Hedge Fund News: Jeffrey Smith, Julian Robertson & David Abrams

Page 1 of 2

Starboard Value’s Latest Demand Is a Throwback to the ‘80s (InstitutionalInvestorsAlpha) When Jeffrey Smith of New York–based hedge fund firm Starboard Value detailed his case for significantly boosting the value of packaging company MeadWestvaco Corp. (NYSE:MWV), he identified several opportunities for management and the board. But one of those items made me sit up and take notice. In a 12-page letter sent to MeadWestvaco chairman and chief executive John Luke, the aggressive activist investor, whose firm owns 5.6 percent of the stock, said he thinks the combined value of MeadWestvaco’s assets far exceeds its current share price, and that this value is undermined by excessive corporate overhead and its conglomerate structure. Among the tactics Smith proposes are some pretty typical items in an activist’s…

Jeff Smith

Chicago Financial Communities raise over $670K for local charities at Hedge Funds Care Gala (HedgeCo) On May 8, the Midwest financial community gathered at the 12th Annual Midwest “Open Your Heart to the Children” Benefit organized by Hedge Funds Care/Help For Children (HFC). The event raised over $670,000, which will be distributed to local Midwest charities that work to prevent and treat child abuse through HFC’s rigorous granting process, which is widely recognized as the best in the field. A highlight of the Chicago social calendar, the Benefit brings together the hedge fund, proprietary trading, private equity, and venture capital communities to provide direct support for local Chicago charities that prevent and treat child abuse. Edward Haravon of Spot Trading and Benji Wolken of Ernst & Young LLP are this year’s Midwest Committee of Hearts Co-Chairs.

Morgan Stanley AIP Raises $500M For HF Secondaries Fund (Finalternatives) Morgan Stanley (NYSE:MS) Alternative Investment Partners has secured $500 million in commitments for a new fund which seeks to capitalize on medium-term opportunities in the hedge fund space. The AIP Strategic Opportunities Fund I, a closed-end investment fund, will focus on hedge fund secondaries, co-investments and other opportunistic strategies. Mark van der Zwan and Jarrod Quigley, managing directors, are SOF I’s primary portfolio managers. “We are pleased that we have achieved our fundraising goal for SOF I,” said Mustafa Jama, chief investment officer of the $20 billion Morgan Stanley AIP hedge fund group, in a statement.

That Time A Super Rich Hedge Fund Manager Wrestled His Middle-Class Brother Over A $50 Timex Watch (BusinessInsider) Writer Eric Spitznagel, the brother of hedge fund manager Mark Spitznagel, had a fascinating essay in the New York Times Magazine this weekend about what it’s like being middle class and having an ultra-wealthy brother. Mark Spitznagel, founder of hedge fund Universa Investments, is known for his negative predictions about the market. He made a killing betting things would go south in 2008. In the essay, Eric shared an anecdote about how he was wearing their late-father’s $50 Timex stainless-steel Timex watch and how Mark tried to buy it off him. Eric refused to sell the watch no matter what price was offered. Instead, the middle-aged men ended up wrestling for the sentimental timepiece.

In Boston, Secretive Hedge-Fund Billionaire Stays in Shadows (WSJ) As The Wall Street Journal reported today, one ultra-secretive hedge-fund manager has managed to stay hidden despite crossing into the billionaire’s club and earning untold more for his wealthy investors in recent years. David Abrams, 53, would be near the top of every list of highly-paid hedge-fund managers—if anyone had known his name, until now. The veteran of Seth Klarman’s Baupost Group has built an almost $8 billion firm with virtually no external marketing, nor public speaking. Between 2009 and 2013, one of Abrams’ main funds returned 19% on an annualized basis, after fees—a performance better than 97% of all America’s hedge-fund managers, and nearly unprecedented for a fund of its size, according to data provider HedgeFund Intelligence.

DMS Offshore Investment Services wins 2014 Hedgeweek US Award (HedgeWeek) DMS was awarded “Best Offshore Regulatory Advisory Firm” in the 2014 Hedgeweek US Awards at a ceremony held in New York City on 29 May. DMS received a similar honour on 28 February in London, when it was named Best Offshore Regulatory Advisory Firm in Hedgeweek’s Global 2014 awards. For both awards, DMS was selected through a poll of the magazine’s readers and the firm had no part in soliciting the award. More than 1,300 votes were cast by Hedgeweek’s US-based readers for this latest award, the highest number to do so, Hedgeweek noted.

Trader buys TBT (CNBC)

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!