Hints and tips:
...The New York-based hedge fund manager, run by Karim Samii, now plans to launch a new fund, PCM, which will invest up to 30 per cent of its capital in activist positions in Europe....
...PCM’s acquisition of Nexteer, for an estimated $450m, is the latest in a series of deals involving Chinese companies and the Detroit car industry....
...Moelis & Co advised PCM on the deal, which involved eight months of negotiations....
...In a statement late on Wednesday, GM said it would sell the business, known as Nexteer Automotive, to PCM, an entity formed by the Tempo Group and E-Town, an affiliate of Beijing’s municipal government....
...He has a relish for technical details: “Using PCM, the CD system takes a sample every 1/44,100th of a second and expresses the sample as a 16-bit number”. But Milner’s outlook is essentially romantic....
...Its money market funds had exposure to subprime loans; star manager Bill Miller had a collapse in performance and PCM has shrunk in size to about $3bn, from a high of $8bn when Legg bought it in 2001....
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