Bloomberg's Alesci Discusses Broker-Dealer Ventures

Sept. 3 (Bloomberg) -- Bloomberg News reporter Cristina Alesci talks with Julie Hyman and Mark Crumpton about efforts by private-equity managers to invest in or create broker-dealers as they seek to profit from shifts in the financial industry. Warburg Pincus LLC is investing $125 million in a new broker-dealer through a venture called Cortview Capital Securities LLC. Co-founder Ted Luse said he expects Cortview to raise as much as $2 billion within a year to support debt trading. (Source: Bloomberg)