New Jersey Assembly Advances “Mass Violence Care Fund” Bill
TRENTON, NJ – The New Jersey Assembly Appropriations Committee has reported favorably on Assembly Bill No. 4409, with significant amendments. The bill, dated June 24, 2024, proposes the creation of the “Mass…
ARK Innovation Fund drops nearly 9% during market selloff
NEW YORK – Star stock picker Cathie Wood’s ARK Innovation fund dropped nearly 9% on Thursday as concerns about rising inflation and slowing growth sent the benchmark S&P 500 down nearly 3.6%.…
Allianz CEO wants to resolve fund debacle soon
FRANKFURT – Allianz wants to resolve investigations into its Structured Alpha investment funds soon, Chief Executive Oliver Baete told shareholders on Wednesday. The demise of the funds has been under investigation by…
Norway wealth fund unable to sell Russian stocks now, CEO says
OSLO – Norway’s sovereign wealth fund is currently unable to sell its portfolio of Russian stocks as the market for such assets is not functioning and many firms are on global sanctions…
Hedge fund Citadel posts gains in April as markets fell
By Svea Herbst-Bayliss BOSTON – Hedge fund Citadel avoided April’s stock market drop and posted gains in its most prominent strategies, easily besting the average hedge fund returns which were in the…
U.S. pension fund sues Credit Suisse board over losses in Archegos collapse
By Jody Godoy (Reuters) – A Rhode Island pension fund has sued Credit Suisse Group AG former Chairman Urs Rohner and 19 other directors and executives, alleging their failure to manage risk…
Founders Of Fake “Hedge Fund” Plead Guilty To Federal Charges For Orchestrating A $4 Million Ponzi Scheme
CHARLOTTE, N.C. – The founders of a fake “hedge fund” appeared in court today and pleaded guilty to federal charges for orchestrating a $4 million Ponzi scheme, announced Dena J. King, U.S.…
Russia to cover budget deficit with rainy-day fund in 2022, Finance Minister says
(Reuters) – Russia’s National Wealth Fund (NWF), a rainy-day cushion containing oil revenues, will be the main source of financing for a budget deficit seen at 1.6 trillion roubles ($21.6 billion) or…
TPG raises $7.3 billion for climate fund in sustainability push
(Reuters) – TPG Inc said on Wednesday it had raised $7.3 billion for its climate fund, as the private equity giant expands its investments in the clean energy space. The fund, called…
Suburban Propane and Historic Tours of America Join Forces to Fund Father Joe’s Villages Therapeutic Childcare Program
On April 25th, representatives from Suburban Propane, Historic Tours of America and Father Joe’s Villages held a donation presentation event at Shelter Island in the Port of San Diego. This donation is…
KKR raises $19 billion for flagship North America private equity fund
By Chibuike Oguh (Reuters) – Buyout firm KKR & Co Inc said on Monday it has raised $19 billion from investors for its latest flagship North America private equity fund, its biggest…
Russia may spend $1.3 billion from wealth fund to recapitalise Aeroflot – Ifax
(Reuters) – Russia is considering spending around 107 billion roubles ($1.34 billion) from its National Wealth Fund (NWF) to recapitalise flagship airline Aeroflot, the Interfax news agency reported on Wednesday, citing an…
Fund Manager Reade Griffith buys stake in Mediaset Espana amid takeover
MADRID – Fund manager Reade Griffith bought a minority stake in Spanish broadcaster Mediaset Espana after its parent company MediaForEurope launched a public takeover offer, a filing to the Spanish stock regulator…
UBS names new manager for embattled Asia fund
By Xie Yu HONG KONG – UBS Group AG has appointed a new manager to oversee a $2 billion Asian high yield fund, the Swiss bank said in a statement, after a…
Indonesia’s wealth fund signs $2.7 billion toll road investment
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA – Indonesia’s sovereign wealth fund on Thursday signed two agreements to invest in toll roads on the islands of Sumatra and Java worth more than…
IMF sets up administered account to allow donors to fund Ukraine
WASHINGTON – Ukraine’s finance ministry on Monday welcomed the creation of a special new account set up by the International Monetary Fund to give bilateral donors and international organizations a secure way…
Colorado CEO and Fund Manager Admits to $11 Million Securities Fraud Scheme
NEWARK, N.J. – A Denver, Colorado, CEO today admitted conducting a securities scheme to fraudulently obtain $11 million from investors through various misrepresentations about fund operations, his background, and his contribution to…
Kinecta Joins the Worldwide Foundation for Credit Unions’ Ukrainian Credit Union Displacement Fund Campaign and Commits up to $50,000
For every $1 Donated, Kinecta will Match $2 up to $50,000. Donations to Address Immediate Humanitarian Needs MANHATTAN BEACH, Calif., April 5, 2022 — Kinecta Federal Credit Union joins the Worldwide Foundation…
Calabasas Man Allegedly Scammed Investors out of at Least $28 Million They Thought Would Fund Cannabis Vaping Businesses
LOS ANGELES – A former UCLA decathlete who also competed with the Philippines national team was arrested this morning on a federal criminal complaint alleging that he fraudulently raised more than…
Argentina wants China to fully fund $8.3 billion nuclear plant amid cash shortfall
By Eliana Raszewski LIMA, Argentina – Argentina is pushing China to fully finance a new $8.3 billion nuclear power plant in the country, as the government grapples with high debt levels and…
Spain’s banking bailout fund FROB surpasses 50% stake in bad bank Sareb
MADRID – Spain’s state rescue fund FROB has increased its stake in the country’s “bad bank” Sareb to more than 50%, in line with a European Union order to count its liabilities…
Former School Principal Pleads Guilty to Embezzling $175,000 from Fund for Student Activities and Services
WASHINGTON – A former school principal pleaded guilty today to stealing at least $175,000 from an association that raises funds from parent contributions and fundraisers to…
Carrefour launches fund to invest in digital retail startups
PARIS – Carrefour, Europe’s largest food retailer, is joining forces with venture capital firm Daphni to invest in digital retail startups as part of a global plan to step up e-commerce expansion…
Exclusive-Ukraine mulls international bonds to fund war defence effort
By Karin Strohecker and Jorgelina do Rosario LONDON – Ukraine, hoping to tap fresh sources of money to fund its defence efforts, is looking at ways to extend a domestic bond issuance…
Steven Mnuchin’s fund buys major stake in security startup Zimperium for $525 million
By Krystal Hu (Reuters) – Liberty Strategic Capital, a Washington D.C.-based private equity fund founded by former U.S. Treasury Secretary Steven Mnuchin, has acquired a controlling stake in enterprise security firm Zimperium…
Fidelity closes Emerging EMEA fund to new investors after Russia plunge
LONDON – Fidelity International will temporarily close its Emerging Europe, Middle East and Africa Fund to new investors after Russia’s invasion of Ukraine caused Russian asset prices to plunge, it said on…
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