Mutual funds managed by the biggest names in Wall Street like BlackRock, Brevan Howard and T. Rowe Price, are showing poor performance with the decline in the emerging markets, an analysis from Reuters said.
Exits
Philippines' Aboitiz Group completes exit from shipping business
Aboitiz Group, a conglomerate based in the Philippines, has exited completely from the shipping business by selling the interests it held in joint ventures with Norway-based Jebsen Group.
KKR & Co liquidates two funds focused on individual investors
Private equity giant KKR will be withdrawing two funds targeted for individual investors, a move that is seen as a blow to its efforts to grow its product offerings beyond institutional investors, Reuters reported.
French firm Accor plans on selling its full stake in Mumbai BKC hotel
Paris, France-based hospitality major Accor is aiming to exit its 40% stake in Mumbai, India-based Sofitel hotel in Bandra-Kurla Complex (BKC) and fold the Sofitel brand into itself, according to sources.
Nestle looking at options to reduce L'Oreal stake: Bloomberg
Nestle, the world's biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L'Oreal, Bloomberg reported on Saturday, citing sources with knowledge of the matter.
Latest News
MPC Synergy Real Estate, a private equity firm that formed a joint venture with Akme Projects, will be exiting its investments in the India- based firm, according to sources interviewed by The Economic Times.
Sony Corp is discussing with buyout firm Japan Industrial Partners for a potential sale of its loss-making Vaio personal computer business, a source interviewed by Reuters said.
India's Public Sector Undertaking (PSU) banks initiated a process to offload their shares in credit ratings agency CARE Ratings, according to sources knowledgeable on the situation.
Activist investor Daniel Loeb's Third Point Llc can no longer count on Rhode Island as one of its clients after the state's Investment Commission voted to pull out its investment in the hedge fund, Reuters reported.
According to Reuters, Lone Star is itching to exit from German bank IKB as European Central Bank and the European Banking Authority will begin to run mandatory health tests in banks this year.
Andrew Horsman, the principal of Canada-based green technology firm CleanTech Capital Inc resigned and is exiting his stake after the investment was reported by the Star, to avoid conflict of interest with his position as the head of the tire recycling programs in Ontario.
Northern England, US-based milk processor Oakhurst Dairy was sold to Kansas City, Missouri-based dairy farmer-owned cooperative Dairy Farmers of America (DFA) for an undisclosed sum because of the absence of a suitable person to run he business.
A regulatory filing with the US Securities and Exchange Commission showed that William Ackman's Pershing Square Capital Management offloaded 7.3 million shares of liquor maker Beam Inc this week, Reuters reported.
Private equity group 3i said it was able to close exits worth £29 million or $48 million in the final quarter of last year, bringing its overall proceeds for the year to £557 million, Reuters reported.
