U.S. hedge fund manager Kyle Bass, who won fame for predicting the subprime mortgage crisis in 2008, plans to take on some of the world’s biggest drug producers by challenging the patents of their top brands, he said on Wednesday. Bass, the founder of Dallas-based Hayman Capital Management, L.P., said some drug firms were hanging onto patents in questionable ways and he planned to take around 15 firms into a so called Inter Partes Review (IPR) process created by the America Invents Act. in 2012.
The Children’s Investment Fund, run by star hedge fund manager Chris Hohn, gained about 8 percent last year, a source familiar with the performance said. The fund, best known for undertaking aggressive campaigning to boost company performance, managed about $8 billion last year, a letter to investors obtained by Reuters showed.
Activist investor Starboard Value LP intensified pressure on Yahoo! Inc. (NASDAQ:YHOO) in a new letter urging Chief Executive Officer Marissa Mayer to disclose her plans for assets such as a stake in Alibaba Group Holding Ltd. In the letter, addressed to Mayer from Starboard CEO Jeffrey Smith, the investor said it had become “increasingly concerned” by reports that the Web portal is looking to make major acquisitions.
New York’s financial regulator sent a subpoena to Medley Opportunity Fund II last week as he investigates the hedge fund’s ties to payday lending, a person with knowledge of the matter said. Department of Financial Services Superintendent Benjamin Lawsky is seeking records from the fund on its investments in payday lenders, including lending relationships or joint ventures, said the person, who asked not to be identified because the probe is confidential. The inquiry is in its early stages and may not result in further action, the person said.