Hedge Fund Anchorage to Place Key Order in Casino Debt Refinancing (Bloomberg)
Anchorage Capital Group is throwing its weight behind Casino Guichard-Perrachon SA as the French retailer seeks to bolster its finances with a 3.5 billion-euros ($3.9 billion) refinancing plan. The New York-based hedge fund placed one of the largest orders for the 750 million euro loan portion of Casino’s refinancing package set to price this week, according to three people familiar with the transaction, who asked not to be named because the matter is private. The supermarket chain received commitments for about half of the total loan amount shortly after the launch last month, the people said.
Elliott Says Chemical Company Owners Overcharged for Debt (The Wall Street Journal)
Hedge-fund manager Elliott Management Corp. is accusing Black Diamond Capital Management LLC, Brightwood Capital Advisors LLC and BlackRock Inc. of gouging specialty chemicals maker Vertellus Holdings LLC with high-interest debt after they took control of the company through a bankruptcy. Elliott sued the board of Vertellus and the three investment firms in the New York Supreme Court on Oct. 30, saying they prevented the chemical manufacturer from taking advantage of a favorable debt refinancing proposed by Elliot and credit.
‘I Care’ – Billionaire Investor Tears Up Talking About America, Elizabeth Warren and Donald Trump (CNBC)
“I care,” the hedge fund manager answered while tearing up when asked why he has been so vocal about the 2020 election. Cooperman’s response came in the midst of a political battle between the longtime investor and presidential hopeful Elizabeth Warren. “I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats. The vilification of billionaires makes no sense to me,” he said. Billionaire investor Leon Cooperman teared up on Monday as he discussed the political divide in the U.S. and his concerns about the American dream.
Sachem Head to Push For Sale of Education Company 2U (Bloomberg)
Activist investor Sachem Head Capital Management LP has built a position in education software provider 2U Inc. and plans to push the company to explore strategic alternatives, including a sale, according to people familiar with the matter. The New York hedge fund, run by Scott Ferguson, is now one of the 2U’s top shareholders, the people said, asking not to be identified because the matter is private. The exact size of Sachem Head’s stake could not be learned.
Real Assets, Real Growth in Australia: A Preqin & Perpetual Study (Preqin.com)
Investors across real assets (comprising real estate, infrastructure and natural resources) are finding attractive deals in Australia’s key markets, which offer all the right conditions for investment in today’s low interest rate environment. With one of the largest pools of alternative assets under management, Australia is widely seen as a global leader in infrastructure and is recognized for its expertise in financial advisory services.
Here’s What Hedge Funds Should Really Be Worried About (Institutional Investor)
Staring down a ten-year-old bull market, institutional investors are increasing their allocations to alternatives to help steady their portfolios. But instead of investing in hedge funds, private equity, and other private market assets, they’re buying lower-cost exchange-traded funds that seek to provide similar returns through rules-based strategies, new research shows.
Hedge Funds Buy Oil in Anticipation of Short-covering Rally: Kemp (Reuters)
LONDON (Reuters) – Hedge funds have started to become more optimistic about the outlook for oil prices amid hopes that the United States and China will reach a trade truce and the global economy will avert recession in 2019/20. From a fundamental perspective, hedge funds are rebuilding long positions in crude and fuels because the news flow about the economy is no longer deteriorating, even if it is not yet improving much.