BOSTON (Reuters) – Activist hedge fund Marcato Capital Management, backed by Blackstone Group and billionaire William Ackman, is shutting down as assets have shriveled after two years of poor returns, sources said on Sunday. FILE PHOTO: Blackstone Group CEO and Co-Founder Steve Schwarzman speaks at a Reuters Newsmaker event in Continue Reading
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Exclusive: Hedge fund D.E. Shaw to push for break-up of Emerson – sources
FILE PHOTO: A worker assembles an industrial valve at Emerson Electric Co’s factory in Marshalltown, Iowa, U.S., July 26, 2018. REUTERS/Timothy Aeppel/File Photo (Reuters) – Hedge fund D.E. Shaw & Co is building a stake in Emerson Electric Co (EMR.N) and is planning to push for changes, including a potential Continue Reading
Hedge fund-backed reinsurance duo poised for performance uptick: Barron’s
NEW YORK (Reuters) – Two reinsurance firms backed by prominent hedge funds are considered good investments as their share price performance has yet to benefit from the sector’s improved pricing outlook, according to Barron’s. Both Greenlight Capital Re and Third Point Reinsurance, linked to David Einhorn’s Greenlight Capital and Dan Continue Reading
Judge rules against hedge funds that challenged 2016 Jarden deal
WILMINGTON, Del. (Reuters) – A Delaware judge ruled against hedge funds on Friday that tried to get more cash out of Newell Brands Inc’s (NWL.O) 2016 acquisition of consumer goods company Jarden Corp, the latest setback for a once-popular investment strategy known as appraisal. Vice Chancellor Joseph Slights of the Continue Reading
Reinsurance hedge fund Tangency Capital raises further $165 million
LONDON (Reuters) – Hedge fund Tangency Capital has raised a further $165 million to invest in the property reinsurance market, bringing its size to $265 million as the hurricane season gets under way, one of its co-founders told Reuters on Wednesday. Insured losses from natural catastrophes totaled more than $200 Continue Reading
Hedge fund chief Daniel Loeb opposes United Technologies, Raytheon merger
BOSTON (Reuters) – Billionaire investor Daniel Loeb said on Friday that his hedge fund Third Point LLC will vote against the planned merger of United Technologies Corp (UTX.N) and Raytheon Co (RTN.N), saying there is no “strategic rationale for this transaction.” FILE PHOTO: Daniel S. Loeb, founder of Third Point Continue Reading
Scaramucci celebrates hedge funds in Vegas at SALT with less glitz
LAS VEGAS (Reuters) – After a one-year pause, the hedge fund industry schmooze fest organized by Anthony Scaramucci, the investment manager who briefly served as President Donald Trump’s communications director, returned to the Las Vegas strip this week. FILE PHOTO: Anthony Scaramucci, managing partner of Skybridge Capital, speaks at the Continue Reading
Human hedge fund managers embrace robot-rival tools to amp returns
BEVERLY HILLS, Calif. (Reuters) – Traditional stock-pickers in the hedge fund world have been struggling to justify their expenses and weak returns in recent years, as low-cost algorithmic funds have done better. Now, human managers are starting to embrace the technologies employed by their robot rivals to improve results. FILE Continue Reading
Hedge fund Vor Capital secures investment from Borealis Strategic: sources
BOSTON (Reuters) – Borealis Strategic Capital Partners, which invests in new hedge funds, has written its first check to commit capital to Europe-oriented stock fund Vor Capital, two people familiar with the matter said on Friday. Vor Capital launched a year ago with a plan to invest in mid-sized European Continue Reading
Collapsed hedge fund Columna sues Permira-backed former managers
LONDON (Reuters) – The new managers of Columna Commodities Fund, a Luxembourg hedge fund which went into liquidation in early 2017, have said they are suing its former managers Alter Domus for $56 million in lost assets and fees. Columna, launched in 2013, was a top-performing fund in a stable Continue Reading