Firms and Funds

NEW YORK (Reuters) – The plan to sell Lehman Brothers Holdings Inc’s investment-management unit has been delayed due to wrangling over how to run the business and pay fund managers, Bloomberg reported on Wednesday, citing people familiar with the talks. A Lehman spokesman was not immediately available for comment. Lehman, now bankrupt, wanted to announce […]

NEW YORK (Reuters) – Fortress Investment Group LLC (FIG.N: Quote, Profile, Research, Stock Buzz), one of the few publicly traded U.S. alternative asset managers, said on Thursday it will not pay a third-quarter dividend, citing a need to preserve capital. The New York-based manager of private equity and hedge funds joins other financial companies to […]

HONG KONG (Reuters) – Quadrangle Group LLC, a private equity and investment firm specializing in the media and communications sector, said on Thursday it had opened a Hong Kong office to help it do more business in Asia. Quadrangle, which has more than $6 billion of assets under management, said the Hong Kong office will […]

By Myles Neligan LONDON (Reuters) – British private equity group 3i Group Plc (III.L: Quote, Profile, Research, Stock Buzz) reduced new investments by nearly 40 percent in the first five months of its financial year in response to tougher credit and equity market conditions. In a statement on Thursday, 3i said it invested a total […]

NEW YORK (Reuters) – Merger talks between Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) and regional bank Wachovia Corp (WB.N: Quote, Profile, Research, Stock Buzz) have ended as Morgan focuses on a partnership with Japan’s Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research, Stock Buzz), sources familiar with the situation said on Wednesday. Morgan […]

Alpine Investors, a San Francisco-based private equity firm, is marketing its fourth fund, sources familiar with the situation said. The effort has a $175 million target with a $205 million hard cap, a slight jump over Alpine’s last fund. Alpine Investors III closed in March 2007 with $125 million in commitments. The firm is not using a placement agent and expects to hold a first close on November 1, one source said.

Brazos Private Equity Partners has closed its third fund with more than $700 million in capital commitments. The Dallas-based firm focuses on middle-market companies with enterprise values of between $50 million and $400 million.

American Capital Ltd. has opened an office in Hong Kong, which is its first satellite in Asia. The office will be led by David Steinglass, who has been with American Capital for the past eleven years.

WASHINGTON (Reuters) – The FBI is investigating Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz), Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz) and insurer American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz) and their senior executives for potential mortgage fraud, CNN reported […]

HONG KONG (Reuters) – Warren Buffett’s $5 billion investment in Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) brought good news to global markets worried that architects of a $700 billion bailout plan would not be able to convince U.S. lawmakers to move swiftly. Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research, Stock Buzz) also […]