Hedge Fund News: George Soros, Warren Buffet, Solomon Kumin

Billionaire George Soros Earmarks $500 Million For Migrants And Refugees (Forbes)
Hedge fund billionaire George Soros said on Tuesday that he is giving $500 million of his nonprofit organization’s funds to be invested on work opportunities for migrants and refugees, especially those arriving into Europe. Soros’ announcement, made in a Wall Street Journal op-ed, comes as the United Nations convenes for its General Assembly in New York City. On Monday it hosted its first forum for Heads of State to discuss how to handle what’s been dubbed the world’s biggest refugee and migrant crisis since World War II. According to the U.N., 65.3 million people have been displaced from their homes by conflict and persecution in 2015.

George Soros

Buffett Investing Deputy Combs Joins JPMorgan Board (Reuters)
Todd Combs, one of Warren Buffett‘s stockpicking deputies at Berkshire Hathaway Inc (BRKa.N), has joined the board of JPMorgan Chase & Co (JPM.N), expanding the conglomerate’s already deep ties to the financial services industry. In a statement on Tuesday, JPMorgan, the largest U.S. bank by assets, said Combs’ appointment took effect on Monday. His committee assignment will be determined later. Combs, 45, has taken a growing role at Berkshire since joining the Omaha, Nebraska-based company in 2010. Buffett has credited him with triggering Berkshire’s largest acquisition, the $32.1 billion takeover in January of aircraft parts maker Precision Castparts Corp.

Kumin’s Folger Hill Hedge Fund Said to Hire First Asia Managers (Bloomberg)
Folger Hill Asset Management, the hedge-fund firm led by former SAC Capital Advisors Chief Operating Officer Sol Kumin, hired the first three fund managers for its Asia business, said people with knowledge of the matter. The firm recruited Nobutaka Ariki, Jinchul Lee and Hillman Wong in Hong Kong, said the people, who asked not to be identified because the information hasn’t been publicly announced. Folger Hill, which oversaw $1 billion at the end of last year, expects the Asia strategy to oversee a few hundred million dollars, said one of the people, who declined to provide additional details.