Hedge Fund News: Warrant Buffett, Louis Bacon & Greenlight Capital

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How Much Does it Cost to Have Lunch with Warren Buffett? (Chinatopix)
If you think the first lunch date you had with your girlfriend was already the world’s most expensive date, think again. Having a lunch date with billionaire investor Warren Buffett could cost up to US $3.5 million. Warren Buffett, the CEO of global investment powerhouse Berkshire Hathaway Inc. (NYSE:BRK.A), is once again asking for one of the most expensive lunches in the world in a bidding that once fetched US $3.5 million in recent years. This year’s bidding for a lunch date with Buffet was posted on eBay Inc (NASDAQ:EBAY) with a starting bid of US $25,000, the New York Times reported…

hedge funds vs. mutual funds

Hedge fund services firm Rothstein Kass’ employees join KPMG following agreement (TheLawyer)
The agreement brings together KPMG’s expansive alternative investments presence and global reach with Rothstein Kass’ industry leading expertise and personnel. According to KPMG, the deal is a powerful demonstration of KPMG’s strength in and commitment to serving the broader alternative investments industry and capital markets, including hedge funds, private equity, real estate, infrastructure, and other segments of this important industry. The transaction is expected to close in the coming weeks, and terms of the agreement will not be disclosed.

Political-spending hypocrisy masks big policy questions (OJG)
In high-level fights over political spending, more is at stake for the oil and gas industry than tiresome hypocrisy. Senate Majority Leader Harry Reid (D-Nev.) has become obsessed with libertarian billionaires Charles and David Koch, calling their financial support of Republicans un-American and immoral. But what about hedge-fund tycoon Tom Steyer, who promises to spend $50 million of his own and a like amount from others to support Democrats in this year’s elections? “We need people like Tom Steyer,” Reid cooed to E&E Daily after speaking at a May 20 screening of a film bashing the Koch brothers.

Levett Returns to Bacon’s Moore After Shutting Hedge Fund (Bloomberg)
Chris Levett, who shut his commodity hedge-fund firm in 2013 after it posted almost three straight years of losses, plans to return to the industry with billionaire Louis Bacon’s Moore Capital Management LLC. Levett, 44, will join New York-based Moore in London in September as a money manager, a spokesman for the New York-based firm said today. He managed as much as $5.1 billion at Clive Capital LLP in 2011, making it one of the biggest commodity funds in the world at the time. Levett previously worked at Moore before starting Clive in 2007.

Stocks begin week with jump (BayStreet)
Stocks started out strong in Toronto, after strong Chinese manufacturing data reinforced views that the world’s second-largest economy is regaining momentum. The S&P/TSX composite index improved 57.71 points to begin a new week at 14,661.87. The Canadian dollar tumbled 0.48 cents to 91.74 cents U.S. Trucker TransForce Inc said it would buy truckload transport and logistics company Transport America for $310 million, including debt, from private equity firm Goldner Hawn Johnson & Morrison Inc. TransForce shares gave back 10 cents early Monday to $23.60. Bloomberg reported this morning that Royal Bank of Canada may invest as much as $1 billion in a hedge fund spun off from its proprietary trading business. Shares in Canada’s largest bank took on 19 cents to $74.83.

Milwaukee Employes’ Retirement picks 3 hedge fund-of-funds finalists (PIOnline)
City of Milwaukee Employes’ Retirement System picked Corbin Capital Partners, Lighthouse Investment Partners and UBS Alternative and Quantitative Investments as finalists in a search for a hedge fund-of-funds manager to run $100 million, according to a posting on the $5 billion pension fund’s website. The allocation would be CMERS’ first to hedge funds. The pension fund’s investment committee plans to meet Thursday to interview representatives of the three firms and expects to make a hiring decision. CMERS plans to hire one manager.

CNBC.com hot list: Top hedge fund school (CNBC)

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