How Coatue Shielded Itself from the Worst of the Bloodbath Crippling Tiger Global, Melvin Capital, and Other Tech Funds (Business Insider)
Like most so-called Tiger Cubs, the tech-focused hedge fund Coatue has lost significant money this year. But it has fared better than rivals, thanks in part to founder Philippe Laffont’s longstanding propensity to slash exposure and build up piles of cash during market turbulence, according to sources familiar with the fund and a recent investor presentation.
David Tepper’s NFL Training-Site Venture Files for Bankruptcy (The Wall Street Journal)
A real estate venture backed by David Tepper, the billionaire hedge-fund manager and owner of the Carolina Panthers, filed for bankruptcy after a deal with local authorities to build a new training facility for the football team fell apart. Mr. Tepper’s GT Real Estate Holdings LLC filed for chapter 11 protection on Wednesday to ensure that contractors’ claims “are processed as fairly and expeditiously as possible under a court-supervised process, and to achieve the project’s orderly and safe wind-down,” a spokesman said.
An ETF To Invest In Like Billionaire Fund Manager Ray Dalio (Investing.com)
Ray Dalio, founder and co-chief Investment Officer of Bridgewater Associates, is one of the most widely followed investors worldwide. His strategy mainly relies on big-picture long-term trades founded on his outstanding global macroeconomic view. He is also known for the “All Weather” concept, which relies on allocating risk rather than capital. As such, the billionaire investor has navigated numerous economic cycles over the decades, and his portfolio performed relatively smoothly in market downturns.
Hedge-Fund Trader Facing Danish Tax Fraud Charges Arrested in Dubai (Bloomberg)
Hedge-fund trader Sanjay Shah was arrested in Dubai this week for possible extradition to Denmark, where Shah faces charges in connection with a $1.9 billion cum-ex case, the government said. “We will push for an extradition as soon as possible,” Danish Foreign Minister Jeppe Kofod said in a tweet on Friday. The Danish broadcaster DR reported that a local judge will soon decide if Shah is to be handed over to Danish authorities.
Deerfield Raises $1.6bn for New Healthcare Oriented Private Investment Fund (Opalesque)
Deerfield Management, a venture capital firm based in New York, has launched Deerfield Private Design Fund III, an investment fund designed to provide flexible private financing to healthcare companies. According to a press note from the investment firm, the fund has approximately $1.6 billion in committed capital. “The mission of Deerfield Private Design III is to advance all aspects of medicine and human health. Like Deerfield’s two previous private funds, the new fund will invest in all segments of the healthcare market including biotechnology, pharmaceuticals, medical devices, healthcare services, and animal health,” said the release.