Hedge Fund News: George Soros, Christopher Hansen & Highbridge Capital Management

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Balls On George Soros’s Ex-Girlfriend Significantly Bigger Than Previously Thought (DealBreaker)
From 2006-2011, former soap opera star Adriana Ferreyr was the “on-again, off-again” girlfriend of hedge fund manager George Soros. As the story goes, toward the end of their relationship, Soros promised Ferreyr her “dream” apartment on East 85th Street, broke up with her a day after the place went into contract, texted her “what are you up to?”1 one night a few weeks later, and then, after going over to her place to “reconcile,” whispered in her ear that he’d given her apartment away to another woman (who would later become his wife). Since then, Ferreyr has demonstrated time and time again that she’s packing a serious pair, but no more so than today.

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SEC: Investment advisers, attorney misused money (PalmbeachDailyNews)
The Securities and Exchange Commission has charged Palm Beacher Albert Hallac, founder of Weston Capital Asset Management LLC of West Palm Beach, with illegally draining more than $17 million from a hedge fund his firm managed. The suit, filed Monday in U.S. District Court, Southern District of Florida, against Hallac, 76, and his firm names his son, Jeffrey Hallac of West Palm Beach, and Weston’s general counsel, Keith Wellner of New York City, as relief and co-defendants, respectively.

Everybody Loves Hedge Funds, Assets Hit Record $3 Trillion (Forbes)
Love ‘em or hate ‘em, the world of hedge funds is only getting bigger. The industry saw assets surpass $3 trillion in May for the first time ever. That’s according to hedge fund database, eVestment, which notes the new record exceeds the asset peak from 2008. It’s been a particularly strong year for hedge funds. In May alone, $22 billion of new capital was added bringing year-to-date flows to $93.3 billion. That’s the strongest start to a year since 2007. The industry’s growth is part of a larger trend since the financial crisis that involved hedge funds changing the way they ran their firms.

Tiger Grandcub Valiant Capital Reverses Losses, at Least for Now (InstitutionalInvestorsAlpha)
Has Christopher Hansen‘s Valiant Capital Management gotten back on track after an ugly rough patch that began a year or so ago? The short answer is, perhaps. The San Francisco-based manager – known as a Tiger Grandcub because Hansen previously worked for seven years at Tiger Cub John Griffin’s New York-based Blue Ridge Capital – is up more than 6 percent this year in his flagship fund after posting a gain of 10.65 percent in May. (So-called Tiger Cubs are managers who worked for Julian Robertson Jr.’s legendary Tiger Management Corp.)

A Look At Hedge-Fund-Style Mutual Funds (FA-Mag)
Build a better mousetrap, and the world will beat a path to your door. For investment firms, the “better mousetrap” is a fund that has appeal because it promises a good return without exposing the customer to more risk than he can bear. For more than a decade, contenders for the “better mousetrap” designation have included mutual funds that use hedge fund strategies. Such funds seemed to offer the best of both worlds: hedge-fund-like diversity and ability to adapt to different market environments without costing as much to participate. And they have the liquidity and transparency (investors can see how and where their money is invested) of mutual funds.

Investors manic for ‘disrupter’ stocks (FT)
Euphoria is a typical late-cycle signal. Investors throw caution to the wind and try to maximise upside returns. Pension funds overweight equities at the expense of prudent asset allocation, individual investors rush into hot equity mutual funds, Wall Street’s strategists recommend overweighting equities and hedge funds lever long positions substantially. We can find no data that conclusively support the notion that the US stock market is in such a euphoric stage. Credit Suisse Group AG (NYSE:CS) data indicate US pension funds have among the lowest equity allocations in more than 30 years and remain focused on alternatives rather than conventional equities.

Diversifying portfolio key for hedge funds: Pro (CNBC)

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