Hedge Funder Richard Perry Bought Herbalife And More FedEx During The Third Quarter (SFGate)
Hedge fund manager Richard Perry, who runs Perry Capital, has filed his third-quarter 13F with the Securities and Exchange Commission. During the quarter ended September 30, Perry snapped up a position in Herbalife Ltd. (NYSE:HLF). Perry held 2,632,138 million shares in the quarter. Perry also added to his FedEx Corporation (NYSE:FDX) position during the third-quarter, the filing shows. He held 4.2 million shares compared with 3.9 million shares in Q2. FedEx is one of Perry’s top holdings.
Hedge Fund Expands at 600 Lexington Ave (CommercialObserver)
Element Capital has signed a 10-year expansion deal at SL Green’s 600 Lexington Avenue, doubling its space to 13,500 square feet on the 33rd and 34th floors of the building, The Commercial Observer has learned. The hedge fund will pay rent starting in the mid-$70s per square foot, according to data from CompStak. Element first signed a lease at the building in 2009 when starting rent for the 34th floor space was in the low-$70s per square foot. A spokesperson for Element Capital confirmed the company had signed a new lease but declined to comment further. Steve Durels, director of leasing for SL Green was not immediately available for comment.
BlueCrest backs Meredith Whitney’s American Revival fund but others shrug (CNBC)
Former star financial analyst Meredith Whitney is hoping to make a big comeback—and big money—by applying her financial advisory skills to the hedge fund game. But it’s not clear if investors will buy in. Undisclosed executives at $35 billion London-based hedge fund firm BlueCrest Capital Management form one initial set of supporters. They are giving personal money as so-called anchor investors in Whitney’s new fund, Kenbelle Capital, according to two people familiar with the situation. Bloomberg first reported the BlueCrest news.
Boston hedge fund manager Baupost Group unloads $452M stake in AIG (BizJournals)
Baupost Group, a Boston-based hedge fund manager with roughly $30 billion in assets under management, unloaded its stake in American International Group, Inc. (NYSE:AIG), the New York-based insurer that was a central player in the 2008 credit crisis and subsequent federal financial bailout. According to Bloomberg News, Baupost, which is led by Seth Klarman, unloaded 10 million AIG shares in the recent quarter that ended June 30. The ownership stake was valued at approximately $452 million, according to AIG’s trading price at the time.
Henderson acquires hedge fund manager H3 Global Advisors (FinancialStandard)
Australian and UK-listed fund manager Henderson Global Investors has acquired Australian and London-based alternative investment manager H3 Global Advisors. Henderson has acquired 100% of the equity of H3 Global Advisors though the exact terms were not disclosed. H3 specialises in active and enhanced commodities strategies and, managing approximately $342 million on behalf of institutional and retail clients. The group was founded in 1996, and is run by Andrew and Mathew Kaleel.
SEC Falls Short In Bid To Revive Claims Against Hedge Fund (Law360)
A Georgia federal judge Tuesday refused to reconsider his decision to narrow claims brought by the U.S. Securities and Exchange Commission in an enforcement action accusing two hedge fund managers and their firms of fraud. U.S. District Judge William S. Duffey Jr., Tuesday refused the SEC’s request to reconsider a prior ruling gutting their valuation claim in an enforcement action brought in October 2010 against Paul Mannion Jr., Andrew Reckles and their firms, PEF Advisors LLC and PEF Advisors Ltd.. The SEC says the fund advisers defrauded…
Bill Gross: Fed policy increasingly negative (CNBC)
Who’s next? BNY Mellon starting bond hedge fund (InvestmentNews)
The Bank of New York Mellon Corporation (NYSE:BK), the bank that manages $1.5 trillion in client assets through 16 different investment-advisory firms, is starting a hedge-fund unit led by a trader who specializes in government bonds and related derivatives. Edward George Fisher, a onetime Brevan Howard Capital Management LP trader who is also known as E.G., is the chief executive officer of 484Wall Capital Management, an advisory company formed in September to run fixed-income arbitrage strategies, according to regulatory filings. 484Wall will use an approach similar to that of 5:15 Capital Management, a defunct hedge-fund firm that Mr. Fisher and two other former Brevan Howard traders set up and named for a song by the British rock group the Who.
Jim Rogers: Both Congress, BJP have not been and will not be good for India (LiveMint)
Hedge fund manager Jim Rogers has always been an India bear and a critic of the policies of the Indian government. The chairman of Rogers Holding who moved to Singapore in 2007 because he believes the centre of the world is moving to Asia, lashes out in an interview at both national political parties and dismisses Goldman Sachs Group, Inc. (NYSE:GS)’ recent report on how it was turning bullish on India because of the possibility that the Bharatiya Janata Party’s (BJP’s) Narendra Modi could be the country’s next prime minister. “I won’t invest in India” till the country opens up more, said Rogers.
Celesio says hedge fund Elliott holds 15 pct stake (Reuters)
Hedge fund Elliott International has built up a stake of 15.15 percent in German drugs distributor Celesio, the subject of an $8.3 billion takeover bid by U.S. rival McKesson Corporation (NYSE:MCK), Celesio said in a regulatory statement on Thursday. Celesio had said last week that Elliott, run by U.S. investor Paul E. Singer, owned 11.68 percent of the shares in Celesio as per Oct. 31. Elliott has a history of building up stakes in takeover targets with the aim of extracting a better price, such as with Kabel Deutschland just a couple of months ago.
Teachers union fights hedge funds on pensions (CNBC)
The American Federation of Teachers union is taking on Third Point’s Dan Loeb and other big hedge fund managers over pensions. “What we said to Dan Loeb and other investment managers is that transparency counts,” AFT President Randi Weingarten told CNBC on Wednesday. She was echoing the sentiments of an AFT report titled “Ranking Asset Managers,” in which the union wrote: “Many of the organizations attacking defined benefit [pension] plans are funded by hedge fund and private equity managers.”
Hedge funds prepare for higher global rates (FT)
Tapering – the curbing of the US Federal Reserve’s programme of quantitative easing – may be off the table in the near term, but for many investors, it still looms large. In the UK this week, the Bank of England’s declaration that the recovery was in train underlined the issue that interest rates could rise sooner than previously expected, and that the portfolios of most institutions are woefully positioned. The problem is such that regulators have taken it upon themselves to start prodding large money managers on their short-end debt exposures, which they view as uncomfortably large.
Jeff Ubben Helps to Recover Allison Transmission’s Face Value (InsiderMonkey)
Jeffrey Ubben’s hedge fund, ValueAct Capital, did not disclose holding shares of Allison Transmission Holdings Inc. (NYSE:ALSN) in its latest 13F filing with the Securities and Exchange Commission. However, recently, Mr. Ubben has submitted a new filing with the SEC disclosing the ownership of 18,025,204 shares of the company. The position achieved represents a 9.9% of the company’s outstanding common stock, placing ValueAct Capital as the hedge fund with the largest position amongst those we track.
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