Peltz’s Trian Seeks to Rally Disney Shareholders Against Board Director Froman (Reuters)
Activist investor Nelson Peltz‘s hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate’s board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company’s 12-member board and elect Peltz instead.
ExodusPoint, the Largest Hedge Fund Launch in History, Shed Assets and Employees Amid Mixed Performance Last Year (Business Insider)
As a chaotic year in the markets headed toward a close, some of the most revered hedge funds in the industry, such as Citadel and D.E. Shaw, cruised to the finish line with banner results. Others, like ExodusPoint, staggered. The firm, which holds claim to the largest hedge fund launch in history, returned in 2022 a modest 5.5% to 6%, depending on the share class, according to investor documents seen by Insider and people familiar with the matter.
Tiger Global Cuts Fundraising Target as Startup Market Cools (The Wall Street Journal)
Tiger Global Management is scaling back its plans for a large venture-capital fund, a reversal for the tech investor that epitomized the Silicon Valley startup mania. The New York-based manager told investors it is reducing the target size for its latest venture fund to $5 billion, down from a $6 billion target it set when it began fundraising last fall, according to people familiar with the matter. The $6 billion itself was well below Tiger’s early expectations that it would raise a roughly comparable fund to its last, which totaled $12.7 billion, some investors said.
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‘Big Short’ Michael Burry Bets on a Stock Market Crash (The Street)
The legendary investor deleted his Twitter account after urging investors to liquidate stocks. The message surprised more than one investor. It came in one word on Jan, 31. Its author is Michael Burry, the founder of the hedge fund Scion Asset Management. Burry is known for his bet on the collapse of the U.S. housing market, which led to the 2008 financial crisis. This financial debacle made Burry a legend. It made him an example to follow in defiance of standard practices in finance.
How Extreme Bets Fueled an $11.4 Billion Fortune (Bloomberg)
Michael Platt made his first billion charging hedge fund clients fees until ditching them seven years ago. Now, without the same constraints, he’s spun that bundle into one of the biggest fortunes in the world. But just how much Platt commands — and how much he deploys into markets — remains a source of intrigue across Wall Street. He stoked it a few years ago by sliding into the backseat of New York’s “cabbie to the stars” and boasting he was the highest-earning person in finance. Platt later dismissed the viral social-media interview as spoof.
