TCW Group Inc., the $128 billion asset manager bought by Carlyle Group LP in February, is expanding its alternative offerings under new head Jess Ravich with the purchase of Craton Equity Partners. Terms of the transaction weren’t disclosed.
Demand for corn and soybeans in China, the world’s biggest consumer of grain and meat, will climb as the expanding economy raises incomes and improves diets, said an executive at Cargill Inc., the largest U.S. agricultural company.
Bank of New York Mellon Corp., targeted by New York for allegedly violating state law while representing mortgage-bond investors, was accused by Knights of Columbus of damaging its investment in mortgage securities.
DoubleLine Capital LP’s Jeffrey Gundlach told a jury he and other group managers at TCW Group Inc. opposed the appointment of Marc Stern as chief executive officer in June of 2009, six months before Gundlach was fired.
Former Societe Generale SA investment banking chief Jean-Pierre Mustier , who led the division where Jerome Kerviel worked, was fined 100,000 euros ($122,900) by France for selling shares of the bank before it announced losses tied subprime mortgages.