Hedge Fund News: Jim Simons, Feroz Dewan & Soros Fund Management

Page 1 of 2

Simonses give $50 million to Cold Spring Harbor lab (NewsDay)
Long Island hedge-fund investor James Simons and his wife have given $50 million to the Cold Spring Harbor Laboratory to establish a center that uses quantitative tools to understand fundamental biology, including studying disease and illness, the lab said Monday. The Simons Center for Quantitative Biology will support research and education programs, bringing together “experts in applied mathematics, computer science, theoretical physics and engineering to further basic research and investigation into illnesses including cancer, autism, bipolar disorder and depression,” the lab said in a news release.

RENAISSANCE TECHNOLOGIES

Ackman’s Hedge Fund Offers Slate of Directors for Botox Maker Allergan (NYTimes)
Pershing Square Capital Management unveiled a proposed slate of directors that it hopes to elect to the Allergan, Inc. (NYSE:AGN) board. Pershing Square, which is working with Valeant Pharmaceuticals Intl Inc (NYSE:VRX) on a $53 billion hostile bid for the Botox maker Allergan, is still working to secure enough shareholder support to call a special meeting. Should the meeting be called, Pershing Square, which owns about 10 percent of Allergan, will attempt to dismiss without cause six existing board members, and elect six new ones. The proposed slate includes executives with varied backgrounds.

Soros Fund sued by former portfolio manager (Reuters)
A former portfolio manager at Soros Fund Management sued the hedge fund firm founded by billionaire George Soros for nearly $20 million, accusing it of reneging on promises to pay him performance and other fees. Aaron Cowen was employed by Soros Fund Management, which manages Soros’ money, from November 2010 through July 2011, according to the lawsuit, filed July 3 in New York state court in Manhattan. Cowen claims he was fired without cause, that he never received performance and management fees due him, and that the firm’s refusal to pay and provide his track record has hampered his ability to raise capital to start a new fund.

Why Billionaire Leon Cooperman’s Large Stake in Chimera Investment Corporation Isn’t a Good Reason t (DailyFinance)
Despite a litany of problems at Chimera Investment Corporation (NYSE:CIM), the high-yielding mortgage REIT has nevertheless caught the eye of hedge-fund billionaire Leon Cooperman. In the last few years, the renowned investor has accumulated over 66 million shares in Chimera, equal to 6.44% of its outstanding share count. Before calling your broker and following suit, however, I’d advise you to keep two things in mind. First, Chimera is a highly speculative stock that remains mired in an accounting debacle dating back to its inception as a publicly traded company. And second, Cooperman’s resources give him an edge that simply isn’t available to the average investor.

PetSmart Shareholder Longview Joins Jana Calling for Sale (BusinessWeek)
PetSmart, Inc. (NASDAQ:PETM) investor Longview Asset Management LLC joined hedge fund Jana Partners LLC in calling for the pet-supply retailer to consider a sale. PetSmart would be more highly valued by private holders than investors in public markets, and a sale would prevent a protracted activist battle that would distract executives and erode value, Chicago-based Longview said today in a letter included in a securities filing. Longview said its clients own about 9 percent of the company’s shares and would consider contributing some or all of their stock into a deal.

Box raises $150 million as it puts off IPO (CNBC)
The online storage start-up Box can put off its IPO for a bit longer. The company has raised $150 million in funding from the hedge fund Coatue Management and the private equity firm TPG, according to a Wall Street Journal report. The funding values Box at about $2.4 billion, slightly more than the company’s valuation in December of $2 billion. Box publicly filed for its IPO in March, but delayed its plans after tech stocks took a hit in April this year. According to the report, the company will go public sometime after Labor Day.

Hedge funds: Who’s delivering? (CNBC)

Page 1 of 2
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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

The 15 Most Murderous Countries in the World

10 Largest Colleges in the World: Bigger Isn’t Always Better

Comedians in Cars Getting Coffee: The 6 Comedians Seinfeld Needs to Interview

Easy Money: The 10 Most Successful Investors in the World Today

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!