Carl Icahn Sells Half His Stake In Hain Celestial Group For $292 Million (JewishBusinessNews)
Stock picking is something of an art, and will always be very far from a science, but private equity king Carl Icahn seems to pick many more winners than losers these days. On Tuesday it was announced by The Hain Celestial Group, Inc. (NASDAQ:HAIN), a producer of organic and natural foods, that Icahn is selling about half of his shares in the company. In the press release Hain said that Icahn and his related companies have now sold 3,650,000 shares of common stock in the Lake Success, New York, company to an investment bank Jefferies LLC.
Goldman Said in Talks With GIC, Blackstone on Rothesay Stakes (Businessweek)
Goldman Sachs Group, Inc. (NYSE:GS) is in talks to sell a majority stake in its European insurance business to Singapore’s GIC Pte and The Blackstone Group L.P. (NYSE:BX), according to a person with knowledge of the transaction. Both GIC, Singapore’s sovereign wealth fund, and The Blackstone Group L.P. (NYSE:BX), the world’s biggest private-equity firm, may each buy a stake of about 30 percent in Rothesay Life Ltd., a London-based insurer run by Goldman Sachs partner Addy Loudiadis, said the person, who asked not to be identified because the negotiations are private. Massachusetts Mutual Life Insurance Co. may also buy 6 percent, the person said.
Herbalife signs up big-shot lobbyists (NYPost)
Herbalife Ltd. (NYSE:HLF) is prepping for war in Washington. The controversial multi-level marketing company led by CEO Michael Johnson has added the Podesta Group, a high-powered DC lobbying firm run by Tony and John Podesta, to its growing list of lobbyists. …Hedge-fund activist Bill Ackman has been pressing for Washington to shut Herbalife down — accusing the Los Angeles distributor of nutritional supplements of being a pyramid scheme. Herbalife Ltd. (NYSE:HLF) has denied the accusation.
Hedge fund industry sets out policy principles (GlobalInvestorMagazine)
The Alternative Investment Management Association (Aima) has published an enhanced statement of policy principles covering investor protection, regulatory consistency, systemic risk and market integrity. The paper, Regulating Capital Markets: AIMA’s Policy Principles, sets out Aima’s views on improving investor protection, the segregation and protection of investor assets and collateral and calls for regulation reflect the difference between retail and professional investors.
Pine River Preps $150M China Hedge Fund (Finalternatives)
Pine River Capital Management will launch a China-focused hedge fund next month with as much as $150 million in initial capital. The Minnesota-based hedge fund, which has more than doubled its assets under management over the past two years to $13.6 billion, expects the China Fund to debut with at least $100 million. The fund will be managed by Dan Li, its co-head of Asian trading. Li joined Pine River last year from Magnetar Capital, where he led its China business from 2005 through 2011, and formerly worked at Citadel Investment Group.
Hedge fund haul (CNBC)