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 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 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.
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.
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.
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.
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.