Co-founder of $25bn Cheyne Joins Hedge Funds Standards-Setter (FNLondon.com)
The co-founder of $25bn London-based hedge fund manager Cheyne Capital has joined the board of the standards-setter for the global alternatives industry. Stuart Fiertz, who is president of Cheyne, has joined the Standards Board for Alternative Investments alongside Richard Lightburn, CEO of New York hedge fund MKP Capital Management. The appointments come as the SBAI enters a new phase having rebranded late last year to remove “hedge funds” from its name. It said at the time that the new name “reflects the evolution of the industry and the ongoing development of the SBAI”.
Investor Odey Says Sky Could Be Worth As Much As 50 Billion Pounds (Reuters)
LONDON (Reuters) – Top-20 Sky (SKYB.L) investor Crispin Odey said he expects the bidding war for the media company to carry on over the summer and that the European broadcaster could be worth as much as 50 billion pounds ($65.5 billion). The pay-TV operator is the subject of rival bids from U.S. peer Comcast Corp (CMCSA.O) and Rupert Murdoch-majority owned Twenty-First Century Fox (FOXA.O), which currently owns a 39 percent stake in Sky but wants to buy it outright. Fox’s long standing 10.75 pounds per share offer was trumped by a 12.50 pound per share bid from Comcast in April, valuing Sky at $31 billion.
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Fired DE Shaw MD Prepared To Tell A Judge That His Former Hedge Fund Is A Roiling Den Of Sin (DealBreaker)
You guys remember Daniel Michalow, right? He’s the former DE Shaw managing director who openly yearned for a colleague to call “Sugar Tits” and then took his firing in stride by writing David Shaw a letter that basically alleged DE Shaw to be a non-stop, booze and drug-fueled nerd fuckfest that sometimes manages assets. Yeah, that Daniel Michalow. Well, there’s an update. According to Business Insider, Michalow is not looking to just set let the bridges he has burned lead his way to a settlement package. He’s looking to make a real stink here.
Jim Rogers is the Latest Aging Investing Guru to Launch an ETF Programmed to Trade Like Them (CNBC)
Jim Rogers is the latest investing guru to venture away from active management by attaching his name to an exchange-traded fund. The Rogers AI Global Macro ETF (BIKR) launches Thursday in New York. It’s based on an index that tracks a model Rogers, 75, and his team at Ocean Capital Advisors have created using machine learning to analyze global economic data. The ETF, which primarily follows U.S.-listed single-country ETFs, will rebalance monthly based on that analysis. The fund’s launch follows that of the NYSE Pickens Oil Response ETF (BOON) in February. Noted oil investor T. Boone Pickens‘ firm, BP Capital Advisors, and the New York Stock Exchange created the fund to track both producers and consumers of U.S. oil and gas.
