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

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

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!