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Intel
Lauro Asset Management’s David Mercurio has criticised what he called “timid” leadership after Greggs’s shares fell 44% this year, valuing the company at £1.6bn, with almost 10% of the stock is now on loan to short sellers, according to a report by The Sunday Times. Lauro, previously backed by GIC, is one of Greggs’s largest shareholders, and City sources say its concerns mirror those of other long-term investors.
Intel
Boaz Weinstein has revived his effort to replace the board of the Edinburgh Worldwide Investment Trust, less than a year after shareholders rejected similar proposals from his firm, Saba Capital Management, according to a report by Bloomberg.
Intel
Hedge funds ramped up bearish positions on UK domestically focused equities in the run-up to Wednesday’s Budget, according to a report by Reuters citing a Goldman Sachs client note circulated prior to Chancellor Rachel Reeves’s statement.
Intel
Billionaire investor Bill Ackman is targeting a $5bn initial public offering for his US-listed closed-end fund, to be launched alongside an IPO of his hedge fund firm Pershing Square Capital Management, according to a report by Bloomberg.
Intel
Ray Dalio, founder of Bridgewater Associates, has raised serious reservations about the viability of the “pod-shop” or multistrat hedge fund model over the long term, telling Bloomberg’s Odd Lots podcast that while it may work for investment management, it is “not a fine way for building a 50-year-old business.”
Intel
Bill Ackman is preparing a dual-offering structure through his firm Pershing Square Capital Management and a new closed-end investment vehicle, Pershing Square USA, according to a report by the Wall Street Journal citing sources familiar with the matter.
Intel
Hedge funds and institutional investors are continuing their legal challenge to 3G Capital’s $9.4bn acquisition of Skechers USA Inc, after early settlement talks over the value of the footwear maker fell through, according to a report by Bloomberg.
Intel
Activist hedge fund Elliott Management has taken a significant position in Barrick Gold, making it one of the miner’s top ten shareholders with a holding likely worth over $1bn, according to a report by the Financial Times.
Intel
Marshall Wace is planning to return roughly $3.1bn to investors across two of its flagship hedge fund strategies, joining a growing list of major managers choosing to curb asset growth to protect performance, according to a report by Bloomberg.
Insight
In Alternative Views, Hedgeweek goes behind closed doors with those in the know to get the latest on hedge funds. In this episode we speak to Bradley Wickens, Founding Partner of emerging markets-focussed Broad Reach Investment Management, about the opportunities for hedge funds in this space.
