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    Student-Exporter New Jersey Asks College Bond

    New Jersey Governor Chris Christie and lawmakers are pushing for the state’s first general-obligation bond issue for higher education in almost 25 years in a bid to reduce the nation’s biggest exodus of college students. Voters in the 11th-most populous state, devastated by Hurricane Sandy this week, are set to decide Nov. 6 on a $750 million bond for college construction. [...]

    Banks Tie Notes to Equities, Debt to Boost Returns

    Banks are adding additional links to credit risk in the structured notes they sell, seeking to offer higher returns while taking advantage of a record bond rally. UBS AG, Credit Agricole SA and Royal Bank of Scotland Group Plc sold $51.6 million of hybrid notes in the past two months that were tied to both debt [...]

    KPS Plans to Seek $3 Billion for Next Fund

    KPS Capital Partners LP plans to seek $3 billion for its next special situations fund, which it will officially begin marketing next year, according to two people familiar with the matter. The new fund will likely come to market in the second quarter, said one of the people. The fund’s predecessor, KPS Special Situations Fund III, originally [...]

    American Airlines Union Sees Contract Agreement Soon

    American Airlines’ pilot union said there’s a chance a contract agreement may be reached soon and told members it’s urging creditors to appoint new directors for bankrupt parent AMR Corp. Allied Pilots Association advisers are “confident” that some major AMR creditors agree on the need for a new board that would then “appoint management to lead the [...]

    Captrust Seeks Long/Short Equity, MBS Funds

    Captrust Financial Advisors, the Raleigh, North Carolina-based advisory firm with $75 billion in assets under advisement, is searching for a variety of hedge fund strategies for potential client allocations, including sector-specific long/short equity and those invested in mortgage-backed securities. Captrust is searching for long/short equity funds focused on energy, specifically in infrastructure, and health care, Eric Freedman, chief [...]

    China Brief 10/29/12 – Free Download

    Download the latest edition of the China Brief here

    Berkshire Hathaway to Open ResCap Loan Bids

    Berkshire Hathaway Inc. is the opening bidder today for a portfolio of Residential Capital LLC’s whole loans, a day after Res-Cap auctioned its mortgage servicing business to Ocwen Financial Corp. for $3 billion. Berkshire will start tomorrow’s auction for the loan portfolio, competing against a consortium of financial investors, according to a person familiar with the matter. Yesterday Ocwen [...]

    N.Y. Giants’ Hometown Penalized by Standoff

    The National Football League’s New York Giants sit atop their division. Their New Jersey hometown is in the fiscal cellar. East Rutherford, a suburb of 8,900 people about 13 miles (21 kilometers) west of Manhattan, is struggling to assemble the state’s tardiest budget as it battles the team over a tax bill. Investor patience is wearing thin with the borough, which [...]

    HgCapital Seeks $2.8 Bln for New European Fund

    HgCapital LLP is seeking 1.75 billion British pounds ($2.8 billion) for its next fund that will make private equity investments in Europe, according to a summary of terms viewed by Bloomberg News. HgCapital 7’s hard cap is 2 billion British pounds, slightly more than the close to 1.9 billion British pounds the prior fund gathered in [...]

    ResCap Auction Is Key for Servicer Supremacy

    Nationstar Mortgage Holdings Inc. and Ocwen Financial Corp., which have seen their share prices more than double this year, are battling to become the largest non-bank home-loan servicers in a consolidating industry. They’ll resume bidding today in a bankruptcy auction in a midtown Manhattan hotel for Residential Capital LLC’s loan- servicing unit after trading competing offers in a session that lasted into the evening. [...]

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