Ken Griffin Hires Two Moore Capital Veterans for Macro Expansion (Bloomberg)
Billionaire Ken Griffin hired two veteran money managers from Louis Bacon’s hedge fund as he seeks to build a rival macro business. Marco Birch and Eric Dannheim will join Griffin’s $30 billion Citadel later this year as senior portfolio managers, spokeswoman Julia Kosygina confirmed. They will be part of Citadel’s macro strategies business, which was started in early 2018, and report to group head Colin Lancaster.
Hedge Funds in the Business of Breaking Up Deals See Big Payoff, Study Finds (CNBC)
Turns out, killing deals, or even attempting to do so, can be a profitable business. That’s the thinking behind an increasingly popular tactic for hedge-fund activists – and it seems to be paying off. Carl Icahn recently used it to try to destroy Cigna’s $54 billion purchase of Express Scripts. When reports of Icahn’s plan surfaced on Aug. 1, Cigna’s shares gained about 2 percent, while Express Scripts shares slumped 6.3 percent.
Insider Selling: Howard Hughes Corp (NYSE:HHC) Director Sells 51,660 Shares of Stock (MareaInformativa.com)
Howard Hughes Corp (NYSE:HHC) Director Pershing Square Capital Manage sold 51,660 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $126.13, for a total value of $6,515,875.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.