Fraud Lawsuit for $13.5M
The bank allegedly deceived investors on the state of its liquidated corporate special opportunities hedge fund in 2007, according to court documents.
News
Insurer Sued Over Fees for Funds it Doesn’t Manage
Investors are unhappy with fees charged by State Farm Investment Management for target-date funds run by BlackRock.
Private Debt Funds Awash with Cash, Not Opportunities
More private debt fund managers are open to co-investment with institutions as competition in the sector increases.
Guggenheim Fined $20M for Conflict of Interest Charges
The firm’s subsidiary, Guggenheim Partners Investment Management, failed to report a $50 million loan from a client to a senior executive in 2010, the SEC said.
Farmers Insurance Names Karyn Williams as CIO
The current head of insurance investments is expected to lead all investment operations effective September 1.
Investors Underestimating China Risk, Manager Warns
China’s summer market crash didn’t provide a sufficient reality check, asset manager NNIP claims.
World's Largest SWF Blasts Exchanges
Chasing ever-faster data transfer speeds are a “dead end” for stock exchanges, Norway’s sovereign wealth fund argues.
Ex-Stanford CEO John Powers Joins Credit Suisse
Powers has been tapped to lead the Swiss bank’s hedge fund-buying business just months after leaving the $25 billion endowment.
NY State Teachers’ Taps Insider as PE Chief
After 12 years with the $109 billion fund, Gerald Yahoudy has moved up to managing director of private equity.
London Pension Rejects Divestment Demand
The UK capital’s government wants its biggest fund to exit fossil fuels—but the pension is sticking to its existing policy.
Why Asset Managers Shouldn’t Ignore the SEC’s PIMCO Probe
Bond market illiquidity and mega-manager leverage foster compliance issues—and not just for PIMCO, Morningstar argues.
Distressed PE 'Likely to Outperform Consistently'
Nearly half of distressed private equity funds performing in the top quartile went on to repeat that success in a subsequent fund.
TIAA-CREF’s OCIO Swells with Single Win
Endowment outsourcing arm Covariance will leap in size by a third after securing a major mandate.
PGGM Turns Heat Up on Remuneration Practices
One of Europe’s biggest asset owners wants to set a new standard for salaries and bonuses in the financial and corporate worlds.
Rate Rises Won’t Help Active Managers, S&P Warns
Research finds no historical evidence for higher interest rates increasing price dispersion in equity markets.