Hedge Fund Highlights: Barry Rosenstein, Dan Loeb & Pine River Capital Management

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Inside the life and stellar career of the self-made New York financier who has become so wealthy he just bought America’s most expensive home for $145M (Daily Mail)
At 24 he reportedly negotiated a $1 million salary from the man who inspired Michael Douglas’ Wall Street character Gordon Gekko. Last year he took home $250 million. And earlier this month he splashed $147 million for a vacation home, which happened to be the costliest private residence ever sold in the United States. Meet Barry Rosenstein, the 54-year-old New York financier whose personal wealth is estimated at $1.3 billion, according to Forbes.

Barry Rosenstein JANA PARTNERS

Exclusive hedge funds crack open door to Main Street (Reuters)
As a $14.8 billion hedge fund with a reputation for savvy mortgage trades and a record of double-digit returns, Pine River Capital Management has long signed up multi-billion-dollar pension and sovereign wealth funds as investors. Now the exclusive hedge fund is making some of its strategies available to Main Street investors who’ve been warned that bets on stocks and bonds may not see them through retirement. For as little as $1,000, they can include hedge funds in their nest eggs.

Rachesky’s game puts satellite company sale in jeopardy (New York Post)
Hedge-fund manager Mark Rachesky is playing another game of “The Price is Right,” the Loral edition. Rachesky’s MHR Fund Management, which owns a controlling stake in Loral Space & Communications Ltd. (NASDAQ:LORL), put the New York satellite company on the block in January. The former Carl Icahn protégé is said to be seeking between $80 and $90 a share for Loral — well above Friday’s closing price of $70.94. The stock is down from a high of $82.13 after The Post first broke news of the auction.

Dan Loeb’s Top Bullish Moves During the First Quarter (Insider Monkey)
Dan Loeb, the manager of Third Point is one of the pioneers in activist investing. Third Point had over $15 billion in Assets Under Management at the end of the first quarter of the year and revealed an equity portfolio worth $6.81 billion in the latest round of 13F filings. During the first three months of the year, Dan Loeb’s fund added over 20 new positions to its equity portfolio and raised its stakes in eight of its holdings.

Woodbine Capital Hedge Fund Said to Return Client Money (Bloomberg)
Joshua Berkowitz, who started hedge-fund firm Woodbine Capital Advisors LP on the heels of producing a 121 percent gain as a trader for billionaire George Soros in 2008, is returning client money after failing to meet performance goals, a person briefed on the matter said. The manager told clients in a letter yesterday that he will give back their capital at the end of the month, said the person, who asked not to be identified because the information is private. Todd Fogarty, a spokesman for New York-based Woodbine at Kekst & Co., declined to comment on the plans.

SumZero’s stock picking contest (CNBC.com)

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