Hedge Fund News: Crispin Odey, Peter Kolchinsky & T Boone Pickens

Page 1 of 2

Manchester United Divides Hedge Funds’ Loyalties (WSJ)
Some of Europe’s most powerful hedge fund managers are sharply divided on the outlook for English soccer club Manchester United PLC (NYSE:MANU) -0.17%, whose share price has declined recently along with its on-field performance. One of the most prominent to hold a negative bet is U.K.-based Odey Asset Management, which is headed by investor Crispin Odey and runs around $12.2 billion. It has been betting on the share price’s falling since shortly after the initial public offering of Manchester United in 2012 and says the shares are overvalued.

Crispin Odey

Farmers Sue Hedge Fund Over Guar (Finalternatives)
A group of Texas farmers has sued a New York hedge fund, accusing it of defrauding them. The guar growers filed five countersuits against Scopia Capital Management, alleging that the hedge fund and West Texas Guar conspired to not pay the 285 farmers for their crop last year. Scopia is West Texas Guar’s top shareholder, and alleges that the company failed to repay a $6 million loan made in 2012. West Texas Guar has since filed for bankruptcy. A federal bankruptcy judge in May approved a settlement granting the farmers 75% of their claims.

BlackRock Hedge Selector Reports Net Asset Value Per Share Drop (ISE)
BlackRock Hedge Selector Ltd Thursday said its UK Emerging Companies Share Class net asset value fell by 7.7% over the six months to end-June, including all ongoing expenses with ongoing charges of approximately 0.8% per year, reflecting the underlying performance of the UK Emerging Companies Hedge Fund, which fell by 7.3%. The company’s share price fell by 5.4% over the same period. The FTSE 100 Index, meanwhile, rose by 1.9% over the period, the FTSE Small Cap Index increased by 1.5% and the FTSE All-Share Index by 1.6%. In contrast, the Numis Smaller Companies plus AIM (excluding investment companies) Index fell by 0.8% and the FTSE 250 Index remained flat, the company said.

Hedge funds buying Yahoo stocks ahead of Alibaba IPO (Opalesque)
Several hedge funds are buying large shares of Yahoo! Inc. (NASDAQ:YHOO) ahead of the planned initial public offering (IPO) of Chinese e-commerce giant Alibaba. Ken Sawyer, managing director of Saints Capital, said that Yahoo, which owns 23% of Alibaba and is a public investor of the Chinese website, has placed a discount on whether a holding company is worth the sum of the value of its parts. Sawyer was quoted by USA Today as saying, “Some guys think there might be 15% or 20% in Yahoo, if Alibaba’s investment bankers can sell the offering at the top of its range or — as Facebook Inc (NASDAQ:FB)‘s did — even higher. It’s an (arbitrage) play between public and private markets.”

Achillion Pharmaceuticals Inc. (ACHN): RA Capital Management Cuts Stake To 19.0% From 21.1% (InsiderMonkey)
RA Capital Management, led by Peter Kolchinsky, disclosed in a newly amended filing with the U.S. Securities and Exchange Commission that it further reduced its exposure to Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). The filling showed that the hedge fund unloaded around 2.71 million shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). Following the sale, RA Capital owns 18.54 million shares of the company, the stake being equal to 19.0% of common stock outstanding.

Hedge Fund To Add Member To American Apparel Board (Finalternatives)
Lion Capital Management may not be an investor in American Apparel Inc (NYSEMKT:APP) anymore, but it still wants a seat on its board. The hedge fund, which pushed the struggling retailer into a cash crunch last month when it called in a $10 million loan, still owns warrants to take a 12% stake in the company—and the right to appoint two board members. And it told the firm that it plans to appoint former Rupari Food Services CEO Robert Mintz to join the seven other directors of the newly-reconstituted board.

Top picks at US open (CNBC)

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

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

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

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!