Money Management Executive Latest News

A private equity consortium led by Silver Lake Partners is in talks to buy SunGard Data Systems for as much as $10 billion, a move that would mark one of the biggest leveraged buyouts since the RJR Nabisco takeover, it was reported last week.

As a federally mandated registration deadline nears, many hedge fund managers are considering longer lock-up periods to elude the regulation, a recent report indicates.

Baby Boomers nearing retirement are in a fix: a fast-approaching retirement without enough retirement income.

Fidelity Investments is investing $100 million to spin off its institutional investment arm in an effort to rein in new assets from pension funds, endowments and other large foundations.

Hennessy Advisors of Novato, Calif., which now manages five no-load funds, has been shopping again.

Money Management Executive and SourceMedia are accepting nominations for the third annual Fund Operations Awards.

State Street Corp. reportedly paid Chief Executive Officer Ronald Logue a $2.8 million bonus for 2004, raising his total compensation to $6 million.

Signaling their tremendous rise from obscurity in recent years, separately managed accounts were honored last Tuesday with their first annual awards by Standard & Poor's.

Canadian mutual funds may not be out of the woods just yet.

Employee compensation and benefits consultant Clark has been subpoenaed by New York Attorney General Eliot Spitzer in connection with potential conflicts of interest from contingent commissions. Clark said it is fully cooperating with the inquiry. In 2004, contingent commissions made up $11.3 million of Clark's $315.6 million total revenue, according to Clark vice president Jim Radosevich. He said the company, which has not been accused of any wrongdoing, does not intend to stop accepting these commissions.