Hedge Fund News: Harbinger, Eton Park, George Soros

Falcone’s Harbinger Lost 19.5% in Illiquid Fund (Bloomberg)
Harbinger Capital Partners LLC, the hedge-fund run by billionaire Philip A. Falcone, lost 19.5 percent last year in a pool of hard-to-sell assets that it’s divesting, according to a letter sent to investors this week. Falcone also told clients in a separate letter this week that the so-called side-pocket would be paying $45 million to settle a civil suit involving Spectrum Brands Holdings Inc., one of the companies in the pool, said an investor who asked not to be named because the fund is private.

HARBINGER

Eton Park Considers New Emerging Markets Fund (AR-Alpha)
Eton Park Capital Management is considering whether to launch an emerging markets fund to co-invest alongside its main funds, according to the firm’s 2010 yearend investor letter. “We are excited about our pipeline of emerging market private investments, an area in which we believe we have a significant competitive advantage,” the firm said in the January 18 letter. “We continue to actively pursue these investments and in 2011, expect to further build our team focused on these opportunities.”

Capula Hired As Wisconsin Pension’s First Hedge Fund (FinAlternatives)
Wisconsin’s top public pension fund has made its first investment in a hedge fund, allocating $100 million to Capula Investment Management. …Wisconsin picked Capula’s GRV Fund, which “invests in fixed-income and currency arbitrage and relative-value opportunities in the most liquid G3 companies,” the spokeswoman, Vicki Hearing, said.

Hedge Fund Startups (Bloomberg)
Hedge-fund startups are slowing as institutional investors favor larger managers and regulators increase oversight of the industry, according to Citigroup Inc. “We are seeing the larger funds getting larger and less of the startup spirit that really typified the hedge fund industry five to 10 years ago,” said Nick Roe, London-based global head of prime finance at Citigroup. “A continuation of institutional flows and increased regulation in international markets are making the traditional entrepreneurial hedge fund startups more difficult.” The number of new hedge funds worldwide declined to about 150 in the fourth quarter, from almost 250 a year earlier, according to a February report by Singapore-based Eurekahedge Pte. More than 80 percent of the $55 billion put into hedge funds last year went to those with more than $5 billion, Chicago-based Hedge Fund Research Inc. said in January.

Soros Returned 2.63% in 2010 (II Magazine)
George Soros’s Quantum Endowment Fund last year turned in its worst performance in nine years. The nearly $28 billion fund gained a measly 2.63 percent, its skimpiest gain since it lost 1.72 percent in 2002. In recent interviews with Bloomberg and CNBC, the 80 year-old Hungarian has gone out of his way to distance himself from last year’s results, stressing he is now retired. For the past three years, BlackRock co-founder Keith Anderson has served as chief investment officer. It is not clear what bets contributed to Quantum’s small gain last year.

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

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!