Hedge Fund News: Einhorn, Ambrosiadou, Paul Tudor Jones

Japan Tobacco Management Criticized by Fund, FT Says (Bloomberg/FT)
The Children’s Investment Fund Management UK LLP sent a letter to Japan’s finance ministry saying Japan Tobacco Inc.’s management is “destroying shareholder value,” the Financial Times reported today, citing the letter. The hedge fund, known for its fight to force change at Japanese utility Electric Power Development Co., said the value of the Finance Ministry’s 50.01 percent stake in Japan Tobacco could be doubled to $40 billion with better capital management, the newspaper reported.

IKOS’s Ambrosiadou to Appear at Hedge Fund Gala Amid Husband’s Spy Claims (Bloomberg)
IKOS Asset Management Ltd.’s Elena Ambrosiadou has a knack for attracting attention. Once labeled the U.K.’s highest-paid woman, Ambrosiadou has spent three weeks fending off spying allegations and claims by her estranged husband that he still owns a stake in the $2.5 billion hedge fund. She’ll be hard to miss tonight at one of London’s biggest annual charity events: she has paid for two tables at the Absolute Return for Kids dinner, according to her spokesman. ARK says tables cost a minimum of 100,000 pounds ($164,070) each. She’s also agreed to auction off a week aboard her 289-foot Maltese Falcon, which she bought in 2009 for about $120 million.

Avenue Cap, others eye sale of 30% stake in Indonesian bank (Reuters)
New York-based Avenue Capital, one of the world’s largest hedge funds, with a 19.4 percent stake in the bank, as well as Harmony Capital Partners, an Asian-focused private equity firm founded by former Merrill Lynch banker Suresh Withana, with a 3.8 percent stake, are among investors that plan to sell their stake, the sources said. Avenue, Harmony and Dubai Ventures, part of Dubai Group, bought a 34.6 percent stake in Mayapada bank in 2007 for about $60 million. Dubai Ventures sold its stake in 2010.

GREENLIGHT CAPITAL David Einhorn

May’s market rout hurts many hedge fund managers (Reuters)
John Paulson, whose calls have been among the market’s most closely watched ever since he made a fortune betting against the housing market, said his Advantage Plus fund lost 6 percent. For Paulson, long-standing bets on financial institutions like Citigroup (C) and Bank of America (BAC) brought down returns. Paul Tudor Jones, popular for his string of strong performances, saw his BVI Global Fund lose 3.4 percent last month. And David Einhorn, who made headlines last month with plans to become a minority owner of the Mets baseball team, reported a 0.00 percent return in May, leaving the Greenlight Capital Offshore fund down 2.32 percent for the year.

Ramius Alum Tees Up Equity Fund (HF Alert)
Josh Fischer, whose resume includes stints at Ramius Capital and SAC Capital, is set to launch a hedge fund on July 1 with more than $30 million.
Duquesne Capital alumnus Michael Perl began trading last month with about $150 million at his recently formed Harbor Bridge Capital of New York.

Looking Back at Third Point’s Surge (AR Alpha)
One year ago AR profiled $1.8 billion Pine River Capital Management, which was founded in a rural Minnesota cabin in 2002 with $5.3 million. Pine River has since flourished, growing to $4.4 billion as of May. The flagship multistrategy vehicle, Nisswa Fund, is up 8.32% through May.
Five years ago Steve Bardack, a senior technology analyst at Canyon Capital Advisors, left the $8.1 billion Los Angeles hedge fund shop to start technology long/short equity firm Strata Capital Management. Since inception, the flagship Strata Fund has produced a net annualized return of 7.08%

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 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

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands 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!