Lehman Brothers Holdings has reached an agreement among several creditor groups, including Paulson & Co, a large Lehman bondholder, and Goldman Sachs, a derivatives counterparty to Lehman.
While an audit of the Kentucky Retirement Systems found no evidence of pay-to-play activity, "troubling aspects" regarding the use of financial middlemen that connect money managers with pensions, known as placement agents, were revealed.
Bank of America has agreed to settle for $14 billion with investors who bought ill-fated subprime mortgage securities from its Countrywide Financial subsidiary.
The nation's largest public pension fund paid $11 million to a Washington, DC, law firm to conduct an internal review, raising questions over legal fees.
Fueled by the entrepreneurial culture in the United States, asset owners have retained an appetite for innovation where specific principles are met, a new study shows.
Australian superannuation funds need to begin preparing themselves for impending regulatory reform to avoid being caught flat-footed, consultants have warned.
New research by Citi Prime Finance shows institutional investors had approximately $1.1 trillion in hedge funds in Q1, while an increasing number of fund managers have shifted to direct hedge fund investing following the financial crisis.
A class action lawsuit has been filed on behalf of employees in Alabama's state pension plan, raising questions over investments in golf courses, condominiums, hotels, and resorts.
In a deal that mirrors New Jersey’s, the Canadian province’s massive pension system will see its deficit erased via an increase in contributions from the government and members.