Hedge Fund News: Phil Falcone, Louis Hanover & Bridgewater Associates

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Phil Falcone may ditch Minnesota Wild for Islanders stake (NYPost)
Minnesota Wild co-owner Phil Falcone might quit his hockey-crazed home state to make a play for the New York Islanders, The Post has learned. If that happens, Falcone would invest in the Islanders alongside friend and fellow Harvard alum Jon Ledecky, who last month led an investor group that purchased a “substantial” minority stake in the NHL franchise, sources said.

HARBINGER

Is menu overload the problem at Olive Garden? (FoodBusinessNews)
For Olive Garden, the chain with unlimited breadsticks and never-ending pasta bowls, a declining performance may be the result of its famous abundance. Too many breadsticks, too much salad dressing and too many menu options were among a list of grievances aired against the casual dining chain in a nearly 300-slide presentation published on Sept. 11 by activist investor Starboard Value LP. The New York-based hedge fund, which owns approximately 8.8% of Olive Garden’s parent company Darden Restaurants, Inc. (NYSE:DRI), proposed a comprehensive operational improvement plan for the Orlando-based operator ahead of its annual meeting in October.

Hedge fund Marathon hires new co-head of emerging markets (Reuters)
Hedge fund Marathon Asset Management said on Monday that is beefing up its emerging markets team with two new hires, including Diego Gradowczyk as co-head of emerging markets. At Marathon, which oversees $12.5 billion in assets, Gradowczyk will be a senior managing director and join Gabriel Szpigiel in running the firm’s emerging market investments. Gradowczyk comes from Barclays, where he worked since 2001, and was most recently the group’s head of emerging markets trading. Marathon, founded by Bruce Richards and Louis Hanover 16 years ago, has been in the news in the last years in part because it was one of a small number of firms picked by the U.S. government to help revive the mortgage-bond market after the financial crisis.

Hedgies Rock Out For Children’s Charity (Finalternatives)
It’s that time of year again—when hedgies trade in their spreadsheets for guitars and rock out for a good cause. The 11th annual Hedge Fund Roctoberfest, a charity concert featuring industry professionals, happens Wednesday, October 22, on 130 Bowery in New York City. As always, proceeds will go to children’s charity A Leg To Stand On, which provides prosthetic limbs and corrective, life-altering surgeries to children with limb disabilities in emerging market countries.

Ackman’s Pershing Square plans $2 billion Amsterdam fund listing (GlobalPost)
Pershing Square Holdings, a fund managed by activist investor Bill Ackman, hopes to raise $2 billion from a listing on the Euronext Amsterdam stock exchange, the company said in a statement on Monday. The company expects the fund to have a market capitalization of at least $5 billion after the share offering, which will be priced at $25 a share. New York hedge fund manager Ackman, famed for aggressive moves including a $1 billion bet against US nutrition firm Herbalife Ltd. (NYSE:HLF), is currently engaged in a battle to broker a sale of Botox maker Allergan, Inc. (NYSE:AGN) to Valeant Pharmaceuticals Intl Inc (NYSE:VRX).

Pershing plans to go public (CNBC)






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