Seed Capital

Kathryn Wasserman Davis, Head of Investing Family, Dies at 106

Kathryn Wasserman Davis, a globetrotting philanthropist who provided the startup funds that her husband, Shelby Cullom Davis, used to become one of America’s most successful investors, has died. She was 106.

U.S. Hedge Funds Swoop on Traders at Struggling Europe Startups

U.S. hedge funds Pine River Capital Management LP, Millennium Management LLC and SAC Capital Advisors LLC are taking advantage of the struggle of European startup funds to grab their pick of the region’s traders.

Ivaldi Backs Two Asian Startup Hedge Funds Filling Funding Gap

Ivaldi Capital LLP, founded by three former Citigroup Inc. prime brokers, is backing two Asian hedge funds that will start trading in the first half of 2013, said Chief Executive Officer William Potts.

Steinmetz Real Estate Hires RREEF’s Papachristophorou

Chris Papachristophorou, former global head of Deutsche Bank AG’s RREEF Opportunistic Investments, is joining Beny Steinmetz Group Real Estate to run a private-equity venture that aims to invest $2 billion.

Goldbridge Gets Seed Capital From Northill for Distressed Debt

Northill Capital LLP is providing financial backing to Goldbridge Capital Partners, a new European credit fund and distressed debt investor.

Orix Gives Private-Equity Fund for Life Sciences $150 Million Seed Capital

Orix USA Asset Management is providing $150 million in seed capital to two Fortress Investment Group LLC alumni for a private-equity fund focusing on health-care and life sciences companies.

Ex-Halcyon Executive to Open European Distressed Debt Fund

A former managing principal at Halcyon Asset Management LLC expects to begin trading a new distressed debt fund next month as investors in Europe and the U.S. look to take advantage of mispriced European securities.

EU Budget Showdown Pits Bee Subsidies Against Veto Threat

A sum equal to 1 percent of the European Union’s gross domestic product will devour 100 percent of the bloc’s political energy when leaders square off over subsidies for everything from bridges and windmills to olive trees and the dwindling honeybee population.

Galena Raises $275 Million for Private Equity Resource Fund

Galena Asset Management Ltd., a unit of commodities trader Trafigura Beheer BV, raised $275 million for its Private Equity Resource Fund to invest in metals and mining companies.

Harbert Outperforming Falcone With 11% Return Suffers Asset Drop

Raymond Harbert, chief executive officer of Birmingham, Alabama-based Harbert Corporation, had a radical proposal for his father. It was 1992, and the company that had made his dad, John M. Harbert III, a billionaire was eking out small profits and was $300 million in debt. Raymond proposed selling the core construction business, which dated back to the company’s 1946 founding. The elder Harbert threw his son out of his office, an associate recalls.

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Boeing 787 Gets Image Boost as United Resumes Flights

Yen Jumps Most in Three Weeks on Government Concern; Rand Slides

Microsoft Updates Xbox as Apple to Facebook Gain in Games

U.S. Stocks Fluctuate as Investors Weigh Stimulus Timing

Paulson to Maverick Bet on Housing With Junk Insurers