Hedge Fund News: Daniel Och, Thomas Steyer & Avenue Capital

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Billionaire Dan Och’s Hedge Fund Firm Is Getting Really Big (Forbes)
Billionaire hedge fund manager Dan Och has not been impressing Wall Street with fantastic returns in recent years, but he has been excelling at another key aspect of the hedge fund game: raising money from outside investors. Depending on how one views the assets of the largest hedge fund firms, an argument can be made that Och is now the world’s second-biggest hedge fund manager.

Och-Ziff Capital Management

Waterfall Launches Offshore Funds (Finalternatives)
Waterfall Asset Management, the $2.9 billion New York-based credit hedge fund, has launched a pair of Caymans-based funds. The firm has raised $220 million for the Waterfall Sandstone Fund and $71 million for the Waterfall Olympic Offshore Fund, the latter of which carries a $100,000 minimum investment, according to regulatory filings.

Billionaire Tom Steyer Devotes Extra Greenbacks To Green Candidates (JewishBusinessNews)
Tom Steyer is giving more green for green politics, as he sets his eyes on the Washington State elections and crucial environmental legislation. He has already entrustd $750,000 in a spending match to attempt to de-seat Florida governor and climate change denier, Rick Scott. Now Steyer and his environmental organization, NextGen Climate, is aiming for victories in 3 to 4 campaigns in Washington State. Currently, the Democrats are just 2 seats shy of a crucial majority needed to push cap and trade legislation with the aim of reducing carbon emissions.

1,400 Hedge Fund Leaders Expected At The 2014 Rocktoberfest (HedgeCo)
A Leg To Stand On (ALTSO) is hosting their 11th Annual Hedge Fund Rocktoberfest – NYC at Capitale on October 22nd and our 3rd Annual Rocktoberfest – Chicago at City Winery on October 8th. ALTSO is a registered 501(c)3 non-profit that provides free orthopedic care – prosthetic limbs, orthotic devices, mobility aids, corrective surgery and physiotherapy – to children with limb disabilities in the developing world as a means of fulfilling its mission to offer such children the physical capabilities needed to access the opportunities and self esteem earned through education, work and mobility.

Suddenly, Bill Ackman Isn’t Doing So Bad On Herbalife (BusinessInsider)
Shares of Herbalife Ltd. (NYSE:HLF) slipped below $50 on Wednesday morning. That means hedge fund manager Bill Ackman, who runs Pershing Square, could be getting closer to breaking even on his infamous short. It’s believed that Ackman shorted Herbalife in the mid-$40s. (In October 2013, he repositioned about 40% of his equity short position.) The stock has dipped as low as $48.92 so far today. That’s also a 52-week low.

Hedge Funds Betting Against Banco Espírito Santo in Line for Big Gains (WSJ)
A handful of hedge funds may have made tens of millions of dollars on the collapse of troubled Portuguese lender Banco Espírito Santo SA BES.LB -40.30%. One of the biggest funds to bet the bank’s shares would fall was Marshall Wace LLP, which initially made the wager on May 15, according to a filing with the Portuguese regulator. The shares were then trading at around 99 euro cents. The London-based hedge fund would have made a profit of around €27 million ($36 million) from the position if it closed the position at 12 cents, the price when the shares were suspended.

All about geopolitics: Trader (CNBC)

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