Tag Archives: sources

U.S. hedge fund partners at startup Livia split prior to they even begin – sources

NEW YORK Sara Tirschwell and Dan Kamensky lined up everything to launch a productive hedge fund, only to understand they could not function together, two individuals familiar with the matter told Reuters.

The pair decided on an amicable departure from their planned joint-venture, New York-based Livia Capital Partners, according to one particular of the men and women. Kamensky will relaunch the fund management organization on Jan. 4 as Marble Ridge Capital, the person mentioned. Marble Ridge will have the same five-individual group, minus Tirschwell, and it will practice the identical “distressed” approach, investing in the stocks and bonds of financially troubled companies.

On paper Livia seemed effectively positioned in a highly competitive market place. Tirschwell and Kamensky had honed their skills as senior distressed investment experts at $ 25 billion Davidson Kempner Capital Management and $ 18 billion Paulson & Co., respectively

Aurora Investment Management, which locations funds in hedge funds, had agreed to give them $ 175 million to support launch, according to one of the people.

And Tirschwell’s position as lead portfolio manager of the firm appeared to position it for investor capital reserved for ladies and minorities, who are drastically underrepresented in the hedge fund market.

Livia, legally launched in February, was set to start trading in December. Aurora has suspended its seed deal, according to the two sources. Aurora declined to comment.

A considerable portion of the consumers who had signed on with Livia are transferring their assets to Marble Ridge, according to the person. The firm will initially be closed to further capital but Kamensky expects to raise yet another $ 200 million in the future.

Tirschwell and Kamensky have known each and every other for years but in no way worked at the exact same organization.

Kamensky was a partner at Paulson who worked on distressed investing from 2009 till February this year. He was component of a team that made winning bankruptcy-associated investments, such as Lehman Brothers Holdings and Residential Capital, according to a third particular person familiar with his background. Just before Paulson, Kamensky worked at Barclays Capital and Lehman Brothers.

Tirschwell’s plans have been unclear and she did not respond to requests for comment. Prior to her decade at Davidson Kempner, she led or helped lead bank loan trading at Imperial Capital and NationsBanc Montgomery, which became Bank of America Securities.

(Reporting by Lawrence Delevingne Editing by Lisa Shumaker)

U.S.-Japan funded Raytheon SM-three missile aces second test: sources

WASHINGTON The United States and Japan on Tuesday conducted a second successful test of Raytheon Co’s new Regular Missile-three (SM-3) Block IIA missile that is getting jointly created by the two nations, according to two sources familiar with the test.

In the course of the test off the coast of Southern California near Malibu, the missile opened its new sensor seeker in space for the 1st time and utilized new altitude control rockets to target a star, stated a single of the sources, who was not authorized to speak publicly.

No intercept was planned for this test and no target missile was launched, but numerous intercept tests will following in coming years, mentioned the source.

The United States spent just more than $ two billion on the SM-three IIA weapons system, although Japan contributed about $ 1 billion, according to the U.S. Missile Defense Agency.

The new missile is a 21-inch variant of an earlier SM-three missile and functions with the U.S. Aegis combat system built by Lockheed Martin Corp to destroy incoming ballistic missile threats in space.

Tuesday’s test marked yet another milestone toward deployment of the missile on U.S. Aegis destroyers and Japan’s Kongo ships in coming years, as properly as the U.S. Aegis Ashore site in Poland in 2018.

The test also validated the new sensor seeker developed for the redesigned kill car, or warhead, that will at some point replace the ones now used on the U.S. fleet of ground-based interceptors in Alaska and California that are component of the U.S. homeland missile defense technique, the sources mentioned.

Neither Raytheon nor the U.S. Missile Defense Agency had any quick comment.

Raytheon’s new SM-3 IIA missile has larger rocket motors and a much more capable kill vehicle that would permit the missile to engage threats sooner and safeguard bigger regions from quick- to intermediate-range ballistic missile threats.

On Tuesday, the Pentagon announced that Raytheon was awarded a contract for a lot more than $ 543 million for 17 SM-three IIA missiles.

(Further reporting by Idrees Ali Editing by Leslie Adler and David Gregorio)

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Turkish bank operations in Russia to be excluded from Moscow sanctions -sources

ISTANBUL Dec 7 Turkish banks will be excluded from Russian sanctions, market sources told Reuters on Monday, escaping a crackdown by Moscow that could cost Turkey up to $ 9 billion in retaliation for the shooting down of a Russian jet final month.

The Turkish Banking Association has told banks that their Russian operations will not face sanctions from Moscow, citing information provided by Denizbank, the Turkish unit of Russia’s Sberbank, two banking sources mentioned.

Denizbank declined to comment.

