Hedge Fund News: Leon Cooperman, Paul Singer & Louis Bacon

Page 1 of 2

Chatham, Cooperman offer to buy American Media (TheDeal)
One of American Media Inc.’s largest second-lien noteholders and hedge fund investor Leon Cooperman have entered into a non-binding letter of intent to take over the magazine and tabloid publisher, according to a source familiar with the situation. The source said the buying group includes hedge fund Chatham Asset Management, which owns American Media second-lien debt; Cooperman, the CEO of Omega Advisors Inc.; and Cooperman’s Omega Charitable Partnership. The beleaguered publisher of titles such as the National Enquirer, Star, Shape, and Men’s Fitness revealed Wednesday that it had entered into a non-binding LOI for a takeover that would provide much-needed liquidity. But it didn’t name who was in the buying group.

Leon Cooperman Omega Advisors

Fund Focus: Don’t Call K1T Capital A ‘Trend Follower’ (Finalternatives)
You may call K1T Capital many things—systematic, quant-based, hedge fund—but don’t call it a trend follower: “We exploit periodic cyclicality in financial data series,” CIO Ben Heaton told FINalternatives. “Our trade positioning is counter-cyclical making us an MR (mean reversion) system which is rare amongst algorithmic approaches, the vast majority of which are trend followers. This is a strength for us as it means our returns have low correlation to the crowd.” Added CEO Simon Wajcenberg: “K1T’s edge lies in using scientific research to capture patterns in market behavior that, while hard to discover, do exist and can provide an advantage for those able to exploit them.”

Jersey approves first regulated Bitcoin fund (BBC)
There are a number of businesses in the island that accept Bitcoin as payment A regulated Bitcoin investment fund overcomes anonymity concerns about the virtual currency, says its director. The Global Advisors Bitcoin Investment Fund (GABI) has been certified by the Jersey Financial Services Commission to run from 1 August. Daniel Masters said Jersey’s regulatory system meant major investors, such as pension and insurance companies, could invest in Bitcoin for the first time. The fund will not be open to investments from the general public. Global Advisors is a Jersey-based hedge fund company which usually specialises in commodities such as metals and oil.

Hedge funder to pay $28M for Puck Building condo (TheRealDeal)
Hedge fund manager David Ganek of advisory firm Level Global Investors and his novelist wife Danielle are in contract to buy a penthouse condominium at developer Jared Kushner’s Puck Building in Soho for $28 million. The 6,000-square-foot, three-bedroom apartment is one of six at the penthouse-only building at 295 Lafayette Street. Douglas Elliman brokers Dennis Mangone and Raphael De Niro had the listing, the New York Post reported. The sale was for more than $4,500 per square foot.

BNP Paribas veteran applies algorithms to hedge fund selection process (FierceFinanceIT)
A former head of global prime brokerage at BNP Paribas SA (ADR) (OTCMKTS:BNPQY) has launched an online start-up that uses algorithms to match investors to hedge funds that meet their investment strategies and risk appetites. The service, called AltX, was created by Sam Hocking, CEO and cofounder San Francisco start-up Imatchative. The former global prime broker at BNP and co-head of prime brokerage at Bank of America Corp (NYSE:BAC) says the idea for the service came from seeing firsthand investors who were mismatched for the funds in which they were invested. Hocking gathered a team of academics and capital market professionals to develop the algorithms for hedge fund selection using combinations of behavioral and financial data.

Can Paul Singer Collect His Billions from Argentina? (JewishVoiceNY)
Since Argentina’s record default over a decade ago, they have been dodging payments of billions of dollars in foreign debts. Their time with creditors is finally running out, and it is time for Argentina to resolve its international financial battles. …Left from Argentina’s 2001 default, this case is over NML and other funds that bought the bonds. Argentina’s government is up against a subsidiary of Elliot Capital Management, which is a group of investors led by NML Capital and managed by billionaire Paul Singer. In the past, the well-trained lawyer, Singer, had won suits forcing the governments of Peru and the Republic of the Congo to pay their bonds.

Portuguese issues impacting hedge funds? (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 Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!