Hedge Fund Highlights: Philip Falcone, Ralph Whitworth & GLG Partners

Page 1 of 2

LightSquared, Ergen Reach Deal on Bankruptcy Plan (Wall Street Journal)
Philip Falcone‘s LightSquared Inc. reached a deal on a restructuring plan that has the support of DISH Network Corp (NASDAQ:DISH) Chairman Charlie Ergen, its top secured lender. In a court hearing Monday, a lawyer for a special committee of LightSquared’s board said the new plan would give Mr. Ergen a $1 billion allowed claim in the bankruptcy case, and calls for him to invest $300 million in new money into the wireless venture. The deal is a “stunning reversal to us,” said David Friedman, a lawyer for Mr. Falcone and his Harbinger Capital Partners hedge-fund company. Mr. Falcone and Harbinger had been adamant that they wanted Mr. Ergen out of LightSquared’s capital structure. LightSquared, for the most part, had agreed.

HARBINGER

HP interim Chairman Ralph Whitworth resigns to focus on health (Reuters)
Hewlett-Packard Company (NYSE:HPQ) said interim Chairman Ralph Whitworth resigned from its board of directors, effective Wednesday, to focus on his health. Whitworth, who runs activist hedge fund Relational Investors LLC, joined HP’s board in 2011. He was appointed HP’s interim chairman in April last year. It was not immediately clear what illness Whitworth, 58, was suffering from. Relational Investors said co-founder Whitworth was taking a leave of absence from the hedge fund and it wished “his family all the best at this difficult time.”

Maverick Capital’s Wyly Not Guilty Of Insider Trading (FINalternatives)
Maverick Capital and Ranger Capital founder Sam Wyly may be guilty of improperly hiding stock trades—but he’s not an insider-trader, a judge ruled Friday. U.S. District Judge Shira Scheindlin found that Wyly and his late brother, Charles, did not engage in insider-trading with a $40 million offshore swaps deal in 1999. The ruling comes two months after a jury found the Wylys liable for fraud in a case brought by the Securities and Exchange Commission.

GLG Hires Edwards From Stratton Street for Japan Equities (Bloomberg)
Man Group Plc (EMG)’s GLG Partners hired Adrian Edwards as a portfolio manager in its Japanese equities team from Stratton Street Capital LLP. Edwards will help manage GLG’s 1.29 billion-pound ($2.21 billion) Japan CoreAlpha fund, domiciled in the U.K., and its Dublin-based Japan CoreAlpha Equity (GLAAXGA) fund, with $4.35 billion in assets under management, the firm said in a statement today.

Ex-BlueCrest risk chief recruits to hedge fund (Financial News)
Markham Rae, the hedge fund manager set up in 2010 by former BlueCrest Capital Management risk chief Jonathan Martin, has recruited two former BlueCrest staff as partners. Luigi La Ferla, who spent 15 years at Morgan Grenfell and its subsequent parent Deutsche Bank during the 1980s and 1990s, joined Knightsbridge-based Markham Rae as a partner at the end of last month, according to the Financial Services Register. La Ferla was most recently a partner at World Trade Capital Partners, a venture set up in September 2012 to encourage broader investment in traditional bank businesses such as trade finance. Its regulatory authorisation with the Financial Conduct Authority ceased in February this year.

How piggybacking Peltz has paid off (CNBC.com)

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

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!