Hedge Fund News: Peter Thiel, FrontPoint, Investing In Egypt

Peter Thiel Hits Rock Bottom (II Magazine)
It’s an old tale given a new twist by the Internet: Great entrepreneurs don’t always make great investors. Peter Thiel was a co-founder of PayPal and an early backer of Facebook. Yet his once-promising San Francisco–based global macro hedge fund, Clarium, which at its peak in 2007 had $7 billion, is reportedly down to about $500 million, most of it Thiel’s own wealth. Clarium lost 23 percent in 2010. …He recently became a seed investor in Grandmaster Capital Management, a hedge fund firm founded last month by former Clarium Capital Management managing director Patrick Wolff.

FrontPoint completes split from Morgan Stanley (Reuters)
FrontPoint Partners, the $4.5 billion hedge fund ensnared in the government’s insider trading probe, is back on its own after more than four years of living with investment bank Morgan Stanley. …The move allows FrontPoint portfolio managers, including Steve Eisman, arguably the firm’s biggest star who cashed in on anticipating the housing market collapse long before anyone else, to operate more independently. Late last year, FrontPoint’s health care funds were forced to close down after a French physician was arrested and charged in early November with having illegally passed inside information to Joseph Skowron, a FrontPoint manager. Neither Skowron nor FrontPoint have been charged with any wrongdoing. At its peak before the financial crisis in 2008, FrontPoint managed $10 billion.

Investing in Egypt After the Revolution (Reuters)
Ahmed Fattouh, an Egyptian-American investor and chief executive of hedge fund and private equity firm Globalist Capital Management, spoke to Reuters about his thoughts on investing in Egypt after political turmoil. Fattouh, whose firm has offices in New York, London and Dubai, oversees about $300 million in assets and has been investing in the Middle East since 2005. He visited Cairo and Tahrir Square in the past few weeks and shared his thoughts. “Obviously there are going to be some distressed opportunities and this is a volatile time. The market has been closed for weeks, and obviously when it reopens there will be a good deal of selling pressure. That will obviously create some opportunities in terms of forced sellers and panicked sellers who will not be very focused on the fundamentals.”

JPMorgan Chase & Co (NYSE:JPM)

JPMorgan Prop. Desk To Get $2B In Hedge Fund Transition (FinAlternatives)
JPMorgan Chase will seed its proprietary-trading-desk-cum-internal-hedge-fund with $2 billion.
The figure may be an indication of the big plans the bank has for its transformed prop. desk: Under the same Dodd-Frank law forcing JPMorgan to move the desk to its asset management unit, a bank’s capital cannot make up any more than 3% of the assets of a hedge fund. In order for JPMorgan to keep its investment in the new unit at $2 billion, then, the firm would have to raise nearly $65 billion from outside investors.

Neuberger Berman Adds Kupperman To Funds Arm (FinAlternatives)
David Kupperman has joined New York-based money manager Neuberger Berman Group as a managing director of NB Alternatives Investment Management, the firm’s fund of hedge funds business.
Kupperman will be based in New York and involved in all aspects of the fund of hedge funds investment process.

Centro to Swap Australian Malls for Debt After Blackstone Deal (Bloomberg)
Centro Properties Group has agreed with a majority of creditors to swap debt for its Australian shopping centers after Blackstone Group LP bought the company’s 588 U.S. malls for $9.4 billion. Holders of about 73 percent of Centro’s liabilities agreed to cancel the Melbourne-based company’s senior debt in exchange for the Australian malls. Centro, which had a stock market value of about A$8.5 billion ($8.7 billion) in May 2007, will be left with $100 million to distribute to shareholders and other minority interests after the deal, it said in a statement today.

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

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!