Source: AltAssetsUS financial services conglomerate Citigroup is plotting to raise over $3bn for its private equity and hedge funds, according to Bloomberg.In spite of looming US regulations that may prohibit banks from dealing in alternative investment asset classes, Citi may seek to raise $1.5bn for private equity and $750m for hedge funds this year.
Posts Tagged ‘Six Years’
Citi to raise $3bn for PE and hedge units
June 18th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: 750m, Alternative Investment, Alternative Investments, Asset Classes, Breathing Space, Capital Advisors, Citigroup, Commodities, Conglomerate, Hedge Fund Of Funds, Hedge Funds, Investment Asset, Management Teams, Private Equity, Regulators, Senate Bills, Six Years, Spite, Stocks Bonds, Wall Street 
Comments OffDiners Club International sees makeover with new parent Discover Financial
December 15th, 2009 Before You Invest (AP) — Diners Club International said Monday it’s changing its logo, card, Web site and advertisements to reflect its new ownership under Learn Financial Services Inc.The new ads focus on everyday card use rather than travel and entertainment. This marks the company’s first major rebranding in more than six years.The company launched new ads this quarter in Austria, Brazil, Denmark, Finland, South Africa and Sweden.
Posted in Finance Fraud Tags: Advertisements, April, Assets, Bmo, Brazil, Card Web, Citigroup, Denmark Finland, Diners Club International, Discover Financial Services, Financial Group, Financial Services Inc, Franchise, International Portion, New Focus, Rebranding, Shares, Six Years, South Africa, Sweden No Comments »Assets under management have dropped substantially worldwide
September 16th, 2009 Before You Invest A study has found that wealth has dropped 11.7 percent to $92.4 trillion over the period of the financial crisis.The study by a Boston consulting group found wealth would not return to 2007 levels for another six years.The United States, was the toughest hit region, primarily due to the decline in US equity investments in 2008.Also hit hard were off-shore wealth centres, where many companies and individuals had gone to avoid tax.In Switzerland and the Caribbean, assets declined to $6.7 trillion in 2008 from $7.3 trillion in 2007.Millionaires who made risky investments during the economic boom were especially hard hit, with the number of millionaires worldwide shrinking 17.8 percent to 9 million.
Former Morgan Stanley employee admits $2.5m theft
July 14th, 2009 Before You Invest A former vice president of Morgan Stanley is to plead guilty to charges of stealing $2.5 million from the company.According to Bloomberg, defense attorney Larry Ferdella stated Richard Garaventa Jr has submitted a letter accepting responsibility for the theft.He is said to have written 50 checks to a company he set up between 2001 and 2008 in order to accrue the money, which he then spent on jewelry, cars and traveling.The prosecution has recommended a prison sentence of between two and six years and Acting State Supreme Court Justice Gregory Carro said that Mr Garaventa’s $500,000 property may be repossessed, stating: “The defendant was living a lifestyle he couldn’t afford. He should no longer live that lifestyle and that includes that house.”Mr Garaventa is expected to return to court on July 21st and could also be ordered to pay restitution of $250,000.
cashed in and got out before Bernard Madoff’s $50 billion investment empire came crashing down might not be as lucky as they think.
January 9th, 2009 Before You Invest cashed in and got out before Bernard Madoff’s $50 billion investment empire came crashing down might not be as lucky as they reckon. Sources close to the Madoff case say that a recent court ruling in a similar collapse—a Ponzi scheme called the Bayou Group—is likely to provide the legal road map for recovering as much money as possible from the Madoff mess.
Posted in Finance Fraud Tags: Adlai, Bernard Madoff, Collapse, Disclosures, Federal Bankruptcy Court, Financial Wizard, Gates, Innocent Victims, Jurisdiction, Legal Experts, Litigation, Manhattan, Mastermind, Ponzi Scheme, Profits, Road Map, Sifting Through, Six Years, Swindle, Wreckage No Comments »
