Hedge Fund News Weeky Recap

Hedge Fund News Weekly Reacap – Hedge fund deals, billionaire managers  and investing news of week of May 27th to June 2nd.

hedge-fund-news

Hedge Fund Managers Generate Billions of Returns in Record Start to Year

Hedge fund managers including Chris Hohn, Crispin Odey and Dan Loeb have each generated double-digit returns since the beginning of 2013 according to the The Telegraph reports.

Although most of the high-rolling sector is still struggling to live up to its reputation – the latest Goldman Sachs Hedge Fund Trend Monitor shows the average year-to-date returns are just 5pc – some of the stars have manage to notch up stellar returns. The smart money has been placed on large bets that action by central banks will continue to fuel stock markets, despite underlying economic problems.

Hedge Fund Boss Baha Sees Gold at $3,000-$5,000
Christian Baha, the head of Austrian fund firm Superfund and representative of the hedge fund industry in Oliver Stone movie Wall Street 2: Money Never Sleeps, is predicting that the gold price could rise to between $3,000 and $5,000 over the next five to 10 years.
Baha, who says he has more than half his personal wealth in gold and silver, either physically or in units in Superfund funds denominated in the precious metals, believes that an unprecedented phase of quantitative easing by central banks is driving a bubble in government bonds, but that gold offers real value.

Goldman Failed Deals Yield Bausch Merger Fee Advising Both Sides

Goldman Sachs Group Inc. (GS) In recent months the New York investment bank failed to put together three potential mergers in the health-care industry. Yet Goldman Sachs managed to pull a deal out of the wreckage — Valeant Pharmaceuticals International Inc.’s $8.7 billion acquisition of contact-lens maker Bausch & Lomb Holdings Inc., announced this week.

Lloyds sells US mortgage portfolio for £3.3bn

Lloyds Banking Group has further accelerated its strategy of disposals by selling off a book of securities backed by US home loans for £3.3bn.

 

Nine’s Hedge Fund Owners Fly in for Buyout Talks Over WIN

Nine Entertainment Co’s US hedge fund owners Apollo and Oaktree are flying into Sydney for emergency talks about buying billionaire Bruce Gordon’s Adelaide and Perth television stations.

It is understood Mr Gordon is willing to do a deal and the hedge funds are set to meet with WIN representatives. The dramatic development comes as the clock ticks down on the looming deadline set by Cricket Australia for Nine to match Ten Network’s $450 million-plus bid for its broadcast rights.

dell-bDell Investor Suit Says Founder’s Buyout Bid Is Too Low
Dell Inc. founder Michael Dell, the company’s board and private-equity partners backing Dell’s bid to take the computer maker private were sued in Texas by investors seeking to block the deal.

Shareholders, led by a private investor and the Mid-South Iron Workers Pension Fund, said the founder’s $24.4 billion offer is underpriced when measured against Dell’s recent stock buyback program and competing valuations proposed by major stakeholder Carl Icahn,

Morgan Stanley Said to Move Asia Hedge-Fund Event to New York

Morgan Stanley (MS) will hold a gathering in New York to showcase Asian hedge funds to investors after pulling its capital introductions event in China because of the bird flu, said three people with knowledge of the matter.

Morgan Stanley told managers and investors last month the annual forum scheduled for Shanghai between May 21 and May 23 would be postponed and relocated to New York in July because of health concerns after the avian flu outbreak earlier this year, said the people, who asked not to be identified as the information is private. Xu Li, a Beijing-based spokeswoman of Morgan Stanley, declined to comment on the delay.

Hedge Funds Boost ICE Brent Crude Net-Longs by 16,460 Last Week

Hedge funds and other money managers raised bullish bets on Brent crude by 16,460 contracts in the week ended May 21, according to data from ICE Futures Europe.

Speculative bets that prices will rise, in futures and options combined, outnumbered short positions by 146,679 lots, the London-based exchange said today in its weekly Commitment of Traders report. The increase marks the fourth weekly gain and brings the level for net long positions to the highest since the week ended Feb. 26.

Hedge Fund Groups Scramble to Shape EU Bonus Rules
Hedge Fund groups want to shape the design of proposed rules regarding pay as hope dwindles that the introduction of a tough bonus cap can be prevented. The cap, which comes under the proposed Ucits V directive, will limit bonuses for key fund staff to 100 per cent of base salary.

chase_coleman-2Tiger Global Invests $50 Million in Automattic’s WordPress.com
Automattic, the company that operates blogging service WordPress.com, announced a $50 million investment from hedge fund and private-equity investor Tiger Global on Friday.

The investment comes on the heels of Yahoo’s $1.1 billion acquisition of blogging company Tumblr, showing the high prices fast-growing services that targeting Internet users can command. The valuation for Automattic was similar, Fortune reported. A spokeswoman for WordPress declined to comment.

CVC Said to Push Investors for July Close to Beat AIFMD

CVC Capital Partners Ltd. is pressing investors to commit to its 9 billion-euro ($12 billion) buyout fund within the next eight weeks to preempt European Union rules that could stop the private-equity firm seeking backers from the region, three people with knowledge of the fund said.

CVC is seeking to hold a first close of the fund at about 7 billion euros before July 22, said the people, who asked not to be identified because the talks are private. That will allow CVC to start spending the money and qualify for some exemptions from the EU’s Alternative Investment Fund Managers Directive, the people said.

Morgan Stanley Said to Move Asia Hedge-Fund Event to New York

Morgan Stanley (MS) will hold a gathering in New York to showcase Asian hedge funds to investors after pulling its capital introductions event in China because of the bird flu, said three people with knowledge of the matter.

Morgan Stanley told managers and investors last month the annual forum scheduled for Shanghai between May 21 and May 23 would be postponed and relocated to New York in July because of health concerns after the avian flu outbreak earlier this year, said the people, who asked not to be identified as the information is private. Xu Li, a Beijing-based spokeswoman of Morgan Stanley, declined to comment on the delay.

 

david_petraeus_ciaKKR Is Said to Hire Ex-CIA Chief Petraeus to Run New Unit

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