An official for the Turkish Banking Association confirmed it had received such details from Denizbank and forwarded it to other Turkish banks, but declined to give additional information. (Reporting by Ebru Tuncay Writing by Ece Toksabay Editing by David Dolan and David Holmes)

Yemen’s Aden governor killed in suicide auto bombing: sources

ADEN The governor of Yemen’s Aden province Jaafar Mohammed Saad was killed on Sunday when a suicide bomber rammed his auto into the governor’s convoy in the western component of Aden city, residents and a regional official mentioned.

They mentioned at least six of his entourage also died in the attack, which occurred although the governor was heading to function. Numerous other individuals had been also wounded in the bombing.

The sources had earlier mentioned attackers had employed rocket-propelled grenades to target Saad.

No one quickly claimed responsibility for the attack, but Islamist militants are operating in the city, 4 months soon after supporters of President Abd-Rabbu Mansour Hadi and a mostly Gulf Arab coalition led by Saudi Arabia drove Iran-allied Houthi fighters from Aden, Yemen’s second largest city.

Saad, a former common in the army of the former southern Yemen ahead of the Marxist state merged with northern Yemen in 1990, was appointed governor in October.

Hadi returned to Aden from Saudi Arabia final month, almost eight months following he fled to escape the Houthi advance. He has been attempting to shore up security in the city and oversee fighting against the Houthis in the province of Taiz, north of Aden.

(Reporting by Mohammed Mukhashaf and Mohammed Ghobari, writing by Sami Aboudi Editing by Dominic Evans)

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3 killed in Lebanon as militant blows himself up during raid: security sources

BEIRUT A suspected Islamist militant and two members of his loved ones were killed in northern Lebanon on Saturday, soon after the man blew himself up for the duration of an army raid on his home, safety and healthcare sources stated.

It was the newest in a series of arrest raids across the nation since two suicide bomb blasts claimed by Islamic State killed 44 individuals in a crowded industrial and residential area of Beirut final month.

The raid took location in the town of Deir Ammar, northeast of the city of Tripoli. The explosion killed the wife and mother of the suspect, who was named as Mohammed Hamzeh, a safety source said.

At least ten other folks have been wounded, including four security personnel. A security source mentioned Hamzeh was part of a group that had pledged allegiance to Islamic State.

A Lebanese court charged 26 men and women final week with belonging to Islamic State, 23 of whom have been directly linked to the Beirut bombings, which targeted a Shi’ite Muslim suburb.

The Syrian civil war across the border has spilled more than into its smaller sized neighbor on a number of occasions, with Sunni extremist bombings against Shi’ites, clashes in between gunmen who support opposing sides in Syria, as properly as amongst the army and Islamists.

Al Qaeda’s Syria wing on Tuesday freed 16 Lebanese safety personnel it had held given that August 2014 soon after it and Islamic State briefly overran the border town of Arsal, in return for the release of jailed Islamists.

(Reporting by Nazih Siddiq and John Davison Editing by Susan Fenton)

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Turkish soldiers instruction Iraqi troops near Mosul: sources

ISTANBUL/ANKARA A number of hundred Turkish soldiers have been deployed to give instruction for Iraqi troops in an area close to the northern Iraqi city of Mosul, which is beneath Islamic State control, a Turkish security source told Reuters on Friday.

Islamic State militants overran Mosul, a city of more than one million men and women, in June 2014, but a much anticipated counter-offensive by Iraqi forces has been repeatedly postponed because they are involved in fighting elsewhere.

“Turkish soldiers have reached the Mosul Bashiqa region. They are there as element of routine education workout routines. One battalion has crossed into the area,” the source said, declining to say precisely how many soldiers had been deployed.

He said troops had already been in Iraqi Kurdistan and had moved to Mosul accompanied by armored autos, in a move which coalition countries targeting Islamic State were aware of.

Video released on the site of Turkey’s pro-government Yeni Safak newspaper showed flatbed trucks carrying armored automobiles along a road at evening, describing them as a convoy accompanying the Turkish troops to Bashiqa.

A statement from the Iraqi prime minister’s media workplace confirmed that Turkish troops numbering “about one armed battalion with a quantity of tanks and cannons” had entered its territory close to Mosul with no request or permission from Baghdad authorities. It referred to as on the forces to leave right away.

In a separate statement flashed on state Tv, the Iraqi foreign ministry known as the Turkish activity “an incursion” and rejected any military operation that was not coordinated with the federal government.

A senior Kurdish military officer based on the Bashiqa front line, north of Mosul, said further Turkish trainers had arrived at a camp in the region overnight on Thursday escorted by a Turkish protection force.

He said he was not aware of the size of the force and refused to speculate.

