Hedge Fund News: Phil Falcone, Marc Lasry & Daniel Loeb

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Georgia won’t rush down the aisle with her millionaire beau (Herald)
FHM model Georgia Salpa may be happily engaged to her millionaire boyfriend, but she is in no rush down the aisle. British hedge fund manager Joe Penna went down on bended knee last December and popped the question to the 28-year-old Killiney native. But although her fellow models Rosanna Davison and Glenda Gilson are getting hitched this summer, Georgia won’t be following suit. The Kim Kardashian lookalike has told pals that she has “no plans” put in place yet and would favour a long engagement.

Billionaire Marc Lasry on the Hook for $200M (JewishVoiceNY)
Marc Lasry is not planning to go away quietly after losing more than $200 million in the bankrupt sandwich chain Quiznos. The New York Post has reported that the hedge fund billionaire’s Avenue Capital and Wes Edens’ Fortress Investment Group, co-owners of the chain, have claimed in court papers that the sandwich business failed “because they were scammed in 2012 by the company’s former owners.” Rick Schaden and his father, Richard, are said to have used two forecasting models for their 2012 restructuring of the company. However, they only revealed the “model that contained inaccurate and inflated data,” the current co-owners claimed in a bankruptcy court filing, the New York Post reported on Tuesday, March 18.

Icahn Calls For Ebay To Spin Off 20% Of PayPal In An IPO (Forbes)
Carl Icahn fired off another letter to eBay Inc (NASDAQ:EBAY) -1.09% shareholders today, purposing that it spin off 20% of its PayPal division in a public offering. Icahn held back the verbal punches he’s thrown at eBay CEO John Donahoe and board members Marc Andreessen and Scott Cook in previous letters, and instead laid out reasons why he believes the 20% spin off would be good for eBay, PayPal and shareholders. Some ideas where spot on, others might have missed the mark. First, here’s Icahn’s arguments for an eBay / PayPal spin off:

Marathon Asset ‘Hates High Yield,’ COO Andrew Rabinowitz Says (Bloomberg)
Marathon Asset Management LP, a hedge-fund operator that manages about $10.5 billion, is betting prices will fall in the high-yield, high-risk bond market because interest rates and defaults probably will rise. “We hate high-yield — we’re actually short high-yield,” Andrew Rabinowitz, Marathon’s chief operating officer, said today on a panel at the Absolute Return Symposium 2014 in New York today. “It’s trading at dangerous levels.”

Wall Street Veteran Stephen Weiss Preps New Fund of Funds (InstitutionalInvestorsAlpha)
Veteran Wall Streeter Stephen Weiss, best known these days for his regular appearances on CNBC, is launching a new fund of hedge funds. Weiss is raising money for Short Hills Investment Partners L.P. and an offshore version, according to a regulatory filing. It is said to be a fund of funds that will specialize in long-short managers, according to a person with knowledge of the fund. A very well-known hedge fund manager is one of the fund’s primary investors, according…

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Coliseum Capital Initiates 6.2% Position in Medifast Inc (MED)

Relational Investors Sell Some Shares of SPX Corporation (SPW)

Cove Street Capital Ups Stake in Signature Group Holdings, Inc (SGGH)



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