A boom in Chinese internet stocks helped propel San Francisco-based hedge fund to double digit gains this year when other hedge funds have given dull returns, according to a Reuters report.
Finance/Venture
Carlyle Group's Brazilian travel agency prices shares below range in IPO
Private equity-backed CVC Brasil Operadora e Agencia de Viagens priced its shares at BRL 16 apiece for its IPO today, below its indicated price range of BRL 18 to BRL 22.
Bitcoin extends reach to average consumers with mobile apps
The market in mobile payment or transaction apps using Bitcoin as a payment option is being fueled by a growing interest in average consumers who view payments via their smartphones as an easy way to settle their dues.
Dwolla enters partnership with Fiverr to increase adoption of its payment option
To jumpstart the use of its payment processing system, Dwolla has partnered with online service marketplace Fiverr and also offers special promotions to US-based customers.
Venture capital firm Northzone announces new EUR200 million fund for Nordic startups
Venture capital firm Northzone had set up its biggest fund yet at EUR200 million or USD272 million. The fund will be geared towards making investments in startups within the Nordic region and businesses who had partnered with a Nordic-influenced startup.
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China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
LeapFrog Investments exited from Express Life, a Ghanaian insurer, by selling a majority stake it held in the firm to Prudential Plc for an undisclosed amount.
Private equity firm KKR agrees to a restructuring deal for Germany-based car repair chain Auto-Teil Unger or ATU through a debt-for-equity swap with the latter's main creditors.
UK-based independent private equity firm Vitruvian Partners closed USD1.6 billion (EUR1.2 billion) in a fundraising round for its second fund, the Vitruvian Investment Partnership II (VIP II).
BNP Paribas, the largest bank in France, said it will be buying Bank Gospodarki Zywnosciowej, the Polish arm of Dutch bank Rabobank Groep, for EUR 1 billion.
Investors including the Bucks County Water & Sewer Authority in Pennsylvania, the city of Baltimore and the Central Bucks School District agreed to settle the municipal bond-rigging case it filed against Bank of America Corp.
Swiss bank UBS Ag said Ulrich Koerner will be replacing John Fraser as Head of Global Asset Management. Fraser is set to retire by the end of month.
Despite the rally posted by Sears Holding Corp on the stock exchange this year, which made it one of the best performers of the US listed stocks held by hedge fund ESL Partners, a Bloomberg report said some of the investors of hedge fund were not happy about it at all.
India-based mobile operator Bharti Airtel has raised EUR750 million in a bond issue that received bids worth EUR3.8 billion. The bond issue aimed to refinance the company's existing debt.
