Latest Investment management News

Who's behind voting-machine makers? Money of unclear origins

Jul. 12, 2019 3:34 PM EDT

RALEIGH, N.C. (AP) — The voting-machine makers that aim to sell their systems in North Carolina are largely owned by private equity firms that don't disclose their investors. The companies didn't want the public to know even that much. North Carolina's statewide elections board demanded the machine-makers'...

The Latest: Labor secretary defends Epstein plea deal

Jul. 11, 2019 3:05 AM EDT

NEW YORK (AP) — The Latest on developments in the sex trafficking case against Jeffrey Epstein (all times local): 7:05 p.m. The former Palm Beach County state attorney is disputing Labor Secretary Alex Acosta's account of why he signed off on a secret sex trafficking plea deal involving now-jailed...

Appeals court orders unsealing of records in sex-tinged case

Jul. 3, 2019 5:42 PM EDT

NEW YORK (AP) — A federal appeals court on Wednesday ordered the unsealing of nearly 2,000 pages of records related to a civil case that may contain lurid claims about the sexual history of a wealthy hedge fund manager whose friends included Donald Trump before he became president, former President Bill...

Man convicted of murdering his dad over cut in allowance

Jun. 28, 2019 9:31 PM EDT

NEW YORK (AP) — A man accused of killing his wealthy father for cutting his allowance has been convicted of murder, with a New York jury rejecting his insanity defense. Thomas Gilbert Jr. showed no emotion as the verdict was delivered Friday. The 35-year-old is set for sentencing Aug. 9. He faces up to...

Ex-executive at bankrupt private equity firm pleads guilty

Jun. 28, 2019 5:04 PM EDT

NEW YORK (AP) — A former top executive at a Dubai-based emerging markets firm that coaxed the Bill & Melinda Gates Foundation and the U.S. government to invest in feel-good projects pleaded guilty Friday, saying he was wrong to be silent as his firm exaggerated its finances to win over new investors....

Lego strikes deal to buy Legoland, Madame Tussauds

Jun. 28, 2019 8:50 AM EDT

COPENHAGEN, Denmark (AP) — The owners of toy maker Lego are teaming up with a group of investors to buy Merlin Entertainment, a British company that operates theme parks like Legoland and the Madame Tussauds wax museums. Kirkbi Invest said Friday it is joining forces with private equity firm Blackstone and...

Montreal group supports idea of sharing Rays with Tampa Bay

Jun. 26, 2019 5:20 PM EDT

MONTREAL (AP) — The son of former Montreal Expos owner Charles Bronfman believes the predominantly French-speaking city is ready and willing to support — and share — the Tampa Bay Rays. Private equity investor Stephen Bronfman leads a group working on bringing baseball back to Montreal and...

Texas Monthly magazine bought by oil and gas heiress

Jun. 25, 2019 2:50 PM EDT

AUSTIN, Texas (AP) — A billionaire oil and gas heiress has bought Texas Monthly magazine. The Austin-based monthly magazine said Tuesday that its new owner will be Randa Duncan Williams, whose late father founded Houston-based Enterprise Products Partners. Williams chairs the newly formed Houston-based...

US CEO hands Oxford University $189 million for AI studies

Jun. 19, 2019 2:19 PM EDT

LONDON (AP) — An American billionaire has given Oxford University 150 million pounds ($188.6 million) for a new institute that will study the ethical implications of artificial intelligence and its vast potential to change society as we know it. The donation from Stephen Schwarzman, CEO of the private...

Chicago investment firm takes majority stake in Whataburger

Jun. 14, 2019 2:20 PM EDT

SAN ANTONIO (AP) — An investment firm has purchased a majority stake in Whataburger as the Texas-based fast-food company seeks to expand in an increasingly competitive market. Whataburger announced Friday that the purchase by Chicago-based BDT Capital Partners should be finalized by the end of the summer...