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...Troost had long claimed he had no management role in Paramount DMCC and that, as a separate legal entity incorporated in the UAE, its activities were not subject to western restrictions....
...“Credit Suisse Asset Management has continued to work tirelessly on the recovery of cash for investors in the supply chain finance funds,” Credit Suisse said....
...The classic principal and agent relationship — where an investor outsources management of their assets to an outside party — is rife with potential conflicts of interest....
...Blackstone president Jonathan Gray told the Financial Times last May the world’s largest private capital group — which has $1tn of assets under management — could become a “valuable partner” to banks looking...
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...Management....
...Kingswood’s founder, Alexander Wolf, cut his teeth at Cerberus Capital Management (named for the three-headed dog guarding the gates of hell) and Ares Management (Greek god of war), two firms not afraid...
...Apollo told him: “Apollo’s accounts receivable department never knowingly, or as a matter of practice, improperly billed any Apollo-managed funds for expenses that should have been accounted for as management...
...But good asset allocation practice is to avoid any “home bias” of investing too much in UK shares....
...Nor did it file in Delaware, where most of its entities are incorporated....
...The Texas Retirement System incorporated leverage within its individual asset allocations in 2019 to improve the “risk return profile” of the fund....
...Troost had long claimed that he was not involved in establishing Paramount DMCC, that he had no management role in the business and that, as a separate legal entity incorporated in the UAE, its activities...
...We’ve talked about TRAs before, most notably in the buyout of Sculptor Asset Management last year....
...A decade later, even Gene Fama, the father of the efficient markets hypothesis, grudgingly incorporated it into his models....
...So there must be an asset to match. In our case that asset is definitely not going to be cash. What we get instead is more and more payments receivable from our customers....
...Jay Newman was a senior portfolio manager at Elliott Management and is the author of Undermoney....
...They would affect “already established private arrangements with the risk of destabilising the management and recovery system of such receivables, which in most cases is entrusted to [servicing companies...
...Moreover, the intercompany receivable is pledged as security for the $200 million senior secured notes . . ....
...It’s actually incorporated already in the Save Mart balance sheet in this one equity line....
...There were a handful of companies that properly incorporated climate goals into bonuses, Galvanize said, citing French multinational Schneider Electric, for example, as a leader on this front....
...On Monday, PacWest Bancorp announced it had sold a $2.3bn portfolio of loans to Ares Management for around 90 cents on the dollar in cash, part-financed by Barclays....
...The civil suit is spearheaded by the investor Timothy Horlick who oversaw the Guernsey partnership, Frontiers Capital, which in 2002 invested £7.5mn in a UK document management business chaired by Flohr...
...The OSC ruled this could not be counted as a current asset on its balance sheet because it is unable to realise this asset within 12 months as it is dependent upon the ability of Emerge US to pay the receivable...
...Rithm will also separately assume $173mn that Sculptor will be obliged to pay Och and other fund founders over several years under what is known as a tax receivable agreement....
...One of the sellers of the trade and assets acquired by Hanover is the managing director of Hanover....
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