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’If Blackstone is selling, why are you buying?
One by one, the big companies of the alternative investment industry are selling – but this may well be a trend to sit out, says Matthew Lynn in his Bloomberg column.
Blackstone, which has spent $160bn taking companies private in the past two decades,
Floating Blackstone
As reports emerge about plans by Blackstone Group to consider an initial public offering, the Wall Street Journal says a Blackstone IPO would place under scrutiny – and possibly lead to changes in - the highly lucrative private-equity business model that has transformed Wall Street in recent years. Blackstone’s plan,
Markets live transcript 6 Mar 2007
Markets live chat transcript for the chat ending at 11:35 on 6 Mar 2007. Participants in this chat were: Paul Murphy (PM) Neil Hume (NH)
PM: Welcome to Markets Live, Alphaville’s daily discussion of what’s moving and why
PM:
Fortress jumps on EMI bandwagon
Fortress, the US hedge fund and private equity group, is among a pack of buyout firms circling EMI, the troubled British music company, this weekend, reports the Sunday Telelgraph. Fortress, which raised $635m in a New York listing earlier this month and has since seen its share price soar,
Form an orderly queue – another hedge fund considers listing
Here they come. After the feeding frenzy over the Fortress IPO, it was a safe bet that they’d be more than a few funds keen to pull of a similar feat themselves.
Hedgefund.net (via Marketbeat) reports that LA hedge fund Signal Capital Management plans on selling a small equity stake in itself by March.
40x earnings? Are you stoned?
That is Roger Ehrenberg’s assessment of the Fortress IPO. The former head of Deutsche Bank’s fund of hedge funds, and blogger at Information Arbritrage, wasn’t planning to write another post on the Fortress offering but felt forced back to the keyboard after events of last week.
Health warning: Fortress and other hedge IPOs now resemble Russian floats
Some time ago, when this rookie correspondent was busy covering the great British corporate collapses of the early 1990s for Britain’s Daily Telegraph (Polly Peck, Maxwell Communications, Brent Walker,
Fortress prices share offering
Fortress Investment Group, the first major US hedge fund and private equity group to go public, on Thursday night priced its IPO at $18.50 a share, the high end of its projected range of $16.50 to $18.50,
Fortress float demand ‘insane and ridiculous’
Fortress Investment Group, which on Thursday will become the first US hedge fund and private equity group to go public, is generating intense demand for its shares among investors anxious to grab a slice of the flotation,
Fortress, folly, or just a sand castle? You decide.
Those answering the phone at the office of Lilly H Donohue, managing director, Fortress Investment Group LLC, are under clear enough instructions: “I’m not aware we are authorised to release our prospectus to the media as yet.
Fortress aims for $634m float
New York’s Fortress Investment Group is set to secure its place in the history books as the first alternative asset managers to go public in the US, reports DealBook, picking up a Bloomberg story.
Fortress is seeking to raise as much as $634m in its initial public offering.
Hedge funds explore listed existence
The listing of hedge funds looks set to be a continuing theme in 2007. A range of smaller hedge funds and alternative managers have already floated in Europe last year – including BlueBay, Ashmore and Charlemagne Capital.
Nomura to take 15 per cent of Fortress
Could Nomura’s ambition to expand sales of hedge funds and other investment products in Asia have anything to do with the $888m purchase price of its stake in Fortress? Eight is considered the most fortuitous of numbers in some parts of the region.