Riverstone Holdings LLC received demand from buyers for the minimum 670 million pounds ($1.1 billion) it seeks to raise in an initial public offering in London of an energy-investment company, according to people familiar with the situation.
Riverstone Holdings LLC, the private-equity firm that invests mainly in North American energy assets, will raise as much as $2.4 billion (1.5 billion pounds) through an initial public offering in London.
In Southampton on Saturday night, Martin Gruss, senior partner at Gruss Investments LLC, and Wilbur Ross, chairman of WL Ross & Co., attended the Southampton Hospital Gala, which raised $1.7 million, according to a statement from the hospital.
Louis Bacon’s decision to return $2 billion to investors highlights the difficulties the biggest macro hedge funds are having this year as government intervention and declining trading volumes limit managers’ ability to make large bets.
For many hedge funds, financial rules and state intervention in markets are anathema. Emanuel J. Friedman, former co-chairman of investment bank Friedman, Billings, Ramsey Group Inc., sees them as an opportunity.