Entries tagged "leverage"
Prime brokers, having retrenched following the collapse of Lehman Brothers, are now vying for business from blue-chip hedge funds.
Speaking at Jordan Edmiston Group Inc.'s Growth Conference at the Four Seasons hotel in New York on Thursday, Jeffrey Stevenson, managing partner and co-chief executive officer of media buyout firm Veronis Suhler Stevenson, said, "Three is the new six." Stevenson was referring to the leverage multiples on private equity buyouts, as already-taut credit markets cinched even tighter in recent months. ...
We're suddenly getting a lot of talk about deleveraging Wall Street -- even, as Jones Day's Robert Profusek told Deal Journal Tuesday -- taking the "L" out of LBO. That's a nifty line that prompts a few skeptical thoughts. Given how confused we seem to be, predicting the long-term future is a pretty risky thing to do. It's true, the run on Bear Stearns Cos. was destabilizing and paradigm-busting, if that means anything. Wall Street has had an entire year to contemplate deficiencies of its business model and the possibility of cosmic retribution for past sins. And the Federal Reserve...
