Articles by Svea Herbst-Bayliss and Lawrence Delevingne

Sectors Under Pressure, Such as Insurance, Remain Private Equity Targets: Apollo Exec

Private equity billionaire Joshua Harris thinks there are still plenty of undervalued companies to improve and profit from, especially away from the public markets. “Certainly, this is not a value-oriented environment,” said Harris, senior managing director of Apollo Global Management, …

Activist Hedge Fund Voce Urges Argo to Cut $100M in Expenses, Nominates Directors

An activist hedge fund on Tuesday nominated five directors and urged insurance company Argo Group International Holdings Ltd to cut $100 million in expenses, including corporate jets and housing for its chief executive. Voce Capital Management LLC wants Argo shareholders …

Activist Icahn Breaks Up with AIG, Sells Shares

Billionaire investor Carl Icahn has sold his stake in American International Group Inc, ending a more than two-year association with one of the largest U.S. property and casualty insurers, according to a person familiar with the matter. The activist investor …

Activist Investor Icahn on High-Yield Bonds, AIG, Interest Rates

Billionaire activist investor Carl Icahn said he is betting against high-yield bonds, as he sees a bubble among companies that have overborrowed recently, and expects the dollar to keep rallying into next year. Icahn, speaking at the Reuters Global Investment …

New York Bans Fund Manager Falcone From Insurance Unit

Hedge fund manager Philip Falcone, banned from the securities industry for five years by U.S. regulators, is also being banned for seven years from decision-making roles at Fidelity & Guaranty Life Insurance, a unit of his firm, New York officials …

Boston Marathon Bombings Suspect Identified: Reports

Investigators believe they have identified a suspect in the Boston Marathon bombing from security video and an official statement was expected later in the day, a U.S. law enforcement source said on Wednesday. However, no arrest had been made, three …

Paulson Hedge Fund Cuts Holdings in Hartford Financial Services

Billionaire hedge fund manager John Paulson cut his third and fourth biggest portfolio holdings and made a bigger bet on a gold mining firm, according to a regulatory filing released on Thursday. New York-based hedge fund Paulson & Co. cut …

Largest Shareholder Presses The Hartford to Decide Soon on Split-Up

Hedge fund manager John Paulson said Hartford Financial Services Group Inc. could boost its share price by 62 percent if it listened to his advice to break up the insurance provider as early as April. The billionaire, whose Paulson & …

Hedge Fund Guru Cohen to Set up Reinsurance Business

Steven A. Cohen, who built one of the world’s biggest and most successful hedge funds, is branching out and plans to set up his own reinsurance firm, two people familiar with the matter said. Cohen, who runs $14 billion SAC …

Buffett Picks Another Successor

Warren Buffett advanced his succession plan Monday by naming Ted Weschler, a low-profile hedge fund manager who has produced out-sized returns in the last decade, to help manage the investments of Berkshire Hathaway Inc. Weschler, 50, will start at the …