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Private Equity & Hedge Funds

  • Once an arcane bargain bin where troubled assets were traded for big discounts, the market for secondhand private-equity investments has grown swiftly in recent years and is expected to reach record deal ...

  • The UMJ Galleyla Fund, run by a former Japanese manager at Morgan Stanley Asset & Investment Trust Management Co., returned 18 percent in the first year, outperforming peers on stock bets, a letter to investors showed. The Japan-focused hedge fund, run by Tsukasa Shimoda, started in April 2013 and invested in “undervalued …

  • Chobani said on Wednesday it has received a $750 million investment from private equity firm TPG, in a move that will spare the Greek yogurt company from a serious cash crunch, according to several people familiar with the matter. New Berlin, New York-based Chobani had run into liquidity problems resulting in part from …

  • Seeking to Grow, Chobani Secures $750 Million Loan @ The New York Times - 13 hours ago

    The fresh capital, in a loan from the private equity firm TPG Capital, is intended to help Chobani add new products and expand overseas.

  • Hello, high school juniors. Stressed about graduation next year? Nervous about getting into college? Well Matthew Pittinsky, co-founder of the online education giant Blackboard and current chief executive ...

  • Discovery Capital Management LLC, the $15 billion macroeconomic hedge-fund firm run by Robert Citrone, slumped in April to bring its losses this year to 12 percent, according to an e-mail the firm sent to investors. Class A1 shares of Discovery Global Opportunity Fund Ltd. fell about 4.9 percent this month through April …

  • William A. Ackman’s hedge fund has recently created four subsidiaries — beyond the one that the billionaire activist investor used to build a stake in Allergan.

  • Hedge fund manager Mick McGuire of Marcato Capital Management has taken a new position in Dillard's and is betting the retailer's stock can climb to $155 a share, which would mark a 62 percent gain from its current level. He did not reveal the size of Marcato's stake. Dillard's, which underperformed its peers by 200 percent …

  • Hedge fund manager David Einhorn wrote a letter to clients saying "now there is a clear consensus that we are witnessing our second tech bubble in 15 years." Jim Iuorio, TJM Institutional Services, ...

  • Tony Ressler is catching up with his billionaire brother-in-law Leon Black . Ressler, who plans to raise as much as $419 million in an initial public offering of his credit and private-equity firm Ares Management LP (ARES) three years after Black led Apollo Global Management LLC (APO) down the same path, will have a net …

  • My Herbalife short is looking much better: Ackman

    Bill Ackman tells CNBC that his losses from betting against Herbalife have been "more than cut in half" based on the recent downturn of the company's stock.

  • Hump day. Here's your Wednesday banking roundup: One former Bank of America executive skips jail, one U.S. Attorney's record is in jeopardy and one hedge fund activist comes to the rescue.

  • Australia's Healthscope, put on the block by its private-equity owners in a deal that could be worth $5 billion, has attracted interest from companies in the U.S., China and Malaysia.

  • Einhorned: Stocks jump on new Greenlight stake

    Stocks of SunEdison and Conn's jumped Tuesday on news that David Einhorn's Greenlight Capital had opened new positions in them.

  • David Einhorn Closes Chipotle Short After Losses @ TheStreet.com - 20 hours ago

    David Einhorn of Greenlight Capital has closed a short trade in Chipotle Mexican Grill, after a bet against the popular Mexican restauruant chain gave the hedge funder "gas."

  • Morning Agenda: Big Pharma’s Deal Bonanza @ The New York Times - 22 hours ago

    Pharmaceutical companies are on the prowl for deals. | The Allergan bid charts new territory for takeovers. | Preet Bharara’s perfect record is in jeopardy. | Comcast looks to divest subscribers.

  • The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange

    At least four mid-level executives are leaving Goldman Sachs Group's (NYS:GS) Asia prime brokerage unit to join rival banks, people familiar with the matter said, just as the regional hedge fund industry is starting to pick up. The Goldman unit was biggest firm serving Asia's $159 billion (94 billion pounds) hedge funds …

  • In its latest round of fund-raising, the private equity firm Ardian, formerly known as AXA Private Equity, outpaced the $8 billion it raised in 2012. Ardian was spun off from the French insurer AXA Group ...

