China wealth fund eyes European hedge fund investment (IPE)
China Investment Corp., which has a 12.7% allocation to absolute return investments, is close to making a hedge fund investment in Europe. Roslyn Zhang, MD of Fixed Income and Absolute Return Investments, says the Chinese sovereign wealth fund has been spending more time looking at Europe. “From the intelligence we gathered from managers, we had been lacking in confidence to pull the trigger, but now we feel we are getting closer to the point of taking action.” CIC has been looking at European investments for the past two years, particularly distressed assets, she adds without elaborating. “Distress is a broad category.”
SAC Says Three Portfolio Managers Left Hedge Fund Firm in London (BusinessWeek)
SAC Capital Advisors LP, the $14 billion hedge-fund firm founded by Steven A. Cohen, said three portfolio managers in London left last month. Woei Chan, Alidod Shirinbekov and Paul Crouch departed on Sept. 26, according to filings at the U.K.’s Companies House. The three quant traders, who bought and sold stocks based on signals from computer models, were among 18 partners at SAC Global Investors LLP, the hedge-fund firm’s London unit, at the end of 2012, filings show. The traders couldn’t be located through U.K. directory assistance and they didn’t reply to e-mails sent through LinkedIn.
Unhedged Commentary: Why Advertising Won’t Work — and Knowledge Will (InstitutionalInvestorsAlpha)
When the Securities and Exchange Commission decided recently to lift its 80-year-old ban on advertising by hedge funds and private equity firms, Twitter erupted with spoof slogans — such as “Fee all that you can fee” (@SconsetCapital) and “There is no information quite like inside information” (@Tradingpoints). Who knew industry insiders had such a sense of humor? But seriously, before we laugh off advertising, let’s take a moment to consider just how big an impact the Jumpstart Our Business Startups (JOBS) Act could have on firms and investors.
ValueAct Boosts Rockwell Collins Stake (InstitutionalInvestorsAlpha)
Jeffrey Ubben’s ValueAct Capital, which has gained widespread attention for its activist stake in Microsoft Corporation (NASDAQ:MSFT), has upped its position in another of its core holdings. The San Francisco–based hedge fund firm lifted its ownership in Rockwell Collins, a supplier to airplane manufacturers, to 13.1 million shares from 11.2 million at the end of the second quarter, paying from $69 to $75 for shares between August 8 and September 26. As a result, ValueAct — which traditionally runs a concentrated portfolio of 14 to 18 stocks…