The sidelines thin out
Posted on October 29, 2009 at 8:51 amGoldman Sachs researchers say investors don’t have as much cash available to pour into the market as many observers assume. That doesn’t bode well for the rally’s endurance.
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New boss for SunTrust’s private wealth units
Posted on October 16, 2009 at 9:48 amThe good people working in SunTrust’s wealth management, sports and entertainment banking, personal asset management and investment services groups have a new boss in the shape of Willem-Jan Hattink. Hattink previously ran the bank’s Central Group private wealth management business.
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Blue Horseshoe loves health care companies
Posted on October 14, 2009 at 12:22 pmBuyout firms prefer defensive sectors:
Almost two thirds of buyout firms are shifting to deals in defensive sectors such as health as they face the threat of losing control of their companies to banks, a survey by accountancy firm Grant Thornton has found.
Private equity firms are struggling with the debt they piled on their portfolio companies at the height of the boom, as a downturn in sales forces many firms into difficult discussions with the banks.
Healthcare and support services companies will be the most attractive to buyout firms as they search for deals that provide steady cash flow, Grant Thornton said on Monday.
“A growing number of private equity executives feel compelled to shift their focus to those sectors that are popular with the institutional investors that need to provide the finance for new acquisitions,” head of private equity, Mo Merali, said in a statement.
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Boots’ broker gets five
Posted on October 9, 2009 at 7:51 amA federal judge has sentenced David Cacchione to five years in prison for his role in the investment fraud led by Preds co-owner William “Boots” Del Biaggio.
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We’re almost ready to put a price tag on the toxic stuff
Posted on October 5, 2009 at 10:38 am
In the long-ago days before TARP, there was talk of PPIP, a plan to use government cash to clear the worst of the bad assets off banks’ books. More than a year later, the pieces are in place for investment firms to pool some newly raised capital with federal money and begin buying mortgage-backed securities.
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NHC director’s firm still slimming down stake
Posted on September 30, 2009 at 7:04 am
The 1818 Fund II run by investment house Brown Brothers Harriman continues to be a seller of National HealthCare Corp. shares – even though one of its principals sits on NHC’s board. The fund, which last week said it had sold about 170,000 NHC shares since the spring, on Monday dumped another $240,000 worth of its stake. NHC (Ticker: NHC) has fallen some 27 percent this year versus an 18 percent gain for the S&P 500.
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Top fund managers not buying local health care names
Posted on September 28, 2009 at 8:07 am
Morningstar takes a closer look at where in the health care universe its top-rated mutual fund managers are putting money to work. There isn’t a Nashville company among the top 10, which is made up mostly of pharmaceutical and device companies.
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Wanted: A new face for a Healthways class action – and the ability to make meetings
Posted on September 25, 2009 at 2:08 am
The class action that took to task disease manager Healthways about its use of company stock in its 401(k) plan has been voluntarily dismissed because the lead plaintiff couldn’t make it to a deposition and had to withdraw from the case. The matter had been in the discovery phase with a trial date scheduled for next April.
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VU investments spared worst of market crash
Posted on at 12:49 am
Vanderbilt investment chief Matthew Wright says his team ended its fiscal year down about 16 percent, some 12 points better than the S&P 500 did in the year ended June 30. Early this year, Wright said the torrid market action of last fall had sucked 16 percent out of Vanderbilt’s endowment, which includes other assets.
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Franklin hunts for private-equity manager
Posted on September 18, 2009 at 11:50 am
The City of Franklin has issued an RFP for an investment manager to handle up to $2 million of its pension plan in a private-equity fund of funds.
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Debating the inflation picture
Posted on September 9, 2009 at 2:06 pm
Longtime Vanderbilt investment manager Bill Spitz is featured in this Bloomberg story on how some college endowment chiefs are planning to handle a possible inflation surge. The chief investment officer at George Washington sees prices rising faster now than in the nightmare 1970s.
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Boots sheds tears, gets years
Posted on September 8, 2009 at 3:57 pm
A federal judge today sentenced Boots Del Biaggio, the Silicon Valley financier and Preds co-owner, to eight years in prison for appropriating millions in bank loans and investment funds.
SEE ALSO: The Post’s coverage of the Boots story as it unfolded.
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Metro pension managers consider hedge funds
Posted on August 26, 2009 at 7:29 am
The team overseeing Metro’s Employee Benefit Trust Fund will decide next month whether to devote up to $170 million of the money they manage to hedge funds. Chief Investment Officer Fadi BouSamra, who has been pushing to diversify the fund’s asset base since taking over two years ago, also has given a Vermont firm more money to manage and will next month launch the search for a new consultant.
SEE ALSO: Venture Nashville’s note on the state committing serious cash to private equity
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Local research shop catches Barron’s eye
Posted on August 24, 2009 at 1:58 pm
New Constructs, a seven-year-old equity research company that prides itself on digging through companies’ nitty gritty accounting details, has landed second on Barron’s semiannual ranking of stock picks from the past year. Here are the full rankings.
Investor coach grows into Murfreesboro
Posted on at 11:19 am
Paul Winkler, who calls himself The Investor Coach, has opened a third area office on Robert Rose Drive behind Stones River Mall in Murfreesboro. Ira Work, pictured at left, is running this outpost, which comes a year after the opening of a Cool Springs office and 11 years after Winkler launched his business in Goodlettsville.
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