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Hedge Fund News: SkyBridge, Aurelius Capital, Balyasny, Pine River

SkyBridge Fund Of Funds Gains 17.4% (WSJ)
SkyBridge Capital‘s $930 million hedge fund of funds returned a net 17.4% gain last year, according to an investor letter. SkyBridge Multi-Adviser Hedge Fund Portfolios LLC’s performance beat the 15% gain in the Standard & Poor’s 500 Index in 2010 and the average 5.68% return for hedge funds of funds as calculated by Hedge Fund Research. … As of Dec. 31, the fund invested in 37 hedge fund managers across a broad range of strategies: convertible arbitrage, macro, distressed, long/short equities and fixed income arbitrage. SkyBridge Capital acquired the fund of funds from Citigroup Inc. (C) last year when Skybridge bought Citi’s hedge fund advisory, seeding and fund of hedge funds operations.

Energy Future Holdings Dismisses Aurelius Charges (Reuters)
Energy Future Holdings, the Texas power company formerly known as TXU, on Friday dismissed charges made by a hedge fund that it has violated the terms of its lending agreements. “We think the claim is baseless and intend to vigorously defend ourself,” said Energy Future Holdings (EFH) spokeswoman Lisa Singleton. Hedge fund Aurelius Capital Management sent a letter to Citigroup (C), which acts as the administrative agent for EFH’s TCEH business, which consists of its unregulated Luminant and TXU Energy retail units.
Wall Street Oasis: Aurelius Capital Management have $2bn AUM. They are very reputable and are a distressed debt firm with an emphasis on legal issues (more so than other distressed shops). They’ve been involved in some headlines lately, including being the only creditor to not approve dubai world debt, buying chicago tribune credit…etc. they are heavily involved in monoline insurance litigation. It’s a fairly small shop with about 6-7 analysts and a total staff of about 25.

Balyasny’s Barry Colvin Raises Funds for Ayn Rand Institute Outpost in New York (WSJ)
Hedge-fund manager Barry Colvin has raised $60,000 to start a Greater New York outpost of the Ayn Rand Institute, the first chapter in the country for the Irvine, Calif.-based nonprofit dedicated to the late free-market philosopher and novelist. “The idea is on-the-ground reconnaissance,” said Mr. Colvin, vice chairman of Chicago-based Balyasny Asset Management. Mr. Colvin contributed the bulk of the funds but rallied donors for the rest. …In 1985, former hedge fund manager Victor Niederhoffer started New York City Junto, a monthly meeting he continues to lead in Midtown Manhattan that focuses on libertarianism, objectivism and investing. Every year the group marks Rand’s birthday with a special tribute. Mr. Niederhoffer even named his third daughter Rand.

The Blackstone Group L.P. (NYSE:BX)

Centro U.S. Property Assets Said to Draw Three Bids of at Least $9 Billion (Bloomberg)
Centro Properties Group, the Australian developer seeking to sell 588 shopping centers in the U.S., received at least three bids of $9 billion or more for the assets, according to people with knowledge of the matter. The offers were from Blackstone Group LP; a group comprising Morgan Stanley, Starwood Capital Group LLC and Paulson & Co.; and a team of NRDC Equity Partners LLC and AREA Property Partners, according to the people, who asked not to be identified because the bidding is private.

Morgan Stanley Trader Teicholtz Joins Hedge Fund Pine River (Bloomberg)
Colin Teichholtz, co-head of liquid rates trading at Morgan Stanley, is leaving the company to join hedge fund Pine River Capital Management LP, according to two people familiar with the move. Teichholtz, 40, helped lead a group at the New York-based securities firm that traded Treasuries, interest-rate swaps, agency debt and government-backed mortgage bonds. He will work in New York for Minnetonka, Minnesota-based Pine River.

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