Ackman’s Pershing Square surges in April, beating many rivals (Reuters)
Activist investor William Ackman‘s Pershing Square Capital Management roared ahead in April with the help of a proposed acquisition, leaving his flagship fund up roughly 19 percent for the year, three sources said on Thursday. The $13.6 billion hedge fund’s Pershing Square Holdings fund gained 7.6 percent last month and is now up 20 percent while his flagship Pershing Square LP fund is up 18.7 percent for the year, net of fees.
Loeb Raises Japan Bet as IHI Stake Follows Sony, SoftBank (Bloomberg)
Billionaire Daniel Loeb looks like he’s going to be spending even more time in Japan. Third Point LLC, the hedge fund he founded, revealed a stake in IHI Corp. saying the investors are undervaluing the land and buildings owned by Japan’s biggest plane-engine maker. The announcement followed an investment disclosed in November in SoftBank Corp. and another in Sony Corporation (ADR) (NYSE:SNE) made public in May last year.
Singer Blasts Yellen, Argentina In Latest Letter (FINalternatives)
As usual, Elliott Management’s Paul Singer found plenty to criticize in his quarterly letter to investors. Singer wrote to tell his clients that his Elliott Associates returned just 2.5% in the first quarter. And while he dealt with the fund’s investments in an addendum—Elliott sold off its stake in Delphi Automotive PLC (NYSE:DLPH) — the body of the missive was focused on the flaws of others. Singer mocked Federal Reserve Chairman Janet Yellen as “Yellen the Magnificent,” warning that the Fed “is achieving total political power in a political vacuum, without the accountability of being elected.”
Blue Harbour Group is Bullish on Babcock & Wilcox Co (BWC) and Reports a 6.0% Stake (Inside Monkey)
Clifton S. Robbins‘s Blue Harbour Group is bullish on Babcock & Wilcox Co (NYSE:BWC), reporting an activist 6.0% stake in its latest filing with the U.S. Securities and Exchange Comission. In this way, Blue Harbour currently owns over 6.62 million shares, upping its stake from around 1.1 million shares reported by the fund in its latest 13F. The fund has bought approximately 3.29 million shares for an average price of $33.45 apiece.
JPMorgan’s Poker-Playing Head VIX Trader Jeremy Wien Leaving To Join Och-Ziff (Business Insider Australia)
JPMorgan vice president/head of VIX trading Jeremy Wien is leaving the bank to join hedge fund giant Och-Ziff, according to a memo obtained by Business Insider. At his new job at Och-Ziff, Wien writes that he will be trading the fund’s equity index derivatives book. Wien, 29, joined JPMorgan Chase in March 2012. Prior to that, he worked at hedge fund PEAK6 Investments LP, his LinkedIn profile shows.