- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Five Oaks Investment sees IPO of $85.5 million
(Reuters) - Five Oaks Investment Corp, an investor in mortgage-backed securities, said it expects to sell 5.7 million shares for $15 per share, raising $85.5 million in an initial public offering of its common stock.
The Maryland-based company added UBS, Mitsubishi UFJ Securities, Aegis Capital Corp and National Securities to its list of underwriters. (r.reuters.com/jun66t)
The company plans to list its common stock on the New York Stock Exchange under the symbol "OAKS". The company had earlier planned to list under the symbol "FOIC".
The company which filed for an IPO in December 2012, plans to use the proceeds from the IPO to buy residential mortgage-backed securities.
Barclays, Credit Suisse and UBS are lead underwriters to the offering.
(Reporting By Neha Dimri in Bangalore; Editing by Supriya Kurane)
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