Hedge Fund Titan John Paulson’s Unlikely Bougainvillean Bet (AFR.com)
A private vehicle of ex-US hedge fund magnate John Paulson is an investor in Wyndale Holdings, whose Bougainvillean subsidiary is run by bankrupt Perth mining identity Nikolajs Zuks. We’ve previously detailed how Wyndale has secured an alluvial mining licence in the region, and is applying for two others. And while we noted that Wyndale had conducted several capital raises of late, their source is heftier than we had any reason to suspect.
Panthers Owner Tepper Hires Law Head After Bias, HQ Allegations (Bloomberg Law)
The Carolina Panthers have a permanent general counsel for the first time since 2020 as the team wrestles with allegations of racial bias in hiring and an investigation into a scuttled $800 million headquarters plan. Tanya Taylor, who was the first Black woman to hold the general counsel job at Radisson Hotel Group Americas, announced her new top legal role with the Panthers on LinkedIn after team owner David Tepper said her hire and several others show he’s trying to break up the NFL’s “old boys’ network.”
Bath & Body Works Adds Director, Third Point Backs Off Proxy Fight (Reuters)
Bath & Body Works Inc (BBWI.N) on Monday named veteran financial executive and board member Thomas Kuhn as a new director, ending a potential challenge from billionaire investor Daniel Loeb‘s hedge fund Third Point. Kuhn, a lawyer and former banker who is currently a managing member of advisory and investment firm Doorbrook LLC, joins the board at the end of the week as its third newcomer and was recommended by Third Point, the company said in a statement.
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AQR Leads 10 Hedge Funds Suing LME Over Nickel Trade Debacle (Bloomberg)
AQR Capital Management formally filed a London lawsuit against the London Metal Exchange, joining nine other hedge funds in a series of claims targeting the exchange’s decision to cancel billions of dollars in nickel trades last year. AQR and DRW Commodities previously sought key documents from the exchange in court and alongside Flow Traders BV, Capstone Investment Advisors LLC and Winton Capital Management Ltd. are seeking around £80 million ($96.3 million), according to the LME.
Opalesque Roundup: 2023 could be a Strong Year for Hedge Funds, Says Abrdn: Hedge Fund News, Week 08 (Opalesque)
Opalesque Roundup: 2023 could be a strong year for hedge funds, says abrdn : hedge fund news, week 08. In the week ending March 03rd 2023, global asset manager abrdn said that 2023 could be a strong year for hedge funds. The firm has released its first quarter hedge fund outlook and in it, suggests that discretionary macro strategies, merger arbitrage strategies, and relative value strategies could be well positioned for the current market environment. The outlook says that discretionary macro strategies in particular could do well given the variety of themes in the market right now including persistent inflation and rising rates.
