Billionaire Hedge Fund Manager Argues for Increasing Immigration to Fight Inflation (CNN)
Bill Ackman, the billionaire hedge fund manager and activist investor, has an alternative idea to fight inflation: Increase immigration. He criticized the Federal Reserve’s interest-rate hikes in a series of tweets Thursday and Friday as a blunt tool that will destroy consumer demand and trigger a recession. “Inflation can be mit igated by reducing demand and/or by increasing supply,” tweeted Ackman of Pershing Square Capital. “Doesn’t it make more sense to moderate wage inflation with increased immigration than by raising rates, destroying demand, putting people out of work, and causing a recession?
Hedge Fund D.E. Shaw Is Shifting HQ to Manhattan West Tower (Bloomberg)
Hedge fund titan D.E. Shaw & Co. is relocating its Midtown headquarters to the far west side of Manhattan. The firm has signed a lease at Two Manhattan West, spanning roughly 283,000 square feet (26,292 square meters) across eight floors, according to a statement Friday. Currently based at 1166 Avenue of the Americas, D.E. Shaw plans to move to the new skyscraper in 2024.
Activist Investor Jana Partners Discloses Nearly 10% Stake in Freshpet (Reuters)
Sept 22 (Reuters) – Jana Partners on Thursday disclosed a 9.6% stake in Freshpet Inc (FRPT.O) and said it could push the pet food maker to evaluate a sale of its business, indicating another round of corporate activism in the retail industry by the hedge fund. The New York-based investor said in a regulatory filing that Freshpet’s shares, down nearly 60% so far this year, are undervalued.
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Billionaire Izzy Englander’s Millennium Just Tapped a Goldman Sachs Alum to Build Out Its Miami Hub as the War for Talent on ‘Wall Street South’ Heats Up (Business Insider)
Izzy Englander‘s $57 billion Millennium Management has tapped Olga Naumovich to lead its technology build-out in Miami, a source familiar with the hedge fund’s plans told Insider. In this newly created role as head of technology for Miami, Naumovich’s focus will be to build teams of engineers and developers that work closely with the multi-strategy hedge fund’s trading pods.
Jacob Rees-Mogg to Sell His Multi-Million Pound Hedge Fund (Tatler)
Millionaire and MP Jacob Rees-Mogg could become even richer over the next few months if he receives a multi-million pound payout from his hedge fund. It emerged yesterday that talks were under way to sell his investment firm, Somerset Capital Management, which was valued at between £70m and £100m in 2018. Rees-Mogg helped launched the business in 2007, and it is currently chaired by Dominic Johnson who is also its co-founder and chief executive. Johnson is now said to be preparing to follow in Rees-Mogg’s footsteps by shifting into a career in politics.
