Private equity groups see signs of stabilisation (Fund News)
Three of Europeâ??s biggest listed private equity groups have reported drops in the value of their investment portfolios for the first half of the year, while indicating they may be past the worst of the financial crisis.
James Davis, the chief financial officer at the Stanford Financial Group, on Thursday pleaded guilty to charges that he helped Sir Allen Stanford, the companyâ??s founder, in an alleged $7bn Ponzi scheme.
Citadel seeks to recover $470m it is owed by Lehman (Fund News)
Citadel Investment Group, the Chicago-based hedge fund, is seeking to recover $470.5m it believes it is owed by the failed investment bank Lehman Brothers, according to court documents.
FSA commisions study on EU draft regulation (Fund News)
Britain's Financial Services Authority has commissioned a cost study of a draft European Union law on the regulation of alternative investment managers, according to Reuters.