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%

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!