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SkyBridge Makes Bet On Young Hedge Fund Outpost

August 21, 2008 - Hedge fund investor SkyBridge Capital, which has about $1.8 billion under management in aggregate, is betting on global macro hedge fund Outpost Investment Group by investing as a limited partner.

Evercore To Receive $120M From Mizuho

August 21, 2008 - Evercore Partners said Thursday that it plans to raise $120 million in new funding through a deal with Japan’s Mizuho Corporate Bank.

Griffon, Goldman Team Up For Rights Offering

August 20, 2008 - Griffon Corp., a diversified holding company, has launched a rights offering involving one of Goldman Sachs’ investment units to raise up to $255 million in new financing.

Deutsche Loses Flannery To BofA

August 20, 2008 - Bank of America has poached rising star David Flannery from Deutsche Bank to run its global leveraged finance business. Flannery, who has formally left Deutsche, is expected to begin in his new role in November.

Seattle PE Firm Hires Leveraged Finance Banker

August 20, 2008 - Evergreen Pacific Partners, a Seattle private equity firm, has hired veteran Wall Street leveraged finance banker Edward Whatley Jr. to help it source new investment opportunities in the western US and Canada. Whatley previously worked for Credit Suisse.

Wachovia Sheds Land Loans

August 20, 2008 - Wachovia has off-loaded its multi-state loan portfolio to a joint venture led by Los Angeles-based residential land company LandCap Partners. The assets, valued at some $40 million according to sources close to the deal, include 2,900 finished and paper lots.

KeyBanc Taps M&A Banker From Jefferies

August 20, 2008 - KeyBanc Capital Markets is expanding its reach into private equity, most recently having tapped former Jefferies & Co. M&A banker Christopher Porter as a managing director in its financial sponsors group.

Cadwalader Establishes Covered Bonds Group

August 20, 2008 - Cadwalader, Wickersham & Taft became the latest US law firm to form a covered bonds practice.

Another Citi Banker Joins Greenhill

August 19, 2008 - James Flicker, most recently Citigroup's global head of paper and forest products banking, has left the bulge bracket for Greenhill & Co., the third banker to do so this year.

Rumors Of Lehman Sale Swirl

August 19, 2008 - Lehman Brothers may be close to a sale of its investment-management arm, a business that includes Neuberger Berman, in an attempt to generate some much needed cash. A Lehman spokesperson declined to comment on the possible divestiture.

BarCap Adds Two Bond Salesmen

August 19, 2008 - Barclays Capital announced it hired Steve Barral as a managing director and head of US convertible bond sales and Michael Stewart as a director on the convertible bond sales team.

Big Bank Will Go Down Soon: Harvard Prof

August 19, 2008 - If a Harvard economics professor is right, the tumult we've seen in the financial-services arena in the past year is going to look like a walk in the park compared to what's on the horizon.

CMBS Delinquencies Rose In July: Fitch

August 18, 2008 - A measure of commercial mortgage loan performance run by Fitch Ratings has found that smaller mortgages for commercial properties are more likely to have problems, thereby helping drive up delinquencies.

GAO Report Sounds Warning On PBGC Investment Strategies

August 18, 2008 - A US Government Accountability Office report criticized the Pension Benefit Guaranty Corp.'s investment policy and warned that an investment policy adopted this year to reduce a $14 billion deficit by investing in assets with 'a greater return' actually has more risk than previously acknowledged.

Back To School For Goldman

August 18, 2008 - GS Capital Partners, the private equity unit of Goldman Sachs, has completed its $192.5 million investment in a Boston student lender, The First Marblehead Corp.