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Press Releases

Federal Reserve streamlines aspect of Volcker Rule compliance

WASHINGTON, July 24- The Federal Reserve announced Monday that it was streamlining part of its Volcker Rule compliance regulations, providing guidelines to banks seeking more time to start up and spin off new hedge funds and private equity funds. The Federal Reserve Board published new guidelines on Monday detailing how banks could apply for an extension for...

Source: Reuters

UPDATE 3-KKR to buy WebMD in $2.8 bln deal

July 24- Private equity firm KKR& Co has agreed to buy WebMD Health Corp in a deal valued at about $2.8 billion, bringing a slew of popular online health information websites under one umbrella. The deal comes five months after New York- based WebMD said it would explore strategic options amid a slowdown in advertising paid for by pharmaceutical companies.

Source: Reuters

Hong Kong rejects IPO application of Morgan Stanley-backed insurance broker

HONG KONG, July 24- The Hong Kong stock exchange has rejected the IPO application of AMTD Strategic Capital Group, a corporate insurance broker backed by Morgan Stanley's private equity arm. The Hong Kong company, controlled by AMTD Asia, filed in May for the IPO, which Thomson Reuters publication IFR said could total $200 million. AMTD Strategic Capital is 79...

Source: Reuters

BMO Capital's Brian Belski: Companies are actually in good shape

Brian Belski, BMO Capital Markets chief investment strategist, and Jack Caffrey, JPMorgan Private Bank equity portfolio manager, discuss the state of the markets as we enter the busiest week for earnings.


UPDATE 2-Rebuffed Elliott wants urgent Akzo response on new CEO

LONDON/ AMSTERDAM, July 24- Hedge fund firm Elliott Management on Monday asked the board of Dutch paintmaker Akzo Nobel to respond urgently to its concerns about the nomination of a new chief executive. Paul Singer's activist fund called on Akzo to confirm the date of a shareholder meeting to vote on the appointment of Thierry Vanlancker as the new CEO and to...

Source: Reuters

COLUMN-Hedge funds close bearish positions in crude and gasoline: Kemp

LONDON, July 24- Hedge fund managers have continued to cover short positions in crude oil and gasoline, helping lift prices across the petroleum complex against a backdrop of improving fundamentals. Hedge funds and other money managers reduced short positions in the five major petroleum futures and options contracts by a further 44 million barrels in the...

Source: Reuters

UPDATE 1-KKR to buy WebMD in $2.8 bln deal

July 24- Online health publisher WebMD Health Corp said on Monday it agreed to be bought by private equity firm KKR& Co in a deal valued at about $2.8 billion. The deal brings together WebMD's websites, such as, and, and those owned by KKR unit Internet Brands Inc, including and

Source: Reuters

Louis Dreyfus sells African fertilizer business to Helios

*Louis Dreyfus planning series of divestments. PARIS, July 24- Louis Dreyfus Company has agreed to sell its African fertilizer business to Helios Investment Partners, sealing the first of a series of divestments planned by Louis Dreyfus as it responds to a tough cycle for agricultural commodity traders. Helios, a private equity firm, is to acquire 100 percent of...

Source: Reuters

KKR to buy WebMD in $2.8 bln deal

July 24- Online health publisher WebMD Health Corp said on Monday it agreed to be bought by private equity firm KKR& Co in a deal valued at about $2.8 billion. KKR will pay $66.50 per share, a premium of 20.5 percent to WebMD's Friday closing. Reuters reported on Sunday that KKR was nearing a deal to buy WebMD.

Source: Reuters

RPT-INSIGHT-Direct lending funds' fading all-weather appeal

NEW YORK, July 24- Miami- area money manager Bob Press appears to offer the ultimate all-weather investment: a "direct lending" hedge fund that does not require a long-term commitment and has produced nearly 90 straight months of positive returns not correlated to other markets. Most funds invest in traditional financial assets like stocks or bonds, but direct...

Source: Reuters