Do You Exhibit Shark Behavior Like David Tepper? (Countingpips)
Meet David Tepper, the world’s greatest investor. He’s the Founder of Appaloosa Management, a hedge fund with roughly $20 billion under management. He also owns a chunk of the Pittsburgh Steelers. While Tepper may look tame in photographs, make no mistake… He’s a shark in the truest sense of the word. Last year, Tepper annihilated his competition to the tune of 42% returns. Over the last five years, he’s generated annualized gross returns as high as 50%. In 2011, Tepper famously bought a $43.5-million beachfront mega mansion in the Hamptons – just so he could tear it down and build a bigger one.
Liquid Holdings joins FIS Group Ecosystem (HedgeWeek)
FIS Group created the Ecosystem to assist talented entrepreneurial portfolio managers in the formation and strengthening of new asset management firms. Funded entirely by revenue generated from FIS Group’s core business and provided at no cost to the managers, the Ecosystem leverages FIS Group’s relationships in the market place to negotiate discounts from shared service vendors and facilitate introductions to potential capital providers. As one of the initial group of 17 select service providers in the Ecosystem, the Liquid platform will be offered as an option to emerging investment managers looking to institutionalise their business while meeting increased investor demands for transparency.
Carlyle ESG Funds Tumble With Wrong-Way Europe, U.S. Bets (Bloomberg)
Emerging Sovereign Group LLC, the $5 billion hedge-fund firm owned by Carlyle Group LP (NASDAQ:CG), posted losses this year in two of its funds after wrong-way bets on emerging markets, Europe’s recovery and U.S. Treasuries. The ESG Credit Macro Event Master Fund fell about 6 percent this year through April 11, according to letters and performance updates obtained by Bloomberg News, after tumbling 18 percent last year. The firm’s ESG Treasury Opportunities Master Portfolio dropped 22 percent in 2014 through the same period after rising 33 percent in 2013.
Activist hedge funds target Europe amid increasing power (Telegraph)
Activist hedge funds have tripled the amount of money under management in the past five years and are aiming their cash piles at Europe, according to research compiled by FTI Consulting and Hedge Fund Research. Such funds managed more than $93bn (£55bn) last year, almost triple that of five years ago and 42pc up from an estimated $65bn in 2012. The overall hedge fund industry is worth around $2.5? trillion. Investors are pouring into activist funds, driven by higher returns of 16.6pc last year on investment which has far outpaced the average hedge fund return of 9.3pc.
Hedge fund gets votes to call special Darden meeting, source says (Orlandosentinel)
Hedge fund Starboard Value has received enough shareholder votes to call a special meeting where Darden Restaurants, Inc. (NYSE:DRI) investors would weigh in on the fate of Red Lobster, a source familiar with the situation said today. Starboard, which owns 5.5 percent of Darden’s stock, is trying to halt Darden’s plans to sell or spin off Red Lobster. It needed holders of at least half of Darden stock to call for the meeting, at which it wants shareholders to cast a nonbinding vote. A spokesman for Orlando-based Darden could not immediately be reached for comment.
Citi Hedge Fund Spin-Off Hires CDO Expert (Finalternatives)
Citigroup Inc (NYSE:C)’s former hedge fund unit has hired a collateralized debt obligation specialist at its London office. Maxine Malaure joined Napier Park Global Capital earlier this month. He is the firm’s first hire in the U.K. in almost two years; Napier Park’s London office has lost nearly half of its staff over the past 12 months. Malaure moves to Napier Park from Commerzbank, where he was a member of its structured products desk. He formerly worked at Bear Stearns and Dresdner Kleinwort. Napier Park spun-off from Citi early last year.
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