Hedge Fund News: Dan Loeb, Michael Price, Herbalife Ltd. (HLF)

…the firm didn’t start actively trading with it until November. According to Eric Crittenden, Longboard’s director of research, they needed to work through some kinks first.

SAC Bought Skechers Stake Before KPMG Scandal Broke (FINalternatives)
While the focus of this week’s KPMG kerfuffle has been on nutritional supplements company Herbalife Ltd. (NYSE:HLF), subject as it is to a battle of wills between Pershing Square Capital Management’s William Ackman and Carl Icahn, a second company—shoemaker Skechers—is also caught up in it. And Skecher’s newest investor is none other than SAC, which announced a 5.1% stake in the company after the markets closed on Monday.

Citadel’s Global Credit Co-Head Thompson Quits Hedge Fund (San Francisco Chronicle)
Thompson, who is departing this week, quit to be with family in Virginia, Katie Spring, a spokeswoman for Chicago- based Citadel, said by e-mail today. Ryan Garino and David Grossman will continue to run the group. He started at Citadel in 2008 as a credit portfolio manager and had previously worked at New York-based hedge fund King Street Capital Management LP.

Jenner Said to Raise $100 Million for Health-Care Fund (Bloomberg)
Kris Jenner, the former top stock picker at T. Rowe Price Group Inc., has raised more than $100 million for a hedge fund to invest in health-care and biotechnology stocks, according to a person with knowledge of his plans. Jenner will start the fund, named Rock Springs Capital and based in Baltimore, later this year and is continuing to seek commitments from investors, said the person, who asked not to be named because the information isn’t public. Jenner will run the fund with Mark Bussard and Graham McPhail, former T. Rowe Price analysts who left with Jenner in February, the person said. Jenner declined to comment on the fund.

Herbalife (HLF) Bet Was a Big Winner for Third Point in Q1 (StreetInsider.com)
Dan Loeb’s Third Point LLC hedge fund said its long bet on Herbalife Ltd. (NYSE:HLF) was one of the fund’s top five winners in the first quarter.

Hedge fund Atyant says gold stocks are finally liquidating (Opalesque)
After waiting “patiently for four years,” gold stocks are now finally liquidating, said Vedant “VK” Mimani, managing director at Atyant Capital, a specialty investment manager that focuses on the Indian equity markets and precious metals. “From 2011 to present, gold stocks have been annihilated (down 45-75%, depending on your index) and today, April 3, 2013, they are being liquidated. We are now buyers,” added Mimani in his monthly letter to investors. Atyant manages the Atyant Capital Global Opportunities Fund LP.