Western Areas Shareholder Says IGO Should Up Bid or Fold Wyloo Joint Venture (AFR.com)
London hedge fund Odey Asset Management reckons IGO’s joint venture with Andrew Forrest’s Wyloo Metals short-changes minority shareholders in IGO’s $1.07 billion bid for Western Areas. To recap, IGO and Wyloo struck a 70:30 joint venture to explore downstream nickel processing on February 17. In tandem, Wyloo (a 9.8 per cent shareholder at Western Areas, who investors had hoped would launch a competing bid) pledged support for IGO’s December bid.
Hedge Fund Managers Taking Bigger Steps into Cryptocurrency (CryptoNewsBTC)
One of many business’s largest hedge fund managers, Chicago-based Citadel Advisors LLC, which managed $47 billion as of March 31, is “not one of many corporations that could be dipping their toes into cryptocurrency,” stated Zia Ahmed, an organization spokesman, in an electronic mail. Nevertheless, the agency’s sister firm, market maker Citadel Securities LLC, will add cryptocurrency buying and selling, stated Kenneth C. Griffin, founder and CEO of Citadel, in a March 1 Bloomberg video interview.
Billionaire Investor Ray Dalio Predicts A New World Order: Our Top Pick (Seeking Alpha)
Ray Dalio – head of the world’s largest hedge fund – recently predicted that a new world order is coming. Along with predicting increasing confrontation and even conflict between the existing dominant power (the United States) and the rising great power (Communist China), his analysis concludes that we are in a period where burdensome sovereign debt, massive money printing, and large wealth gaps will likely become further exacerbated.
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Scoop: Westbeck Fund Raises $10M as Oil Prices Surge (AXIOS)
Westbeck Capital Management raised just over $10 million in additional funding for its Energy Opportunity Fund, Megan reports. Why it’s the BFD: As global oil prices skyrocket, Westbeck needs to deepen its coffers to remain competitive. Context: Westbeck Capital Management is a London-based commodities-focused hedge fund managed by Jean-Louis Le Mee and William Smith. It launched its Energy Opportunity Fund with $100 million in 2016.
Coatue Hedge Fund Investors Seek to Redeem $250 Million, But Can’t Cash Out in Full (Bolly Inside)
Coatue Management investors are pulling $250 million from the company’s main hedge fund. Yet, they will not get all the cash they’re requesting. Assets put resources into privately owned businesses will be kept by Coatue and set in a side-pocket, as per individuals familiar with the matter. That adds up to 13% of the money being looked for by clients – – a total of $33 million. A representative for Philippe Laffont’s New York-based Coatue, which oversaw about $59 billion as of Dec. 31, declined to remark.
