Managers
Activist hedge fund Starboard Value has begun agitating for change at News Corp, including a $7bn (£5.7bn) sell-off of the company’s online property business, having built a stake in Rupert Murdoch’s media empire, according to a report by The Guardian.
A group former Sculptor Capital Management executives led by founder Dan Och has sued the hedge fund and its proposed acquirer Rithm Capital Corp, saying that the $676m is aimed at protecting current CEO Jimmy Levin rather than maximising shareholder value, according to a report by Bloomberg.
The percentage of side letters executed with ‘mature’ hedge fund managers has risen to the highest level seen in eight years, according to the latest edition of an annual study by financial services law firm Seward & Kissel.
James Hanbury, the former Odey AM Portfolio Manager who moved with his fund and team to Lancaster Investment Management in July, is betting against private equity in the belief that falling company valuations and rising interest rates will prove a toxic mix, according to a report by Reuters.
Trian Fund Management, the activist hedge fund firm run by Nelson Peltz, has built a holding in Allstate Corp, one of the insurers impacted by the fallout of natural disasters including the Maui wildfire in Hawaii, according to a report by Reuters.
Hedge fund JAT Capital has warned Overstock.com that it may seek seats on the company’s board if it doesn’t consider selling certain assets and overhauling its management and compensation, according to a report by Reuters.
Sales of food, beverage and tobacco stocks by global hedge funds hit the fastest pace seen in 11 weeks last week, as the yields for US Treasuries surged, according to a report by Reuters, citing data from Goldman Sachs’ prime brokerage division.
Acadian Asset Management, a Boston-based global, quantitative investment manager with around $100bn in discretionary assets under management, is now live on BNY Mellon’s Middle Office services platform.
Hong Kong-based activist hedge fund Oasis Management is line for a potential £40m profit from its holding in The Restaurant Group after private equity major Apollo Global Management made a £506m offer to take the ownership of Wagamama’s private, according to a report by The Financial Times.
Dan Niles, the Co-founder and Portfolio Manager of US-based long-short equity hedge fund the Satori Fund, is maintaining his short position on Tesla despite holding a bullish outlook on the broader market, according to a report by CNBC.
