US Mortgage Funds Emerge As Housing Sways
The U.S housing market may still be in the doldrums, but funds that are betting on big gains in mortgage-related investments are a hot ticket this year on Wall Street.
Lazard Profit Drops, Still Beats Street
Lazard Ltd's first-quarter earnings dropped sharply because of higher costs, but the boutique investment bank beat analyst expectations by a wide margin when excluding a previously announced charge related to severance packages.
Hedge Funds Face Make or Break Year: Allstate
Large institutional investors
who have ploughed tens of billions of dollars into hedge funds
may rethink their allocations if the industry performs poorly
yet again this year, one large U.S.-based investor said.
State Street's Q1 Profit Crimped by Expenses
State Street Corp. said Tuesday that first-quarter profit fell 11 percent as compensation and other employee benefits surged at nearly three times the pace of operating revenue growth.
UBS, Goldman Win Formula One IPO
Private equity firm CVC
Capital Partners has hired UBS and Goldman Sachs to lead an
expected $2 billion initial public offering of motor racing
business Formula One in Singapore, sources with direct knowledge
of the matter said on Monday.
Formula 1 IPO Pitch Ends Friday
CVC Capital Partners has set
a Friday deadline for banks hoping to play a role in Formula
One's Singapore IPO, sources told Reuters on Tuesday, in a sign
that the process for the roughly $1.5 billion IPO is formally
under way, with plans for a July listing.
Prominent US Hedge Funds Enjoyed Strong 1st Quarter
A handful of prominent
hedge fund managers reported strong first quarter results after
the industry recorded dismal returns in 2011, but only a few
managed to top the performance of the rallying U.S. stock