Hedge Fund and Insider Trading News: Bill Ackman, Steve Cohen, MSD Capital, Magnetar Capital, Elliott Management, salesforce.com, inc. (CRM), American States Water Co (AWR), and More

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Michael Dell’s Money Managers Change How His Wealth Is Invested (The Wall Street Journal)
Michael Dell’s money managers are making the most significant change in years to how they invest the billionaire’s wealth. MSD Capital, Mr. Dell’s $16 billion family office, is winding down several internal stock-picking strategies, according to people familiar with the firm. While the Dell Technologies Inc. founder will continue to have significant exposure to the stock market through passive investments and his Dell holdings, the move marks a pullback from active stock-picking and a greater focus on private markets, where..

Magnetar Seeks $400 Million for Its First Health-Care Hedge Fund (Bloomberg)
Magnetar Capital, the alternative investment firm started by Alec Litowitz and Ross Laser, is set to launch its first health-care hedge fund next year, seizing on a strong sector for startups. The firm is seeking about $400 million in the first close of fundraising by mid-2020, according to a person with knowledge of the matter. Portfolio manager Chris Procaccini, 43, who joined the firm in 2018, and a team of four analysts will take long and short positions on well-known stocks in businesses such as pharmaceuticals, medical devices and health-care services.

Billionaire Hedge Fund Manager Bill Ackman is Poised to Exceed 50% Returns After a 3-Year Drought (Business Insider)
Bill Ackman‘s hedge fund is on track to land massive returns after three years of negative net performance. Pershing Square Capital Management posted a 3.4% gross gain for November, or 3.2% after fees. The month’s performance brings its year-to-date return to 51.3% after fees. Should Pershing Square’s 2019 surge continue through December, Ackman’s fund will post its first year of positive net returns since 2014.

Alexion Pharma Rejects Elliott’s Push for ‘Proactive Sale’ (Reuters)
(Reuters) – Alexion Pharmaceuticals Inc (ALXN.O) said on Friday its board of directors had unanimously decided against hedge fund Elliott Management’s push for a “proactive sale” process, as it would not be in the best interest of shareholders. Alexion, which has a market capitalization of about $24 billion, said it took into account the hedge fund’s views but concluded it was “highly unusual, if not unprecedented” for a company of its size to proactively launch a sale process.

Money Ball: 8 Hedge Fund Managers Who Own Pro Sports Teams (Benzinga)
Hedge fund billionaire Steve Cohen, CEO of Point72 Asset Management, is in talks to boost his ownership in the New York Mets baseball team to a majority stake, perhaps bringing more of a Wall Street vibe to the team out in Queens. If the deal is completed and Cohen becomes the main owner in five years as is being discussed, he won’t be the only hedge fund guy making a money play in the sports big leagues. Here’s a look at a few other hedge fund guys who have gotten the sports bug.

Baseball Ownership: Keeping Up With the Ballmers (The Wall Street Journal)
Even if the New York Mets stink it up again on the field next year, they may have a new swagger. So might the 29 other teams in Major League Baseball. While their owners are hardly paupers, America’s pastime hasn’t attracted obscenely rich people. That would change if hedge-fund titan Steven Cohen succeeds in buying 80% of the Mets.

Five Star Launches Hedge Fund Targeting Las Vegas Wealthy (Hedge Week)
Five Star Funds, an asset management and advisory firm, has launched the Flamingo All Weather Fund, the first hedge fund of its kind to be based in Las Vegas, Nevada. The area has enjoyed sustained periods of significant economic growth, transforming the city from a boom-and-bust town dependent on discretionary spending at casinos to a business-friendly metropolis fostering growth in diversifying sectors. “The floodgates really opened when the recent tax changes went through,” Derek Davis, Partner at Five Star Funds, says. “Since the limiting of the SALT deduction, we’ve seen an unprecedented amount of wealth flee California and settle here in Las Vegas. The quality of life per dollar out here is truly unbeatable.”

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