IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details
Prime broker veteran to take reins at hedge fund trade body November 12, 2013 EUROPE’S leading hedge fund trade body yesterday named one of investment banking’s top prime brokerage veterans as head of the organisation. The Alternative Investment Management Association, which represents 1,300 hedge funds and investment firms, said former Barclays and Morgan Stanley man Jack Inglis would be made chief executive in the new year. Inglis takes the [...]
KKR snaps up US landscaper Brickman Group in £1bn deal November 12, 2013 US PRIVATE equity titan KKR yesterday won the race to buy US landscaper The Brickman Group in a deal worth $1.6bn (£1bn). The firm, managed by Wall Street raider Henry Kravis and his cousin George Roberts, beat off a host of rivals – thought to include Blackstone, TPG Capital and UK private equity stalwarts CVC [...]
3i inks Barclays deal November 12, 2013 The UK’s oldest private equity fund 3i yesterday said it had finally completed a deal to buy Barclays infrastructure arm. Barclays Infrastructure Funds Management, which includes 22 staff, will be renamed 3i BIFM and merged into 3i’s existing infrastructure offering. The deal was originally announced in May. The Barclays arm currently has assets under management [...]
Caravan park operator sold by private equity owners for £170m November 12, 2013 THE SOUTH east’s largest operator of caravan parks, Park Holidays, was sold by its private equity backers yesterday to London-listed fund Caledonia Investments. Graphite Capital, which owns London’s Hawksmoor restaurant chain, sold the company for £172m, after overseeing it for seven years following a purchase in 2006. The deal is notable because Caledonia’s buy is [...]
Bank capital rules are holding back a credit binge – but also our recovery November 11, 2013 THE RECENT run of better-than-expected economic data and the government’s Help to Buy scheme have sparked talk of a return to credit-fuelled boom and bust. Some have joined renowned monetary policy hawk Andrew Sentance, a former member of the Bank of England’s Monetary Policy Committee, in calling for interest rates to rise sooner rather than [...]
What the other papers say this morning – 11 November 2013 November 11, 2013 FINANCIAL TIMES Fears over abuses in metals markets Britain’s parliamentary financial watchdog has urged regulators to probe potential abuses in metals markets as deeply as they are investigating the scandals over foreign exchange and Libor benchmark interest rates. Andrew Tyrie, chairman of the Treasury select committee, told the Financial Times that MPs were conscious of [...]
Exports to miss Osborne’s 2020 £1 trillion target November 11, 2013 BRITISH businesses need to double the rate of export growth if they are to hit the government’s targets for rebalancing the economy over the rest of this decade, according to a report out today from think tank Reform. Exports in 2013 are expected to come in at just above £500bn – well below the £1 [...]
London Report: Carney likely to bear good news about inflation November 10, 2013 GOVERNOR of the Bank of England Mark Carney is likely to be the bearer of good news when he presents his inflation report on Wednesday, with the growth rate heading up and the unemployment rate coming down. Carney pledged in August not to raise rates until unemployment fell to at least seven per cent, a [...]
Barclays and Deutsche Bank lose bid to keep Libor claims out of court November 8, 2013 Deutsche Bank and Barclays have failed to prevent allegations of interest rate manipulation from being included in two ongoing lawsuits. The decision, made by the UK Court of Appeal today, means that the banks could lose millions of pounds. It could also become a test case – with other litigation over the fixing of the [...]
What the other papers say this morning – 08 November 2013 November 7, 2013 FINANCIAL TIMES Currencies probe shifts to the US A global probe into alleged manipulation of the multibillion-dollar currencies market has widened its focus to include the US, with Barclays putting three New York-based traders on leave. They included foreign exchange spot traders Russell Katz and Jerry Urwin, two of these people said. Mr Katz and [...]