David Tepper’s Promises to Charlotte: Those He Kept and Those Left Unfulfilled
David Tepper’s purchase of the Carolina Panthers in 2018 ushered in a new Charlotte sports era, one that has seen the addition of a Major League Soccer team and venue upgrades at Bank of America Stadium. But Tepper — a hedge fund billionaire and founder of Appaloosa Management — has also been embroiled with tumultuous public-private projects, including a failed Panthers headquarters in Rock Hill, South Carolina, and what appears to be an unfulfilled Charlotte FC presence at the former Eastland Mall site.
Bill Ackman Goes After Visa, Pornhub (The Street)
The credit card company is being sued for monetizing child pornography. A federal Judge in California is allowing a lawsuit against Visa to proceed, and a prominent CEO and hedge fund manager has now weighed in on the matter. The suit, titled Serena Fleites v. MindGeek et al., (which can be read here) alleges that Visa helped the privately owned Canadian company MindGeek monetize child pornography through its website PornHub.
Citadel Grabs Miami Office Space Ahead of Building Its Own Tower (Bloomberg)
Ken Griffin’s Citadel is tying up deals for office space as it prepares to expand in Miami, where the firm is establishing its headquarters. Citadel has taken a floor at 200 South Biscayne Blvd., where it already has temporary offices, and leased roughly 90,000 square feet (8,360 square meters) at 830 Brickell, an under-construction tower where Thoma Bravo and Microsoft Corp. have signed on as tenants, according to people familiar with the matter who asked not to be identified citing private information.
Angelo Gordon Investors Just Learned of a Rape Claim Against a Former Exec. ‘Transparency is a Concern,’ Pension CEO Says. (Business Insider)
Two pension clients of the hedge fund Angelo Gordon say they only recently learned about the 2019 accusations of sexual assault against a former top executive of the fund’s direct lending arm, Twin Brook Capital Partners. The CEO of a $18 billion pension fund in Maine told Insider that staff were first notified on June 22 about the lawsuit, which has raised transparency concerns for the investor.
FundFront and Haven Cove Partnering to Further Expand Access to Hedge Fund Strategies (PRNewswire)
LONDON, Aug. 3, 2022 /PRNewswire/ — FundFront, the innovative alternative investment platform that simplifies access to leading hedge fund strategies, and Haven Cove Capital Management (“Haven Cove”), today announced the introduction of Haven Cove’s flagship fund on the FundFront platform, bringing a new addition to its curated menu of high performing hedge funds available to financial advisors and their investors. Recently launched and now available on the FundFront platform is FundFront Haven Cove (HCO), which offers investors access to the performance of Haven Cove Absolute Return Fund, a systematic European liquid credit & equity strategy that aims to achieve consistent absolute returns with low volatility.