Hedge Fund News: Bill Ackman, Carl Icahn & Ken Griffin

Page 1 of 2

Ackman’s Pershing Sells Rest of General Growth Properties Shares (BusinessWeek)
Bill Ackman, the activist hedge-fund manager, sold all of his shares in General Growth Properties Inc (NYSE:GGP), one of his most profitable investments. General Growth, the second-largest U.S. shopping mall owner, bought back about 28 million shares from Ackman’s Pershing Square Capital Management LP for $556 million, the company said today in a statement. The hedge-fund firm had sold another 25 million shares for $500 million in September. Ackman helped rescue General Growth from near-collapse by pushing it to file for bankruptcy in 2009, and was part of an investor group in its subsequent restructuring…

Bill Ackman in crowd

Icahn gives up Apple buyback plan after ISS urges ‘no’ vote (Reuters)
Billionaire activist investor Carl Icahn has backed off from his campaign urging Apple Inc. (NASDAQ:AAPL) to increase its stock buybacks, citing the company’s recent repurchases as well as an influential proxy adviser’s call against his proposal. In a letter to Apple shareholders on Monday, Icahn wrote he was ditching his non-binding proposal to force Apple to add another $50 billion to its stock buyback plan, “especially when the company is already so close to fulfilling our requested repurchase target.” Apple shares closed up 1.8 percent higher at $528.99 on Monday.

Poor Banks Can’t Compete With Hedge Funds in Hiring (BusinessWeek)
Another day, another handful of traders fleeing large investment banks for hedge funds. This time, Bloomberg News reports, it is two Goldman Sachs Group, Inc. (NYSE:GS) managing directors joining Citadel, Kenneth Griffin’s giant hedge fund, which is based in Chicago. Uberto Palomba, co-head of Goldman’s emerging markets trading, and Jonathan Tipermans, Goldman’s head of dollar-swaps trading, will be working for Citadel’s Global Fixed Income Fund, a unit that was started in 2008 and has been picking off seasoned bank veterans ever since.

Acquisition International Magazine’s International Hedge Fund Awards Selects Caissa as “Most Trusted Financial Risk Management Software” (SacBee)
Caissa, LLC has been named the Most Trusted Financial Risk Management Software in the annual International Hedge Fund Awards announced this week. Winners were selected by Acquisition International Magazine. Their readership includes institutional investors as well as managers and other industry professionals. Caissa, LLC works with institutions now representing in excess of $50B in assets. These allocators leverage Portfolio Navigator’s unparalleled data aggregation capability across all asset classes, investment structures, and transparency granularities, to assess their portfolio’s total strategic positioning in a user-friendly software.

Scout Weighs Dropping Final Fees After Clients Complain (BusinessWeek)
Scout Capital Management LLC, the $6.7 billion hedge-fund firm that is shutting on April 1, said it’s weighing whether to charge clients its management fee for the final quarter after investors complained. The firm, run by James Crichton and Adam Weiss, told clients Jan. 29 that it was closing because Weiss wanted to step back from managing outside capital. Scout said more than 80 percent of the portfolio was in cash, and the rest in easy to trade securities. Some clients have since objected to paying a management fee for the current quarter, given the high cash level in January and the fact that some investment staff had already left.

Icahn: No reason to persist with share buyback (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

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

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways 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

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

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!