David Tepper Flies High With Airline Stocks And Hamptons Parties (JewishBusinessNews)
Summer for the well-heeled means posh, star-studded parties at the Hamptons, many for good causes, and the better the causes, the more high-profile the guests. When not making successful trades for his hedge fund, head of Appaloosa Management, Tepper was attending various functions including a Party for Pink, the Breast Cancer Research Foundation and a benefit for the Apollo Theater in Harlem. Tepper was seen schmoozing with Richard Perry as Taylor Dayne sang “Prove Your Love,” before talking about bike trips with Goldman Sachs Group, Inc. (NYSE:GS) president Gary Cohn and going to Ron Perelman’s estate in East Hampton.
SEC publishes Form PF data (COOConnect)
Private funds’ Regulatory Assets under Management (RAuM) totals $8.8 trillion, of which hedge funds and private equity vehicles comprise $4.04 trillion and $1.9 trillion respectively, according to the Securities and Exchange Commission’s (SEC) annual report summarising all of its Form PF data. This represents an increase from $7.3 trillion in May 2013. The SEC data said there were 2,661 advisers submitting Form PFs.
Caxton Cuts Currencies (Finalternatives)
Brevan Howard Asset Management isn’t the only global macro hedge fund shying away from currency trading in the face of poor performance. Caxton Associates has also cut its exposure to foreign exchange after posting losses in each of 2014’s first six months—just like Brevan Howard. And like Brevan Howard, the changes appear to be working, as Caxton posted its first gain of the year in July. The US$8 billion firm is now down about 5% on the year.
Paulson Buys Puerto Rico Office Building (Finalternatives)
Paulson & Co. is boosting its exposure to Puerto Rico, buying its first commercial property on the financially troubled island. The New York-based hedge fund has bought a 16-story office building in the U.S. territory’s capital, San Juan. The 326,000-square-foot space in San Juan’s financial district, Hato Rey, was formerly owned by insurer American International Group, Inc. (NYSE:AIG), and is known as American International Plaza.
One third of Asian hedge funds headquartered in China (Opalesque)
China continues to the preferred location of Asian-focused hedge fund firms with approximately one-third of firms headquartered in China. Other popular Asian firm locations include Singapore with 11.4%, followed by Australia and Japan with 5.6 and 4.3%, according to the latest HFR Asian Hedge Fund Industry Report, released by analysis and research HFR. Asian hedge funds assets surged in the second quarter of this year to $116.7bn, the third consecutive quarterly record for the Asian hedge fund industry…