  • David Einhorn Just Cried Bubble And Let Slip The Shorts Of War @ TechCrunch - Tue, Apr 22, 2014 8:48 PM EDT

    David Einhorn, a hedge fund manager worth north of a billion dollars, isn't bullish on technology stocks. In a letter to his investors sent today, Einhorn called the current market environment regarding ...

  • Ackman paid Herbalife whistleblower: report @ MarketWatch - Tue, Apr 22, 2014 5:55 PM EDT

    SAN FRANCISCO (MarketWatch) -- Hedge fund manager Bill Ackman agreed to pay an Herbalife whistleblower as much as $3.6 million if the executive lost his job with the nutritional supplements maker, ABC ...

  • [$$] Valeant Pharmaceuticals Popular Among Hedge Funds @ The Wall Street Journal - Tue, Apr 22, 2014 5:48 PM EDT

    Valeant Pharmaceuticals International Inc. and Pershing Square Capital Management's deal for Allergan Inc. on Monday created some big winners, and possibly losers, among hedge funds.

  • "There is a clear consensus that we are witnessing our second tech bubble in 15 years," Greenlight said. "In our view, the current bubble is an echo of the previous tech bubble, but with fewer larger capitalization stocks and much less public enthusiasm." Greenlight admitted that the firm's ongoing short position in Keurig …

  • David Einhorn: 'We Are Witnessing Our Second Tech Bubble in 15 Years' @ The Wall Street Journal - Tue, Apr 22, 2014 5:21 PM EDT

    Hedge-fund manager David Einhorn just joined the growing list of market watchers warning about a market bubble.

  • A sign is pictured outside a CIBC branch in Ottawa

    NEW YORK/TORONTO (Reuters) - Canadian Imperial Bank of Commerce (CM.TO) (CIBC), the fifth largest bank in Canada, and two private equity consortia are exploring offers for global asset manager Russell Investments, according to several people familiar with the matter. Private equity firms CVC Capital Partners Ltd and Silver …

  • Ackman promised Herbalife whistleblower $3.6M: ABC @ CNBC - Tue, Apr 22, 2014 5:16 PM EDT

    Hedge fund manager Bill Ackman promised to pay a disgruntled ex-Herbalife executive as much as $3.60 million over the next 10 years, a report said.

  • Hedge fund manager William Ackman secretly promised a former Herbalife executive-turned-whistleblower as much as $3.6 million in case he lost the job he took after leaving Herbalife, ABC News reported on Tuesday on its website. Ackman, the manager of Pershing Square Capital Management who has heavily shorted Herbalife's …

  • Alex Porter, Hedge Fund Founder From A.W. Jones Era, Dies at 75 @ Bloomberg - Tue, Apr 22, 2014 3:46 PM EDT

    A. Alex Porter, who applied the lessons he learned at the first hedge fund, A.W. Jones & Co., as a founder of what today is Amici Capital LLC, has died. He died on April 18 at his farm in Davidson, North Carolina, according to his niece, Elizabeth Boehmler. The New York-based firm that Porter founded in 1976 as Porter …

  • Einhorn: It's 'Our Second Tech Bubble in 15 Years' @ Barrons.com - Tue, Apr 22, 2014 3:44 PM EDT

    Okay, tech investors, have at it: David Einhorn of Greenlight Capital calls your favorite sector "our second tech bubble in 15 years." Juliet Chung of the Wall Street Journal has the details on Einhorn's investor letter, which reveals the hedge-fund firm lost 1.5% in the first quarter and has been shorting several "high-flying …

  • Einhorn Seeing ‘Cool Kid’ Companies Shows Growing Tech Bubble @ Bloomberg - Tue, Apr 22, 2014 3:14 PM EDT

    Greenlight Capital Inc., the $10.3 billion hedge-fund firm run by David Einhorn , said it was betting against a group of technology stocks as evidence grows of a bubble. “There is a clear consensus that we are witnessing our second tech bubble in 15 years,” the New York-based firm said in a letter to clients today. “The …

  • [video] David Einhorn warns of tech bubble @ CNBC - Tue, Apr 22, 2014 3:14 PM EDT

    Hedge fund manager David Einhorn has sent out Greenlight Capital's quarterly investor letter, reports CNBC's Dominic Chu.

