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

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

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 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

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!