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Hedge Fund News: Kyle Bass, Bill Ackman & Nouriel Roubini

Schulte Roth Adds Hedge Fund Lawyer In London (Finalternatives)
Top hedge fund law firm Schulte Roth & Zabel has added a top hedge fund lawyer to its London office. New York-based Schulte Roth said it had snared Steven Whittaker from Simmons & Simmons. Whittaker will serve as a partner in Schulte Roth’s investment management group, which added 50 new clients in London over the past year. “I am very excited to join Schulte Roth & Zabel, which advises some of the most celebrated names in the European hedge fund industry,” Whittaker said. “I look forward to contributing to the firm’s growth.”

Tocqueville Bullion Reserve Fund Launches With $27M (Finalternatives)
Tocqueville Bullion Reserve, a hedge fund that will invest 100% of its net assets in gold bullion, launched in January with $27 million. The fund, billed as “the first institutional-grade vehicle to offer real ownership of physical gold,” plans to store its purchases in insured, private, non-bank vaults in Switzerland, Singapore, Hong Kong and the U.S.—locations chosen for their “close proximity to the most liquid global bullion markets.” Tocqueville Asset Management senior executive John Hathaway is a managing director of the new fund, along with Simon Mikhailovich and Michael Sollot, co-founders of Eidesis Capital, a special situations-focused asset management firm. Prior to Eidesis, the two served as portfolio managers at Falcon Asset Management, a wholly owned subsidiary of USF&G Corp.

Roubini: ‘Many Emerging Markets Are in Real Trouble’ (MoneyNews)
The turmoil of emerging markets during the past couple weeks points to the deep economic problems many of those nations face, says Nouriel Roubini, an economist at New York University. “Many emerging markets are in real trouble,” he writes in an article for Project Syndicate. “The list includes India, Indonesia, Brazil, Turkey and South Africa (the ‘Fragile Five’), because all have twin fiscal and current-account deficits, falling growth rates, above-target inflation and political uncertainty from upcoming legislative and/or presidential elections this year.”

Ackman’s Pershing Square posts 3.8 pct gain in January (MSN)
Billionaire investor William Ackman’s fund surged 3.8 percent in January, handily beating the stock market’s decline and taking some of the sting away from last year, when losing trades involving J.C. Penney Company, Inc. (NYSE:JCP) and Herbalife Ltd. (NYSE:HLF) dragged on his fund’s performance. Ackman’s $12 billion Pershing Square Capital Management told clients that its Pershing Square LP fund gained 3.8 percent, after fees, last month according to a performance update sent to investors earlier on Tuesday and seen by Reuters.

Watch This CEO Make Jay-Z Go Wild On Stage As He Sings Frank Sinatra’s ‘New York, New York’ (BusinessInsider)
David Weinreb, CEO of The Howard Hughes Corporation, was pulled on stage at Jay-Z and Beyonce’s Super Bowl after-party to sing. Weinreb, 48, performed Frank Sinatra’s “New York, New York” and it was incredible. Even Jay-Z started jumping up and down when he was hitting his notes. …A year ago, the Howard Hughes Corporation was called one of the “best kept secrets on Wall Street,” by hedge fund manager Bill Ackman. Ackman, who runs Pershing Square, is the chairman of Howard Hughes’ board and his hedge fund owns a big stake.

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