Hedge Fund News: Warren Buffett, Steve Cohen, Sprint Nextel Corporation (S)

…800 million euros and, combined with the upcoming sale of Greece’s state-owned natural gas group, constitutes one of the jewels in the country’s much-delayed privatization program. The bids were submitted by Czech-led consortium Emma Delta and U.S. hedge fund Third Point, the Hellenic Republic Asset Development Fund, or HRADF, the privatization agency, said in a statement, without giving further details.

Infinity Pharmaceuticals Inc. (INFI): Billionaire Steve Cohen’ SAC Up to 5% of This Stock (Insider Monkey)
According to a 13G filed with the SEC, SAC Capital Advisors, a hedge fund managed by billionaire Steve Cohen, owned 2.4 million shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI), giving the fund 5% of the total shares outstanding of the $1.9 billion market cap biotechnology company. Infinity Pharmaceuticals Inc. is working on drug development and placing its products in clinical trials, including for patients with arthritis and asthma. Looking at our database of filings, Samuel Isaly’s Orbimed Advisors, which focuses on healthcare investments, increased the size of its position in Infinity by 68% during the fourth quarter of 2012 to a total of 3.2 million shares. Perceptive Advisors, a biotechnology focused hedge funds managed by Joseph Edelman, cut its stake slightly but still closed December with 2.5 million shares in its portfolio.

Hedge Fund Pushes for Change at FairPoint Communications (SECFilings.com)
FairPoint Communications Inc (NASDAQ:FRP), a leading communications provider in northern New England, has undertaken initiatives over the past few months to improve its capital structure and operating performance by, among other things, cutting its workforce. But, at least one hedge fund isn’t satisfied quite yet, and outlined some changes it would like to see made. Maglan Capital LP noted in a recent Schedule 13D filing with the SEC that it was concerned that there’s a “serious discrepancy” between the issuer’s improving prospects and the current valuation of its common stock in the marketplace. In a letter sent on April 11th, the fund outlined these concerns to the board along with several suggestions to remedy the problem.

Barclay Hedge Fund Index gains 1.12 per cent in March (HedgeWeek)
Hedge funds gained 1.12 per cent in March, according to the Barclay Hedge Fund Index compiled by BarclayHedge. The index is up 3.96 per cent year to date, and has enjoyed ten straight months of gains. “The mid-month announcement of a flawed Cyprus bailout plan unsettled global markets and sentiment shifted back to risk-off,” says Sol Waksman, founder and president of BarclayHedge. “Interest rates moved lower and equity markets were muted with the notable exceptions of the US and Japan.