Investment Manager Lansdowne Partners to Buy $1.1 Billion CRUX Asset Management (Reuters)
London-based investment manager Lansdowne Partners LLP said on Wednesday it had agreed to acquire the $1.1 billion UK equities manager CRUX Asset Management, subject to regulatory approval, according to an investor letter seen by Reuters. The purchase, for an undisclosed sum, serves as a succession plan for CRUX’s founder, Richard Pease, who will retire when the deal is completed, the letter said.
Bill Miller’s Son Acquires Majority Stake in $1.7bn Family Fund Firm (CityWire.com)
Bill Miller IV, the son of veteran stockpicker Bill Miller, has taken control of the family’s $1.7bn fund firm Miller Value Partners (MVP), acquiring a majority position in the business. Miller IV is now the firm’s chief investment officer and chairman and owns 80% of the company, while the senior Miller keeps a 20% stake and will continue to be a general adviser to MVP.
Chase Coleman Let the Tiger Out of the Cage in Q1 With Hot Returns (Nasdaq.com)
Investors are carefully divining the latest SEC 13F filing from Chase Coleman’s Tiger Global Hedge Fund reporting its latest trades and movements for the March quarter. Born from the ashes of the dot-com bubble, Tiger Global rose to prominence in the early 2000s under Coleman’s unwavering leadership. Armed with an uncanny ability to spot tech disruptors before they hit the mainstream, the hedge fund amassed a breathtaking track record of success.
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Hedge Fund Veteran Deepak Narula Says Agency MBS Offer Rare Opportunities Now (Bloomberg)
The founder and CIO of Metacapital Management points to wide spreads to Treasuries and unprecedented prepayment speeds. Deepak Narula says wide spreads in the agency mortgage-backed security market offer opportunities approaching those that surfaced in the wake of the global financial crisis. The founder and chief investment officer of Metacapital Management LP should know. Born in New Delhi, Narula earned a Ph.D. in management science at Columbia Business School before joining Lehman Brothers Holdings Inc. as a research analyst in 1989.
This Toronto Hedge Fund Sees a Sweet Spot in 5-Year Corporate Debt (The Whig)
Investors looking to generate more than five-per-cent yield in money market securities should buy corporate bonds maturing in five years or less to lock in those returns for longer, according to Picton Mahoney Asset Management. Adding the debt allows investors to hold on to those high yields for an extended period of time compared with money markets, which are usually comprised of securities coming due in a year or less, said Phil Mesman, head of fixed income at the Toronto-based hedge fund.
