Hedge Fund News: Crispin Odey, John Paulson & Paul Singer

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Crispin Odey’s £150,000 palatial chicken coop dubbed ‘Cluckingham Palace’ is complete – but with hedge issues (WesternDailyPress)
A mega-rich banker has finished building a £150,000 palatial chicken coop dubbed ‘Cluckingham Palace’, it has been reported. Hedge-fund manager Crispin Odey has completed the giant chicken house built in the grounds of Grade II-listed home at English Bicknor in the Forest of Dean, the Daily Telegraph reported. Top London architects Christopher Smallwood were hired to design the posh poultry pad – is built from the finest Forest of Dean sandstone, which costs £130,000 alone.

Crispin Odey

Wolf Hedge Unveils Macro Fund (Fnalternatives)
Wolf Hedge has doubled its hedge-fund offerings. The firm recently launched its second hedge fund, Wolf Hedge Global. The macro vehicle will invest in a wide area of asset classes, including stocks, exchange-traded funds, currencies, bonds and insurance products. “Our focus will still be in long/short but in a bigger and broader universe,” CEO Mark Malik said. “We will invest internationally.” “We have a robust-tested long/short strategy, and it is now time to utilize that in international markets.”

‘Bad boy’ of hedge fund world takes 11% stake in WH Ireland (CityWire)
Hedge fund manager Reade Griffith – described by Forbes as the ‘bad boy’ of the industry due to his sometimes controversial approach – has taken a chunky stake in turnaround story WH Ireland. Griffith took an 11% exposure to WH Ireland via derivatives, equivalent to 2.67 million shares worth £2.39 million at a share price of 90p. While that is down sharply from a March high of 140p it remains 51% up over the last three years. The manager has drawn flack by funding the expansion of his business with fees gathered on a fund which had gated investor cash, and has tangled with the boards of several high-profile investments.

Hedge fund reinsurer Till Capital agrees purchase of Omega Insurance (Artemis)
Bermuda domiciled hedge fund style reinsurance and hybrid investment platform Till Capital Ltd., has now signed a definitive agreement to acquire Toronto-based insurance provider Omega Insurance Holdings, Inc. It’s the latest step in the growth and diversification of the Till Capital platform, which has been set up and structured using a Bermuda Class 3A reinsurer, named Resource Re, in order to produce underwriting profits and to outperform on the asset management side of the business as well.

John Paulson’s Advantage: Alibaba Investments (InstitutionalInvestorsAlpha)
At least one hedge fund manager appears to have made big money from the initial public offering of Chinese e-commerce company Alibaba Group Holding Ltd (NYSE:BABA). John Paulson‘s New York-based hedge fund firm, Paulson & Co., invested in the company’s IPO, which played an outsize role in Paulson’s performance in September and the year to date, according to its third-quarter letter to investors obtained by Alpha. In September the nonrestricted shares of the firm’s Paulson Advantage funds gained about 8.5 percent, while the nonrestricted shares of Advantage Plus funds – which have 1.5 times the exposure of the Advantage funds – did even better.

Hedge funds in liquidation mode (CNBC)






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