Hedge Fund News: George Soros, Mitchell Julis, Blackstone Group(BX)

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SOROS FUND MANAGEMENTBillionaire George Soros visits Vietnam (VietnamNet)
Appearing at a famous restaurant in Hanoi on the evening of December 26, the legendary billionaire casually dressed in a dark suit with a white shirt. Many people realized George Soros, who is known as one of the wisest investors, did not miss the opportunity to take photos with him. As one of the people who took photos with the 82-year-old billionaire that evening, Alpha Books CEO Nguyen Canh Binh wrote onhis facebook: “Tonight I accidentally and fortunately met and talked for two hours with George Soros.” During the meal, the 12th richest American told many stories about famous people in the United States as President Obama and billionaire Warren Buffett.

Porsche faces more VW lawsuits after court win (Reuters)
Porsche SE shares surged on Friday after it won a dismissal of a U.S. lawsuit by 26 hedge funds, one of several legal actions over its purchase of shares in Volkswagen, Europe’s largest carmaker. Posche shares were trading 6.3 percent higher at 1009 GMT, but analysts warned the German company’s triumph in court hinged on a legal formality rather than the substance of the case. On Thursday, a five-justice panel of the New York State appeals court in Manhattan found Porsche had established that the state was the wrong place in which to bring the lawsuit.

Blackstone sticking with SAC despite insider trading probe (LiveMint)
One of hedge fund billionaire Steven Cohen’s largest outside investors, private equity firm Blackstone Group LP, appears inclined to keep its money with his SAC Capital Advisors LP, even as the US government scrutinizes the fund in its ongoing insider trading probe. Three people familiar with the matter said the asset management arm of The Blackstone Group L.P. (NYSE:BX), which has $550 million invested with SAC Capital, is in no rush to redeem money from the Stamford, Connecticut-based hedge fund. Blackstone has had at least three discussions with the $14 billion hedge fund’s executives about the insider trading investigation and talked to its own investors, which include state pension funds, endowments and wealthy individuals.

Why You Should Be Skeptical About Hedge Fund Managers (DailyFinance)
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Simple Alternatives Celebrates Three-Year Anniversary; Continued Growth in Assets Under Management (Sys-Con)
Simple Alternatives, LLC, a pioneer in the mutual hedge fund of fund space, celebrates their third anniversary since inception. “Three years ago we embarked on a vision that there’s a better way for investors to gain access to a diverse portfolio of premium hedge fund managers,” said James K. Dilworth CEO and founder of Simple Alternatives. “Our goal was to deliver the benefits of hedge fund strategies with daily liquidity, and better transparency.(1) Simple Alternatives dedicated pursuit of this vision and early acceptance by independent advisors has made access to institutional-caliber alternative investment strategies attainable for more investors.”

Houston energy hedge fund raised $7.6M from certain investors (BizJournals)
RVI Partners LP, a Houston energy hedge fund that trades commodities, has raised $7.62 million from certain investors since it launched in March 2011, documents filed with the U.S. Securities and Exchange Commission show. The hedge fund indicated in the filing that its base of investors who invested funds directly into the fund has increased from 15 at the time it launched to 27 as of Dec. 26. But overall, the hedge fund has $73 million in assets under management and managed fund accounts, which typically come from larger institutional investors, said Wayne Penello, an executive with the hedge fund.

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