Hedge Fund Alden Global Offers to Buy Tribune Publishing (CNBC)
Tribune Publishing’s largest shareholder, Alden Global Capital, said on Thursday it had offered to take full control of the owner of the Chicago Tribune in a deal that values the company at $520.6 million. Alden, known for its hostile takeover bids of publishing companies, has a stake of 32% stake in Tribune. The hedge fund’s offer valued the newspaper chain at $14.25 per share, representing a premium of 11.4% to the company’s shares last closing price.
City Tycoon Marshall Tunes into £60m GB News Fundraising (Sky News)
Sir Paul Marshall is close to finalising a deal to invest £10m into the new current affairs broadcaster, Sky News learns. One of the City’s most prominent hedge fund managers is preparing to invest millions of pounds in GB News, the fledgling current affairs broadcasting company which is targeting a launch into British homes next year. Sky News has learnt that Sir Paul Marshall, the co-founder of Marshall Wace, is in advanced talks about injecting approximately £10m into GB News.
Larry Robbins Hedge Fund Indicates top Fund Holdings as 2021 Picks, a Mixed Pack (Seeking Alpha)
Larry Robbins, Founder and CEO of Glenview Capital Management picks top 10 stock. Glenview Capital 13F portfolio reported a value decline of $22B in the past five years. At the end of the latest quarter, the 13F portfolio value stood ~$3.18B at the end of the latest quarter. Fund slashed its position in 27 stocks during the September quarter and sold out his stake in 6 stocks. In the latest quarter, it bought only 7 stocks in the latest quarter and added to 9 existing positions.
‘There is Still a Painful Void:’ Greenwich’s Ray Dalio Opens Up About Loss of Son (GreenWichTime.com)
GREENWICH — The loss of his son in a crash nearly two weeks ago “triggered an enormous amount of pain and reflection,” Greenwich entrepreneur and philanthropist Ray Dalio said in a lengthy essay released Wednesday. Devon Dalio, 42, was killed Dec. 17 after his Audi crashed into a Verizon store in the Riverside Commons shopping center in Greenwich and caught fire.
Hedge Funds Ride 2020’s Crypto Boom to Rally 156% (Financial News)
Hedge funds have warmed to cryptocurrencies as bitcoin boomed with a rally that is on track to end the year some 305% higher. Hedge funds overall have struggled to consistently beat returns of equity indexes. Global hedge funds gained 4.49% in November, their best month since 2009, and posted a more than 8% gain in the first 11 months of the year, hedge fund tracking firm Eurekahedge found. An index tracking hedge funds that invest in cryptocurrencies including bitcoin surged 52% in November, bringing the year-to-date return to a whopping 156%. That’s according to analysis and research firm HFR, which posted the performance of its HFR Cryptocurrency Index.