lars windhorst to buy illiquid assets from h2o

Windhorst Gets $595 Million from German Investors for H2O Deal (Bloomberg) -- Financier Lars Windhorst has secured funding from two high-profile German investors to … The pitch won over two of Germany’s self-made entrepreneurs. The investors’ support is key for Windhorst, who in May agreed to repurchase the bonds -- that were issued by companies tied to him -- at discounted prices. – PostBulletin.com, These 3 Big Investing Forces Are Merging for the First Time, Some Are Betting on Red, Some on Blue. Corporate filings in Luxembourg show that a trust company previously used by Mr Windhorst registered a new entity called Evergreen Funding last month, which one person familiar with the matter said was the vehicle that would buy back the discounted assets. If H2O’s disposal of these illiquid positions proceeds as planned, it could alleviate pressure on the asset manager to comply with EU rules governing open-ended funds, which place a 10 per cent cap on illiquid assets, often referred to as the “trash ratio”. Nachdem in einem Blog der "Financial Times" berichtet wurde, dass H2O in erheblichem Umfang in wenig liquide Unternehmenspapiere aus dem Windhorst-Umfeld investiert hatte, zogen Anleger zweitweise rund acht Milliarden Euro aus den Fonds der Gesellschaft ab. In den Vorjahren hatten die Fonds Anlegern außerordentlich hohe Gewinne beschert. The proceeds of his high-yield bond sale will be used to buy back notes with a nominal value of more than 2 billion euros, according to the presentation. Windhorst himself invested about 400 million euros in his own bonds and a few outside investors took the rest, the people added. Natixis subsidiary saw its clients withdraw more than €8bn from its funds last summer. Natixis subsidiary saw its clients withdraw more than €8bn from its funds last summer, Lars Windhorst to buy illiquid assets from H2O, Boris Johnson throws down ‘no deal’ gauntlet to EU, Teacher decapitated by suspected Islamist in France, Macron claims trade deal upper hand in retort to Johnson, ‘Please like me’: Donald Trump loses ground with suburban women, The Deutsche Bank whistleblower who gave up $8m is going broke, Will America tear itself apart? Lars Windhorst to buy illiquid assets from H2O Financial Times | May 13, 2020 at 4:00 AM …, it has come under renewed pressure this year after its flagship bond and foreign exchange funds lost more than 50 per cent of their value, as the coronavirus outbreak knocked financial markets in… Dies berichtet die Wirtschaftszeitung "Financial Times" und beruft sich auf Insider. H2O on Friday suspended trading in eight funds with holdings of illiquid securities following pressure from France’s markets regulator. Fashion retail magnate Friedrich Knapp and health care entrepreneur Ulrich Marseille have contributed about 500 million euros ($595 million) of a 1.25 billion euro high-yield bond issued by a Windhorst vehicle to buy back the portfolio, according to people familiar with the matter and a presentation seen by Bloomberg. Der schillernde Investor Lars Windhorst kauft von H2O Asset Management illiquide Wertpapiere zurück. The German financier has recently held talks with other potential investors about taking part in the raise, some of the people said. H2O on Friday suspended trading in eight funds with holdings of illiquid securities following pressure from France’s markets regulator. “Evidence of poor stewardship and rampant risk-taking at H2O Asset Management has continued to mount even after concerns around illiquid corporate bonds at their funds arose in mid-2019,” said Matias Mottola, an associate director at Morningstar. Windhorst Gets $595 Million from Two Investors for H2O Deal. The following month, Evergreen issued a 1.25 billion euro one-year bond paying a yield of 12.5%, according to the investor presentation seen by Bloomberg. Read more: Natixis’ H2O Agrees to Sell Stocks, Bonds to Windhorst’s Vehicle. ), For more articles like this, please visit us at bloomberg.com, Like us on Facebook to see similar stories. Marseille confirmed by phone that he invested in the vehicle. All Rights Reserved. H2O agreed to sell the securities to Evergreen Funding, a new company owned by Windhorst’s trust, Bloomberg reported in May. We have seen too many…, Trolley dash: Tesco’s stock has briefly fizzled and then faded several times over the past five years…. German financier Lars Windhorst has struck a deal to buy back illiquid stocks and bonds from H2O Asset Management, nearly a year after concerns around these hard-to-sell assets sparked a stampede of investor withdrawals from the London-based investment firm. Knapp, 67, owns German fashion retail chain New Yorker which boasts more than 1,100 branches and 18,000 employees. We use cookies (opens in new window) for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and … Selling the bonds back to Windhorst allows H2O to unwind the illiquid assets that at the time prompted concerns about the firm’s risk controls. H2O, which managed about €30bn of assets before its recent meltdown, signed an agreement at the end of April with a new investment vehicle set up by Lars Windhorst, which will buy back stocks and bonds linked to the German financier at a discount, according to people familiar with the matter. Die Höhe der Wertminderung ist nicht bekannt. (Bloomberg) -- Financier Lars Windhorst has secured funding from two high-profile German investors to help him buy back illiquid bonds from H2O Asset Management that were at the center of a crisis last year. www.institutional-money.com, Demnach nimmt der deutsche Finanzier der Fondsgesellschaft Aktien und Anleihen ab, die seinem Unternehmenskreis zuzurechnen sind. H2O Asset Management: illiquid love. 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Windhorst kauft H2O illiquide Papiere ab Das Investmenthaus H2O Asset Management hatte en gros Wertpapiere gekauft, die zum Beteiligungskreis des deutschen Finanziers Lars Windhorst zählen. Ein Sprecher von Windhorsts Investmentgesellschaft Tennor bestätigte die Transaktion gegenüber der Zeitung. Marseille made a fortune in sanatoriums, rehab and other specialized clinics. I used to be cool. Windhorst startete in den 1990er-Jahren eine steile Karriere als Jungunternehmer, geriet danach aber mit Insolvenzen in die Schlagzeilen. Zugangsdaten anfordern Noch nicht registriert? For H2O, the asset manager part-owned by Natixis SA, the sale of the bonds caps a rocky stretch that began with revelations about the investments’ links to the German financier. The potential for a liquidity crunch subsequently triggered about 8 billion euros of fund outflows. Marseille made a fortune in sanatoriums, rehab and other specialized clinics. Financier gets funds from retail magnate, ex-hospital owner, Bond proceeds to help fund buy-back of illiquid securities. Get alerts on H2O Asset Management when a new story is published.

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