Leon Black, who made billions by buying up debt of companies in the U.S. and Europe that others deemed worthless, is turning to emerging markets as the next source of growth for his $161 billion money management firm.
A former Microsoft Corp. employee was charged with stealing the software maker’s trade secrets, including code for a program to protect against copyright infringement, and leaking them to a blogger in France.
The head of the world’s largest distressed debt fund is emphasizing the need for making careful choices as loan funds inundated with unprecedented cash enable junk-rated companies to borrow at cheaper rates.
Microsoft Corp., responding to a Wall Street Journal report that federal regulators are investigating the company’s ties to partners accused of bribing foreign officials, said it takes the allegations seriously.
Oaktree Capital Group LLC, the distressed-debt investor that went public in April, posted a third-quarter profit compared with a loss in the year-earlier period as assets rose and the firm gathered more fees.