Singer’s Elliott Management Buys Sky Stake Ahead of Vote (Bloomberg)
Elliott Management Corp., the hedge fund founded by billionaire Paul Singer, has built a stake in Sky Plc as shareholders prepare to vote on 21st Century Fox Inc.’s 11.7-billion-pound ($16.6 billion) offer for the European pay-TV company. Elliott Capital Advisors LP, a subsidiary of Singer’s fund, disclosed a 1.09 percent interest in Sky via derivatives, according to a regulatory filing published Friday. Elliott’s investment is fluid and the firm has yet to determine whether it will be an active or passive position, according to a person familiar with the matter, who asked not to be identified as the deliberations are private.
MOVES-Brevan Howard Taps Eurobank Economist Monokroussos to Run Greek Ops (Reuters)
ATHENS, Jan 29 (Reuters) – Eurobank’s chief economist Platon Monokroussos is leaving the bank to join hedge fund firm Brevan Howard, sources at Greece’s third-largest lender by assets told Reuters on Monday. Founded in 2002 by former Credit Suisse traders Alan Howard, Jean Philippe Blochet, Chris Rokos and Tryfon Natsis, Brevan Howard has more than 15 billion euros in assets under management. Monokroussos, 50, who worked at Eurobank for 18 years, will lead Brevan Howard’s Athens operations which will target investments in commercial real estate and listed equities via two new funds.
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Steve Cohen Ponying Up For Sequel To The Don, Paul and Mitch Show (Dealbreaker)
There are some who look at the patently ridiculous, almost comically mendacious and hilariously inept state of the United States government and think, “Things could perhaps be better.” There are the obvious ones, like George Soros, Tom Steyer and Jim Simons. There’s Ray Dalio, too. Even Trump supporter Jeff Gundlach thinks the things emerging from the Republican-controlled Congress to land on the nominally Republican president’s desk aren’t exactly ideal. Steve Cohen is not among these people.
Biggest Hedge Fund’s €130m ‘Short’ on CRH (independent.ie)
The world’s largest hedge fund is shorting CRH to the tune of approximately €130m. Bridgewater Associates, founded by billionaire Ray Dalio, opened the position last Monday, according to Central Bank filings. The hedge fund is ‘short’ 0.5pc of CRH – a position with a market value of around €130m. Shorting is a mechanism that allows an investor to bet that a company’s share price will fall. One mechanism is to borrow shares from a broker and sell them, pocketing the proceeds in the hope that you will be able to buy back the shares at a lower price later and return them to the broker.
