Hong Kong Jockey Club began making direct allocations to hedge funds, said Jacob Tsang, director of group treasury at the city’s only horse-racing operator, which has invested more than $1 billion in alternative assets.
Och-Ziff Capital Management Group LLC, the hedge-fund firm run by Daniel Och, fell after saying U.S. regulators are investigating whether it broke bribery laws in accepting an investment from a sovereign wealth fund.
Hypo Real Estate Holding AG, the German lender that received a government bailout, drew offers of as much as 350 million euros ($472 million) for Dublin-based Depfa Bank Plc, two people familiar with the matter said.
A new rule forcing banks to sell a type of complex debt security created before the financial crisis is having a surprising effect: luring buyers to the market and driving up the prices of those bonds.
BlackRock Inc. said it complied with Italian disclosure requirements after a regulator said the world’s largest money manager may have broken rules by failing to report an increase of its stake in Telecom Italia SpA.
Telecom Italia SpA, responding to a market regulator’s questions, said it prioritized BlackRock Inc, Telefonica SA and Och-Ziff Capital Management Group LLC in its mandatory convertible bond sale last month.