Thursday, 20th November 2008

 

7 October 2008 - Press Briefing

Gates investment firm ups stake in wealth manager

Cascade Investment, Bill Gates' investment firm, has increased its stake in Gamco Investors, the asset manager led by billionaire Mario Gabelli, through acquisition of a $60m (€44.2m) convertible note, according to a Reuters report.

The ten-year note, which yields an interest of 6.5%, is convertible into the company's class A common stock at $70 per share, Gamco said. This will increase Cascade's stake in Gamco to 18.9% from 10.4%, the Reuters report said.

Tags: Cascade Investment , Gamco Investors

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Mayfair goes Modern

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Barclays Wealth forecasts 400,000 Indian dollar-millionaires

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