Legg Mason Opportunity Trust Manager Bill Miller said he bought JC Penney debt for a new fund. Miller holds the record of beating the US benchmark for 15 years.
Deals
Arpex Capital gives USD 200,000 in seed funding to Backdoor
Backdoor, the anonymous messaging app, founded by technology prodigy Daniel Singer, was able to gather USD 200,000 in seed funding from Brazil-based investment company Arpex Capital.
BofA nearing settlement with Freddie Mac
A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.
Allete buys 3 US wind farms for USD27 million
Allete Clean Energy, a subsidiary of US power company Allete, recently announced its acquisition of three wind farms located in Minnesota, Iowa, and Oregon, for USD27 million.
Telecom Italia to gain EUR4 billion from Telecom Argentina exit
Telecom Italia, the largest telecommunications company in Italy, will be selling its controlling stake in Buenos Aires-based Telecom Argentina to investment firm Fintech for EUR4 billion.
Latest News
London-based Armajaro Holdings Ltd sold its coffee, cocoa, and sugar trading arm to Swiss agricultural trader Ecom Agroindustrial Corp Ltd after reporting a loss of USD7.5 million.
Many analysts say the lack of transparency may put the free trade zone experiment in China in jeopardy, unless it is confirmed as one of the economic priorities of the Third Plenum of the Chinese Communist Party.
According to sources interviewed by Bloomberg, New York-based private equity firm Forstmann Little & Co had shortened its list of potential bidders for IMG Worldwide Inc, its talent agency, to five.
Boston-based email productivity startup Yesware made its first acquisition by buying troubled San-Francisco based email file sharing startup Attachments.me, which would also be shutting down today.
A new CEO was recently installed for billionaire Eike Batista's OSX as it prepares itself for bankruptcy and other legal processes, according to its lawyers.
Atomico Ventures was able to raise USD 476.6 million for its third fund, based on an filing submitted to the US Securities and Exchange Commission on October 25.
Singapore-based Bitcoin exchange startup itBit secured USD3.25 million in a new funding round to be used for the launching of its Bitcoin exchange currency and the expansion of its operations worldwide.
Czech startup Futurelytics Inc closed its seed financing with USD 800,000 in a round led by Index Ventures and Credo Ventures. Futurelytics was the first Czech company to win initial funding from Seedcamp.
Accredited investors from The Williams Financial Group participated in the Series C round for Dallas-based Cleantech IT innovations firm Servergy Inc which closed with USD 20 million.
