Hedge Fund News: Richard Mcguire, John Paulson & Louis Bacon

Page 1 of 2

Marcato Reveals an Activist Stake in Life Time Fitness (InstitutionalInvestorsAlpha)
At the end of the first quarter, Richard McGuire III’s Marcato Capital Management teased investors that among its new positions were two undisclosed stocks that the firm hinted are likely to result in activist campaigns. On Wednesday afternoon investors learned the identity of one of the two stocks. Marcato disclosed it owns 7.2 percent of Life Time Fitness, the high-end — read, expensive — health club and gym chain. Shares of the stock immediately surged more than 12 percent in the final hour of trading after Marcato disclosed the holding and rose another 2 percent or so Thursday morning.

Mick McGuire

Massa Martana to host Umbria Rock Festival (FT)
To most millionaires, a rock festival arriving on the doorstep of their Umbrian holiday villa would be the stuff of summer nightmares. Not so, though, for Yashwant Bajaj, a former managing director of Lehman Brothers and founder of Singapore-based hedge fund Juggernaut Capital Management. He is the festival organiser. Bajaj, 51, is taking a sabbatical while overseeing preparations for the event at Massa Martana, an ancient walled town in the Martani hills. The August festival will take place on open farmland behind the eighth-century Santa Maria Church, close to Bajaj’s luxury villa. Among the acts confirmed are Paul Weller, Kaiser Chiefs and indie band James. Bajaj hopes to sell 10,000 tickets for the inaugural event, costing up to €300 for a three-day pass.

The Amazon of India is not Flipkart—it’s Amazon (QZ)
One of the worst-kept secrets in India’s e-commerce industry was finally outed yesterday as Flipkart, a broad-based e-commerce firm in India, said it was buying fashion e-tailer Myntra in an all-stock deal reportedly valued at about $330 million. Given that media had published nearly every detail involved for the last few weeks—the New York hedge fund manager backing the deal, the law firms involved and the price and other details—the announcement itself didn’t surprise anyone. Yet I was taken aback at the number of pundits who spoke of the deal as a watershed moment in Indian e-commerce, how India is at some apparent consolidation phase in e-tail, how this portends better things to come, an inspiration to entrepreneurs for great exits, a great combination to fight Amazon in India and so on. The spin doctors are working overtime.

Uber now seeking $12 billion valuation, says report (BizJournals)
Uber Inc. is now reported to be seeking $500 million in an investment that would value the company at more than $12 billion. The Wall Street Journal reports the company is talking with possible investors including hedge funds, mutual fund BlackRock, Inc. (NYSE:BLK), and private-equity firms General Atlantic and Technology Crossover Ventures. The ride-sharing company is working to complete the deal within the next few weeks, the report said. Uber last week was reported to be seeking a funding round that would value it above $10 billion.

Former Boardmembers Charged With Insider Trading Ahead Of Sale To The Carlyle Group (HedgeCo)
The SEC has charged a former director of a Long Island-based company and others in his family circle with insider trading ahead of the company’s sale to a private equity firm. The SEC alleges that board member Glenn Cohen learned that NBTY, Inc. (NYSE:NTY) was negotiating a sale to $100 billion global hedge fund manager The Carlyle Group and tipped his three brothers and a brother’s girlfriend with the confidential information. Craig Cohen, Marc Cohen, Steven Cohen, and Laurie Topal all traded on the inside information that Glenn Cohen provided and reaped illicit profits totaling $175,000.

CalSTRS’ First Seed Is Activist Legion Partners (Finalternatives)
One of the largest public pension funds in the U.S. has made a statement with its first seed investment. The California State Teachers’ Retirement System will invest $200 million in two-year-old Legion Partners Asset Management. The $184 billion pension also took a 30% stake in the activist hedge fund, Bloomberg News reports. Hedge fund activists have faced increasing scrutiny recently. But CalSTRS is no stranger to the field, having some $4.6 billion invested with such hedge funds.

Weiss bought Ocwen Financial (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

The 10 Biggest Airports in the World

The 5 Most Gang Infested Cities In America

The 34 Smartest Countries in the World

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

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!