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Hedge Fund News: Anthony Scaramucci, Jana Partners, Anchorage Capital

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Anthony Scaramucci On Turning Failure Into Success (Reuters)
When hedge-fund king Anthony Scaramucci left Lehman Brothers in 2005 to start SkyBridge Capital from scratch, a few people thought he was nuts, including his own daughter. Fast forward to today: Lehman Brothers went bust, SkyBridge has $12.3 billion under management, and Scaramucci has a new book coming out at the end of October, “Hopping Over the Rabbit Hole: How Entrepreneurs Turn Failure Into Success.” For the latest in Reuters’ “Life Lessons” series, Scaramucci sat down to talk about his own unique money journey.

Barry Rosenstein - Jana Partners

Activist Jana Partners Stocks Up On HD Supply Shares (Reuters)
Activist investor Jana Partners LLC disclosed an 8.1 percent stake in HD Supply Holdings Inc, and said it had held discussions with the company’s management about possible strategic options. HD Supply, the industrial product distributor that separated from parent Home Depot Inc in 2007 under pressure from a different activist investor, saw its stock rise 3 percent to $33.11 on Thursday. Jana, which owns $449 million worth of HD Supply’s shares, is one of the largest U.S. activist investors, with $9.9 billion in assets. The New York-based firm has taken on companies such as chip-maker Qualcomm Inc and packaged food maker ConAgra Foods Inc.

Hedge Fund Anchorage Capital Seeks Controlling Stake In Ireland’s Eir (Reuters)
The largest shareholder in Irish telecoms firm eir, hedge fund Anchorage Capital Group, plans to acquire additional shares to secure control of the company, according to a regulatory filing published on Thursday. Anchorage held a 36.4 percent share of eir’s parent company Eircom Holdco S.A., according to a filing in June. Ireland’s competition watchdog, the Competition and Consumer Protection Commission, on Thursday said on its web site it had been informed of “the proposed acquisition by Anchorage Capital Group L.L.C. of sole control of Eircom Holdco S.A.”. A spokesman for eir declined comment on whether Anchorage would require over 50 percent ownership to secure control over voting rights.

So Platinum Partners Maybe Defrauded An Energy Company All The Way To Bankruptcy Court (DealBreaker)
One day, the morality play that is Platinum Partners will come to an end. From its high-flying, 650%-returning-on-controversial-energy-investments days to its current embroiled-in-a-pay-to-play-scandal, attempting-to-prove-it-still-has-a-nickel-in-the-bank, getting-raided-by-the-FBI, barely-solvent bankruptcy present, the whole sorry tale will be history. And wouldn’t it be perfectly fitting for this Shakespearean drama to end with our protagonist finally felled by that with which it made its name in the first place?

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