Hedge Crunch FinancialIn the News
Superstar Hedge Managers Facing Hemorrhaging Funds
The Wall Street Journal reported last week that David Einhorn’s Greenlight Capital lost $400 million from its investor base in response to a depressing 2 percent loss during the first half of 2017. The return of $400 million represents 15 percent of all those who are able to withdraw their stakes in Greenlight, according to […]
The Top Hedge Fund Earners of 2016
We mean who brought home the most money, and not necessarily had the best returns, although these often go together considering the fees managers charge for performance. Broadly speaking the hedge fund industry had lackluster year, but at least the numbers are black. Hedge Funds returned 5.4 percent, kind of anemic compared to the robust […]
Chinese Group Buying Majority Stake in Old Mutual
The HNA Group Co, a China-based conglomerate, has agreed to purchase a quarter stake in the US asset management unit of Old Mutual Plc. The deal is valued at about $446 million, and continues on the path of a busy year for HNA, which spent $30 billion last year in acquisitions. The sale is part […]
What’s in a Name? Could be Big Bucks
For some observers the appeal of hedge funds as investment vehicles seems a bit inexplicable. The news about these alternative funds is that they charge high maintenance fees and do not deliver returns commensurate with those fees. Yes, there has recently been an exodus of sorts from these funds, but they are still a powerful […]
Former Cohen Manager Snagged by Millennium
One of the largest hedge funds in the industry, Millennium Management, recently hired Ariel Masafy, an ex-portfolio manager for Steve Cohen’s alternative investment firm. Masafy worked predominantly with consumer stocks. He worked for Cohen since 2011, managing about $11 billion. Employment changes by portfolio managers is of great concern to Wall Street observers. Poor showings […]
Blue Nile Announces Acquisition
In recent news, online jeweler Blue Nile announced the acquisition of the company by an investor group, which was comprised of Bain Capital Private Equity, Bow Street and Adama Partners. The transaction was approved by Blue Nile’s shareholders on February 2, 2017. As the Blue Nile Chairman, CEO and President Harvey Kanter explained, “Blue Nile […]
Trump Backer Helped UK Pass Brexit
Billionaire Trump supporter and US hedge fund manager Robert Mercer, not only helped finance the President’s campaign, but also played a crucial part in the UK’s vote to exit the European Union. Owner of the right-wing news organization Breitbart, Mercer is suspected of using his data-analytics firm, Cambridge Analytica, to give expert advice to the […]
Connecticut Governor Urges Lawmakers to Wait for Trump to Tax Hedge Fund Managers
Governor Dannel P. Malloy of Connecticut, the nation’s second largest hedge fund state, urged law makers to hold off on eliminating the “carried interest” tax break, which benefits hedge fund managers. He told them it would be more prudent for the law’s liberal sponsors to allow the new President Trump to make good on his […]