Ackman, Thiel Back Investment Firm Fighting ‘Political Agendas’ (Bloomberg)
Hedge fund manager Bill Ackman and Peter Thiel, an ally of former President Donald Trump, are backing a startup investing firm that says it plans to go head to head against large money managers that promote stakeholder capitalism and “political agendas.” Strive Asset Management, co-founded by pharmaceutical investor Vivek Ramaswamy, has raised about $20 million, according to a statement Tuesday. Ramaswamy said large fund managers are investing their clients’ money to influence US public companies to further “political agendas” that many of their clients disagree with.
Citadel Founder Ken Griffin Wins Blue Origin Spaceflight Auction, Donating Two Seats to NYC Teachers (CNBC)
Ken Griffin, billionaire founder and CEO of hedge fund Citadel, placed the winning $8 million bid in an auction Monday for a seat on a spaceflight with Jeff Bezos’ Blue Origin. Bezos’ company donated two seats on its New Shepard rocket for a “buy one give one” auction at the non-profit Robin Hood’s annual benefit for New York City, with the second seat going to a NYC teacher.
Billions Lost, Pissed Investors, and Uncharacteristic Tweets: a Look at a Horrible Month for Growth Hedge Funds (Business Insider)
Billionaire Dan Sundheim is a self-described fan of Amazon founder Jeff Bezos, even naming his hedge fund D1 Capital after Bezos’ day one philosophy that harps on constantly innovating to avoid complacency. But at the end of a tough April, Sundheim took to Twitter to air out his frustrations over Amazon – one of his biggest investments – as his hedge fund was hit with losses in April.
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Tiger Global Hit by $17 bln Losses in Tech Rout – FT (Reuters)
May 10 (Reuters) – New York-based Tiger Global has been hit by losses of around $17 billion during this year’s technology stock selloff, marking one of the biggest dollar declines for a hedge fund in history, the Financial times reported here on Tuesday. The firm, one of the world’s biggest hedge funds, has erased around two-thirds of its gains in four months, the newspaper said, citing calculations by LCH Investments.
Opportunities Abound for Australian Businesses and Their Investors (Preqin)
KKR’s longstanding experience of investing in Australia shows there are abundant opportunities for value creation and growth in the region. KKR is today one of the largest private investors in Australia. How has the investment landscape changed since 2006, when KKR first started investing in Australia? Australia’s investment landscape has changed significantly since then. The economy has shifted toward services and digitization, particularly over the past ten years, creating new opportunities for both public and private capital to support local businesses redefining legacy industries.
