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Blackstone charged by SEC for failure to disclosure adviser benefits

Sec Building

The Securities and Exchange Commission has announced that three private equity fund advisers within The Blackstone Group have agreed to pay nearly $39m to settle charges that they failed to fully inform investors about benefits that the advisers obtained from accelerated monitoring fees and discounts on legal fees.

China fears spook would-be investors in IPOs


Potential investors in companies hoping to raise funds on European markets through stock market flotations have been “spooked” by fears over slowing growth in China, according to PwC, one of the largest professional services firms in the world.



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Jefferies to make further changes to investment banking

Jefferies Group is making more changes to the investment-banking division that manages relationships with private equity firms, according to people familiar with the matter, following the departure of the group’s global head, Adam Sokoloff, in March.

Hedge Fund

Hedge fund to shut down several funds

Jacob Gottlieb’s Visium Asset Management, the once high-flying hedge fund firm that at its peak managed $8bn, is shutting down four of its remaining hedge funds after one of its star managers was arrested and accused of insider trading.