Hedgebay launches electronic settlement service for hedge fund secondary market (HedgeWeek)
Hedgebay Trading has launched an electronic settlement service for the hedge fund secondary market. The new electronic functionality will be available on Hedgebay’s website and will assist in the settlement process. The service is expected to initially reduce overall trading time by up to an estimated 20 per cent. Currently, secondary market participants rely on a manual trading and settlement process. Typically, a transaction takes at least 90 days to close.
George Soros, Goldman Sachs poised to win big on a 2009 bet most investors would not have touched with a 10-foot pole (FinancialPost)
Goldman Sachs Group, Inc. (NYSE:GS), JPMorgan Chase & Co (NYSE:JPM) and billionaire George Soros are poised for gains from a housing bet placed in the depths of the financial crisis. Essent Group Ltd., the Bermuda-based mortgage insurer that raised US$500 million from a group including those backers in 2009, filed last week to sell shares in the first initial public offering of a home-loan guarantor in almost two decades.
Icahn reshuffles control of American Railcar Leasing (StlToday)
Carl Icahn has reshuffled the ownership structure of American Railcar Leasing, or ARL, in a complicated deal that frees up more than $600 million for the billionaire investor. St. Charles-based ARL is controlled by Icahn through a business called IRL. ARL leases railroad cars and tankers built by American Railcar Industries Inc., a St. Charles-based manufacturer that is also controlled by Icahn, but through a different business, publicly-traded Icahn Enterprises L.P. Icahn Enterprises also has separate railcar-leasing unit, AEP Leasing, that holds a management contract with ARL to help AEP lease railcars.
The Reinvention of Thomas Sandell — as a Shareholder Activist (InstitutionalInvestorsAlpha)
Earlier this week a hedge fund manager disclosed a sizable stake in Bob Evans Farms and recommended a series of actions to lift its stock price. But the man behind the headlines was not one of the usual six or eight activist suspects. Rather, it was an old name that has seemingly faded from the public consciousness — Thomas Sandell of New York–based Sandell Asset Management Corp. Although the 52-year-old has been running his hedge fund firm for 15 years, he has kept a somewhat low profile in recent years…
Japan opens door to foreign hedge funds (eFinancialNews)
There are about 55 hedge funds registered with a Japan-based head office, while only about 20 funds are domiciled in the country, according to data provider Eurekahedge. The changes introduced in April 2012 by Japanese regulator, the Financial Services Agency, for funds targeting institutional investors included easing requirements for capital and the number of employees, relaxing some of the regulatory burden for fund management companies in Japan. In the wake of the shake-up, hedge fund Edgebell Capital registered as an institutional vehicle in Japan.
China investment opportunities today: Jim Rogers (Mining)
A number of emerging markets have entered rough economic waters but there’s still plenty of opportunity to go around, particularly in China, Jim Rogers told Mamta Badkar of Business Insider. Rogers warned investors not to be flaky – to try to understand Chinese development in historical context: “In the 19th century in America, we had 15 depressions, with a ‘d’, and yet we became the most exciting and successful country in the 20th century.” “China’s gonna have a lot of problems. I don’t know what or when or why, but I know it’s coming. But when they happen, take advantage of the opportunity, don’t throw up your hands and say ‘oh gosh, now I’m going to Denmark to learn Danish’ or something.”
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