Hedge fund nearly doubles Delek stake (NashvillePost)
A $4.7 billion hedge fund manager run by a disciple of legendary investor Julian Robertson has in recent weeks substantially increased its stake in Delek US Holdings, becoming the second outside investor to own at least 5 percent of the local company. New York-based Steadfast Capital Management on Monday filed papers with the Securities and Exchange Commission saying it owned 3.7 million shares of Delek as of June 25. That amounted to 6.2 percent of Brentwood-based Delek, which runs refineries in Texas and Arkansas and owns the Mapco chain of gas stations, and was up from just 1.9 million shares at the end of March.
New Jersey plans hires in alternatives investments (Reuters)
The New Jersey Division of Investment plans to hire up to three senior investment professionals for its alternative investments team, and may hire money managers to run additional separate accounts, Director Chris McDonough told Reuters Buyouts Magazine. The professionals would be tasked with helping to manage the $79 billion pension system’s private equity, real estate, real assets and hedge fund portfolios. Duties include sourcing investments, performing manager due diligence, negotiating partnership agreements, managing relationships with outside consultants and presenting recommendations to the New Jersey State Investment Council, according to a job description.
Ex-Trader Spurns Hedge Funds to Market Coconut Water (Bloomberg)
When former hedge-fund trader Jane Gottschalk went back to work in Hong Kong after having five children, the finance world wasn’t her top pick. Her more-dynamic choice: coconut water. Jing Holdings Ltd., the company she founded with her husband and two Hong Kong-based businessmen, attracted Elton John as a shareholder and now sells its Jax Coco brand of coconut water in 30 markets worldwide. After debuting in June 2012 in London’s Harvey Nichols department store and Hong Kong’s City’ supermarkets, Jax Coco can be found in Whole Foods Market, Inc. (NASDAQ:WFM) in the U.S., the first-class lounge of Eurostar trains, a Nobu restaurant in London and the Upper House, Peninsula and Four Seasons hotels in Hong Kong.
How To Invest With A Rothschild – In Iraqi Oil (Forbes)
Whether there is war or peace in Iraq, whether the country holds together or falls apart, the oil will flow. If you want to take a flyer on your own little piece of the future of Iraqi oil, the stock to buy is probably Genel Energy. The company has the highest production volumes and arguably the best oilfield assets in the Kurdish Region of Iraq. And its prospects are protected not just by the loyal peshmerga forces of the Kurdish Regional Government, but also by a robust safety net of international business giants. Genel’s big backers are banking scion Nathaniel Rothschild and Turkish billionaire Mehmet Emin Karamehmet. The company’s CEO is Tony Hayward, the former head of BP , who also happens to be chairman of commodities giant Glencore PLC. Genel’s CFO used to be the head of U.K. investment banking for Goldman Sachs Group, Inc. (NYSE:GS).
Hedge Fund Survey: 2013 Showed Record Fund Launches (HedgeCo)
Morningstar and Barron’s today released highlights of their eighth annual national survey examining the perception and usage of alternative investments such as hedge funds among institutions and financial advisors. “Mutual funds continue to grow as the vehicle of choice for accessing alternative strategies. 2013 marked the strongest asset flows into alternative funds and the largest number of fund launches on record,” Josh Charlson, director of manager research, alternative strategies, said. “For the fourth year in a row, long-short strategies garnered the most interest, but growing apprehension toward the bond market has also contributed to blistering growth in nontraditional bond funds.”