Dalio’s Bridgewater Fund Said to Rise 8.3% in January (Bloomberg)
Ray Dalio’s Bridgewater Associates posted an 8.3 percent gain in January in one of its hedge funds, according to a person familiar with the matter. The $160 billion Westport, Connecticut-based firm posted the gain in its Pure Alpha II fund, said the person, who asked not to be identified because the information is private. The fund rose 3.6 percent last year and has posted an annualized return of 13 percent since inception in 1991. Bridgewater, which invests globally across asset classes based on macroeconomic themes, beat rivals amid volatile markets. Funds that base their investments on macro trends rose 2.6 percent on average in January, the best monthly return since December 2010, according to Chicago-based Hedge Fund Research Inc.
Icahn to Get Boards Seats in Settlement With Manufacturer Manitowoc (New York Times)
First, the Manitowoc Company announced that it would split itself in two, after facing pressure from two of the most prominent activist shareholders around. Now, the manufacturer, based in Wisconsin, has struck a formal peace agreement with one of them, the billionaire Carl C. Icahn. Manitowoc said on Monday that it would give Mr. Icahn a seat on both its own board and that of the food service division that it plans to spin off as an independent company next year.
Paulson Hedge Funds Mostly Rise in January After ’14 Losses (Bloomberg)
Billionaire John Paulson saw gains in almost all his hedge funds in January with the highest returns in his merger strategy, which comprises about half the firm’s $18 billion of assets, according to three people with knowledge of the performance. Paulson & Co.’s Paulson Partners fund rose 1.1 percent last month, with a leveraged version rising 2.6 percent, said one of the people, who asked not to be identified because the results are private. The New York-based firm’s credit strategy rose 0.8 percent and the Advantage Plus fund was up 1.6 percent, said two separate people.