The camp is employed by a force known as Hashid Watani (national mobilization), which is created up of primarily Sunni Arab former Iraqi police and volunteers from Mosul.

It was formed by former governor Atheel al-Nujaifi, who is close to Turkey. There was currently a modest number of Turkish trainers there before this most current deployment

“Our soldiers are currently in Iraq. A battalion of soldiers has gone there. Instruction was currently becoming offered in that region for the final two to 3 years. This is a portion of that education,” 1 senior Turkish official stated.

In Washington, two U.S. defense officials mentioned on Friday that the United States was aware of Turkey’s deployment of hundreds of Turkish soldiers to northern Iraq but that the move is not component of the U.S.-led coalition’s activities.


An additional senior Turkish official stated the soldiers in the area had been there to train Kurdish Peshmerga fighters.

Turkey has close relations with the Kurdish autonomous zone of northern Iraq, although it views Syrian Kurdish groups across the border as hostile to its interests.

“This is component of the fight against Daesh (Islamic State),” he said, adding that there were around 20 armored vehicles accompanying them as protection.

Islamic State occupies swathes of Iraq and Syria, profiting from disunity among groups opposing it.

On Tuesday, the United States mentioned it was deploying a new force of special operations troops to Iraq to conduct raids against Islamic State there and in neighboring Syria, ratcheting up its campaign against the group.

Iraqi Prime Minister Haider al-Abadi’s office has said it welcomed foreign assistance but Iraq’s government would need to have to approve any deployment of unique operations forces anywhere in Iraq.

Abadi reiterated that foreign ground combat troops have been not necessary in Iraq. Potent Iraqi Shi’ite Muslim armed groups have pledged to fight any deployment of U.S. forces to the country. It was unclear how they viewed the presence of Turkish soldiers.

(Further reporting by Isabel Coles in Erbil, Stephen Kalin in Baghdad, Ahmed Tolba in Cairo and Phil Stewart in Washington Writing by Daren Butler Editing by Ralph Boulton and James Dalgleish)

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Double suicide blast in Cameroon kills at least 3: sources

YAOUNDE Suspected Boko Haram militants detonated two suicide bombs in north Cameroon overnight, killing at least 3 folks, an official and safety sources said on Wednesday.

“There was a double suicide attack last evening in Waza in the far north of Cameroon with a toll of six dead, such as the three kamikazes (attackers),” mentioned Michel Oumarou, deputy prefect for the town of Waza.

(Reporting by Sylvain Andzongo and Anne Mireille Nzouankeu Writing by Emma Farge Editing by Catherine Evans)

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RPT-UAE’s KBBO hires Goldman, Morgan Stanley for Centurion London listing -sources

(Repeats to add bank names to headline, no other modify)

By Stanley Carvalho and Hadeel Al Sayegh

ABU DHABI Nov 29 United Arab Emirates’ investment business KBBO Group has hired Goldman Sachs and Morgan Stanley amongst other folks for an expected $ 1 billion-plus London listing for 1 its subsidiaries, sources close to the matter told Reuters.

Privately-owned KBBO plans to sell up to 40 % of Centurion Partners in an initial public supplying (IPO) planned for the first half of 2016, the sources stated on Sunday, declining to be named due to the fact the matter was not but public.

Three other banks — Dubai’s Emirates NBD, Abu Dhabi Islamic Bank (ADIB) and EFG-Hermes — have been hired for the sale, the sources added.

Officials at KBBO declined to comment.

Centurion Partners was designed via the merging of two KBBO subsidiaries, Centurion Investment and Infinite Investment LLC.

Goldman Sachs and Morgan Stanley will act as bookrunners and global coordinators whilst EFG-Hermes is hired as a bookrunner. Emirates NBD and ADIB will act as co-lead managers, the sources stated.

Guggenheim KBBO Partners, a joint venture in between New York-based investment firm Guggenheim Partners and KBBO, is also acting as an adviser.

The loved ones investment firm named soon after chairman Khalifa Butti Bin Omeir is raising capital to fund new investment opportunities and to monetise current investments, sources had told Reuters in August.

KBBO’s investments variety from economic services to defence and it owns stakes in healthcare provider NMC Group, remittance and foreign exchange organization UAE Exchange and UAE Defence Technologies Co among other individuals. (Editing by David Goodman)

Twin suicide attacks kill five individuals in north Cameroon: sources

YAOUNDE Suspected Boko Haram militants detonated two suicide bombs in a village in northern Cameroon on Saturday, killing at least five people, security sources and an official told Reuters.

“The provisional toll is seven dead, like the two suicide bombers, as well as two soldiers injured,” mentioned a senior government source, requesting anonymity.

(Reporting by Josiane Kouagheu and Sylvain Andzongo Writing by Emma Farge editing by Susan Thomas)

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