Eric Mindich Increases Stake In Riverbed Technology (GuruFocus)
Eric Mindich (Trades, Portfolio), founder of hedge fund Eton Park and famous for becoming at age 27 the youngest partner at Goldman Sachs Group, Inc. (NYSE:GS), increased his stake in Riverbed Technology (RVBD) on Sept. 18, according to GuruFocus Real Time Picks. Eton Park describes itself as a “global, multi-disciplinary, team-oriented investment organization with the goal of providing investors with superior, risk-adjusted returns over the long-term.” Mindich purchased 6,050,000 shares, representing a 205.06% increase to his existing stake and rounding out his holding at 9 million shares in total. He has owned the stock since the second quarter of 2014, when the price averaged $20 per share.
Hedge fund managers to increasingly defer performance fee pay-outs (COOConnect)
The decision by California Public Employees’ Retirement System (CALPERS) to exit hedge fund investing coupled with the Internal Revenue Service’s (IRS) ruling that now permits managers to charge performance fees cumulatively without falling foul of a 2008 tax law change, could lead to more firms deferring performance fee pay-outs. The IRS Ruling 2014-18 published in June 2014 clarifies certain types of cumulative incentive fees are compliant with Section 457A, a 2008 law that curtailed the ability of offshore entities such as hedge funds from using deferred compensation arrangements, a measure that had been introduced when Congress passed the Emergency Economic Stabilisation Act…
Emerging Polish hedge fund bets on technology stocks and developed markets (Opalesque)
Here is a rare Polish hedge fund which combines multi-strategy and global macro approaches and outperforms its peers thanks to original tactics. Macromoney, a fund manager focused on concentrated investments in securities, futures and options listed on the main stock exchanges, is a BVI-based firm founded in 2012 with fund administration in London, prime broker services in New York, and operational offices in Warsaw, Poland. Macromoney’s founder is Maciej Wisniewski, an investment professional with 20 years of experience.
Lansdowne Plans Energy Hedge Fund (Finalternatives)
Lansdowne Partners is set to launch an energy hedge fund, hiring a manager from the world’s largest sovereign wealth fund to run it. Per Lekander will build the London-based firm’s energy team and manage the new vehicle, Financial News reports. He joins the hedge fund from Norges Bank Investment Management, where he led the utilities team. Lekander, who will be based in London, will work with Rohit Agarwal, who moves to Lansdowne from Pictet Asset Management. Agarwal formerly worked at JPMorgan Chase & Co (NYSE:JPM) and UBS AG (ADR) (NYSE:UBS).
SEC Charges Two in Herbalife Insider Trading Probe (DailyFinance)
U.S. regulators Tuesday charged two men with insider trading after they learned that hedge fund manager Bill Ackman was planning to announce a $1 billion bet against Herbalife Ltd. (NYSE:HLF) based on a view the company was merely a “pyramid scheme.” The Securities and Exchange Commission said that Filip Szymik, 28, learned about Ackman’s plans to announce his short position from his roommate who worked at Ackman’s fund, Pershing Square Management. He then allegedly tipped off Jordan Peixoto, 30, of Toronto, who worked at the time as an analyst in the New York offices of Deloitte & Touche.
Betting on Pimco’s future (CNBC)