Stock market turmoil pushes Norway’s oil fund to loss
COPENHAGEN, Denmark (AP) — Volatility in stock markets last year pushed Norway's sovereign wealth fund, the world's largest of its kind, to report a loss of 485 billion kroner ($56.4 billion) for...
Artisan Partners: 4Q Earnings Snapshot
MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Monday reported fourth-quarter net income of $32.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Milwaukee-based company said it had net income of 57 cents. Earnings, adjusted for non-recurring costs, came to 61 cents per share.
Apartment Investment Management: 4Q Earnings Snapshot
DENVER (AP) _ Apartment Investment and Management Co. (AIV) on Monday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The Denver-based real estate investment trust said it had funds from operations of $96.3 million, or 63 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 64 cents per share.
Voya Financial plans 1,000 new jobs in Phoenix area
PHOENIX (AP) — Retirement, insurance and investment firm Voya Financial says it will open a new office in metro Phoenix and will add more than 1,000 new workers.
The planned office will add to the big 401(k) manager's existing Scottsdale office. About 200 employees in the firm's investment management business are currently based in Scottsdale.
Apartment Investment Management: 3Q Earnings Snapshot
DENVER (AP) _ Apartment Investment and Management Co. (AIV) on Thursday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Denver-based real estate investment trust said it had funds from operations of $99.3 million, or 63 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 61 cents per share.
Artisan Partners: 3Q Earnings Snapshot
MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Tuesday reported third-quarter profit of $42.5 million.
On a per-share basis, the Milwaukee-based company said it had profit of 77 cents. Earnings, adjusted for non-recurring costs, came to 79 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
Apartment Investment Management: 2Q Earnings Snapshot
DENVER (AP) _ Apartment Investment and Management Co. (AIV) on Thursday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.
The Denver-based real estate investment trust said it had funds from operations of $95.7 million, or 61 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 62 cents per share.
Artisan Partners: 2Q Earnings Snapshot
MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Tuesday reported second-quarter profit of $42 million.
The Milwaukee-based company said it had net income of 72 cents per share. Earnings, adjusted for non-recurring costs, were 76 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
Colony NorthStar reports 4Q results
LOS ANGELES (AP) — Colony NorthStar Inc. (CLNS) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate and investment management firm, based in Los Angeles, said it had funds from operations of $95.1 million, or 16 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
Ameriprise Financial Inc.’s fourth-quarter bottom line took a hit as it accounted for the effect of the new tax law, but the company said a lower tax rate will benefit it from now on.
The Minneapolis-based investment management firm on Wednesday reported substantial jumps in the operating performance of both its main business units, helped in part by rising stock market prices that attracted customers to invest more.
BlackRock’s Laurence Fink is at it again, posting his latest open letter to the nation’s chief executives on Tuesday full of ambitious-sounding ideas for improving corporate governance. His first letter, written in January 2012, had a narrow focus. Fink wanted CEOs and board chairmen to know that when activists and companies locked horns, BlackRock, the giant investment management firm he has run for 30 years, would no longer pay attention to the recommendations of proxy advisory firms. Instead,...
The State of Wisconsin Investment Board names a new executive director
Rick Smirl, a partner and chief operating officer at William Blair Investment Management in Chicago, will be the new executive director of the State of Wisconsin Investment Board.
SWIB manages more than $115 billion in assets, the bulk of which consists of Wisconsin Retirement System (WRS) funds. The WRS is the ninth-largest public pension fund in the U.S., serving more than 600,000 active and retired public employees, and currently stands at $106.3 billion.
Lansing — Michigan State University has invested in a hedge fund managed by a powerful investor of ultra-conservative Breitbart news, which has been described as "the platform for the alt-right" by the outlet's founder and President Donald Trump's former chief strategist Steve Bannon.
San Antonio-based vision company HVHC is selling one of its business units and a minority stake in its second to private investment firm Centerbridge Partners in a deal that could be worth billions.
Two weeks ago, while I was in Chicago at the Morningstar Investment Conference, I visited with Nicholas VanDerSchie, the head of managed portfolio services at Morningstar Investment Management, a wholly owned subsidiary of Morningstar Inc.
Donald Trump vowed to stick up for Main Street over Wall Street — that line helped get him elected.
But the new president has already hit a roadblock, with fellow Republicans who control Congress balking at Trump’s pledge to close a loophole that allows hedge fund and private equity managers to pay lower taxes on investment management fees. Many of them are based in Connecticut.
Stockman Asset Management, an independent Registered Investment Advisor and one of the leading providers in Montana of integrated wealth management solutions, has changed its name to Stockman Wealth Management. The change was enacted to better describe the company’s “client-first” service philosophy, detailed financial planning services and investment management focus. Stockman Wealth Management offers these services with locations in Billings, Helena, Missoula and Conrad.
- San Antonio Express-NewsAx falls at USAA in wake of $850M sale of investment businessMay 2, 2019
- The Herald-ArgusHarbour Trust President & COO, Executive Assistant receive inspiring Women AwardsJanuary 19, 2019
- Houston ChronicleGrowing Houston software firm lands $200 million investmentJanuary 11, 2019
- Idaho State JournalFormer owner and CEO of Yellowstone Partners investment firm indicted for fraudNovember 18, 2018
- The Times-TribuneMerge PlansOctober 25, 2018
McDonald’s sells China business in deal worth up to $2.1B
HONG KONG (AP) — Fast-food giant McDonald's is selling a controlling stake in its China business to a group of investors led by state-owned Chinese conglomerate Citic in a deal worth up to $2.1 billion, the companies said Monday.
The transaction is part of a global business overhaul being carried out by the American company to keep up with changing tastes that have resulted in declining sales.
Investment firm to create up to 600 new jobs in Connecticut
HARTFORD, Conn. (AP) — A global investment management firm plans to expand its headquarters and operations in Connecticut over the next decade, creating up to 600 new jobs.
Gov. Dannel Malloy said the $72 million project by AQR Capital Management will also retain 540 jobs and increase the firm's economic impact in the state.
AQR was established in New York before moving its operations to Connecticut in 2004. Since then, the Greenwich-based firm has grown by more than 500 employees.
Alan Greenspan, the former chairman of the Federal Reserve, will serve as a consultant and economic advisor to a Ridgewood investment management company, the company said Friday.
Brazil state oil co. Petrobras sells pipeline unit for $5.2B
RIO DE JANEIRO (AP) — The board of Brazilian state-run oil giant Petrobras has approved the sale of a key natural gas pipeline unit to a group of investors led by Toronto-based Brookfield Asset Management.
Petrobras says the group will pay $5.2 billion over five years to acquire a 90 percent stake in the Nova Transportadora do Sudeste unit.
Pimco transitions again: New CEO will join Newport Beach firm in fall
The bond giant Pimco has hired Emmanuel Roman, chief executive of the British hedge fund manager Man Group, as its new top executive, as the Newport Beach-based fund looks to turn around its fortunes.
The announcement comes nearly two years after Bill Gross, Pimco's co-founder - who is known as the "bond king" - was forced out and joined its rival, Janus Capital Group.
The hiring of Roman, a former Goldman Sachs banker who joined Man in 2010, comes at a pivotal time...
- Business WireMolpus Earns Carbon Project Developer of the Year Award from California Climate Action ReserveMay 20, 2019
- Globe NewswireLodestar Investment Counsel to Join Focus Partner Firm Bartlett & Co. Wealth ManagementMay 17, 2019
- Business WireMorgan Stanley Investment Management Raises $785 million for North Haven Senior Loan FundMay 17, 2019
- Business WireTowerBrook Announces Strategic Investment in KeHEMay 17, 2019