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SAN FRANCISCO (HedgeWorld.com) - KKR Financial Holdings LLP, a specialty finance company which manages $16.7 billion, on Monday [Aug. 20] announced that it raised $230.4 million of equity capital through the sale of 16 million common shares to a group of seven institutional investors: Farallon Capital Management LLC, Fir Tree Partners, JGE Capital Management, Marsico Capital Management, Morgan Stanley, Oak Hill Advisors and Sageview Capital LP. KKR Financial Holdings also announced a planned rights offering of 18.75 million shares, which will be open to existing shareholders for ten days starting Aug. 30. The shares will be offered at the Friday [Aug. 17] closing price of $14.40 per share, the same price paid by the above-named institutions for their allocations. The issue will raise a ...
BOSTON (Reuters) - Hedge fund Farallon Capital Management LLC listed bigger stakes in Oracle Corp. and Charles Schwab Corp. in a securities filing on Monday [Aug. 16], as well as a major new stake in Alcon Inc. In Monday's filing Farallon listed as its biggest position the 1.1 million shares it held in U.S. eye care products maker Alcon Inc., worth $157 million. Swiss drug maker Novartis AG is buying Alcon.
Simon Property Group Inc. and Farallon Capital Management LLC made an unsolicited $1.56 billion offer for Mills Corp., outbidding Brookfield Asset Management Inc. Simon, the largest U.S. mall developer, and Farallon, a $26 billion hedge fund, bid $24 a share for Chevy Chase, Maryland-based Mills, the companies said Monday.
NEW HAVEN, Conn. (HedgeWorld.com) - A coalition of students, student organizations and alumni from colleges and universities around the country has launched a campaign seeking greater disclosure of endowment investments in hedge funds. The coalition's first target is Farallon Capital Management LLC, San Francisco, a US$8 billion hedge fund whose investors include some prominent university endowments. In a March 2 letter to Thomas F. Steyer, Farallon's senior managing member, the coalition requested a meeting with Farallon officials in order to "discuss the ethics of Farallon's investment practices.
The company that owns Southridge Mall said Tuesday it will accept a buyout offer from one of the nation's largest owners of retail properties, unless a rival offer is sweetened. Mills Corp. said the $1.56 billion, or $24 per share, offer from Simon Property Group Inc. and Farallon Capital Management LLC is superior to an earlier buyout offer of $1.35 billion, or $21 a share, from Brookfield Asset Management Inc.
Simon Property Group Inc., the former owner of the Bergen Mall, appears likely to return to the Bergen County shopping center marketplace after news Tuesday that Mills Corp. favors its buyout bid. Simon the largest U.S. mall owner, with 280 properties and hedge fund Farallon Capital Management LLC have offered $1.6 billion for Mills' 38 shopping centers, including The Shops at Riverside in Hackensack.
Mills Corp., the local mall developer at the center of a bidding war, said yesterday it plans to pursue a bid from Simon Property Group Inc., the largest mall owner in the country, and Farallon Capital Management LLC, Mills' largest shareholder. The Chevy Chase company deemed Simon's $1.56 billion bid, which comes to $24 cash per share, better than a $1.35 billion offer from Toronto's Brookfield Asset Management Inc. Mills had agreed Jan. 17 to accept Brookfield's deal.
Billionaire Carl Icahn, renowned for pushing company executives to make changes to improve their stock prices, bought 2.4 million shares of Cendant Corp. in the first quarter, according to a regulatory filing. Other hedge funds, including Jana Partners LLC, Pirate Capital LLC and Farallon Capital Management LLC, also bought or added to positions in Cendant in the quarter, according to filings with the U.S. Securities and Exchange Commission. Cendant owns online travel businesses Orbitz and CheapTickets.com and rental car companies Avis and Budget, all of which are headquartered in Parsippany.
Simon Property Group Inc. and Farallon Capital Management LLC said Monday they are offering $24 per share in cash, or more than $1.6 billion, for mega-mall developer Mills Corp., topping a previous $1.35 billion deal from Canadian investor Brookfield Asset Management. In a letter to Mills, Simon Property and Farallon said they will each provide $650 million of equity for the transaction. Funds managed by Farallon currently own about 10.9 percent of Mills outstanding shares, making it the largest reported Mills shareholder.
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