  • Einhorn has down quarter, warns of new tech bubble @ MarketWatch - Tue, Apr 22, 2014 2:51 PM EDT

    David Einhorn’s Greenlight Capital lost money with bets against Keurig Green Mountain and Chipotle Mexican Grill while making money on Micron Technology.

  • Greenlight Capital adds positions in Conn's, SunEdison Reuters - Tue, Apr 22, 2014 2:38 PM EDT

    Greenlight Capital's David Einhorn said in his latest letter to clients on Tuesday that the firm has shorted a group of momentum stocks the firm dubs 'the bubble basket.' Greenlight also said the firm ...

  • Einhorn's Greenlight Lost 1.5% in 1Q, Warns of 'Tech Bubble' @ The Wall Street Journal - Tue, Apr 22, 2014 2:38 PM EDT

    David Einhorn's Greenlight Capital Inc. lost 1.5% in the first quarter and warned about "our second tech bubble in 15 years."

  • David Einhorn's New Letter Is Out And It's Making Some Stocks Go Nuts Business Insider - Tue, Apr 22, 2014 2:21 PM EDT

    Closely followed hedge-fund manager David...

  • Hedge fund manager Jeffrey Ubben, whose firm ValueAct sits on the board of Valeant Pharmaceuticals, said on Tuesday that the hedge fund will not seek reelection on the board in order to devote its time on Microsoft Corp's board. Ubben, ValueAct's chief investment officer and chief executive officer, said that he thinks …

  • HCA among bidders for Australia's Healthscope: report Reuters - Tue, Apr 22, 2014 1:43 PM EDT

    HCA Holdings Inc is among the bidders for Australian hospital operator Healthscope Ltd, which has put itself up for sale, the Sydney Morning Herald reported on Tuesday. HCA, the largest for-profit U.S. ...

  • KKR Has Fivefold Gain in First Property-Investment Sale @ Bloomberg - Tue, Apr 22, 2014 1:19 PM EDT

    KKR & Co. (KKR) ’s sale of a stake in a senior-residence management business, the first exit of a U.S. property deal by the firm’s real estate unit, resulted in a fivefold gain on its investment. The sale of the interest in Sunrise Senior Living LLC’s management unit was completed yesterday, according to statements from …

  • [video] Hedge fund & Valeant team up @ CNBC - Tue, Apr 22, 2014 12:26 PM EDT

    CNBC's Kate Kelly has the latest details on Bill Ackman and Valeant's bid for Allergan.

  • [video] Private Equity Suitors Likely to Flock to H&R Block @ TheStreet.com - Tue, Apr 22, 2014 11:31 AM EDT

    After offloading its bank division, H&R Block Inc. is likely to draw takeover interest from private equity. Berkshire Hathaway Inc. and Thoma Bravo LLC are among those that fit that mold.

  • Hedge funds still loving Japan despite losses @ CNBC - Tue, Apr 22, 2014 11:19 AM EDT

    Hedge fund managers like Eton Park and Eclectica are still bullish on Japan despite a painful start to the year.

  • Carlyle ESG Funds Tumble With Wrong-Way Europe, U.S. Bets @ Bloomberg - Tue, Apr 22, 2014 11:00 AM EDT

    Emerging Sovereign Group LLC, the $5 billion hedge-fund firm owned by Carlyle Group LP (CG), posted losses this year in two of its funds after wrong-way bets on emerging markets, Europe’s recovery and U.S. Treasuries . The ESG Credit Macro Event Master Fund fell about 6 percent this year through April 11, according to …

  • [video] The evolving hedge fund Japan trade @ CNBC - Tue, Apr 22, 2014 11:00 AM EDT

    CNBC.com Enterprise Reporter Lawrence Delevingne discusses how hedge funds have invested in Japan recently.

  • Permira to Acquire German Chemical Maker CABB International @ The New York Times - Tue, Apr 22, 2014 8:21 AM EDT

    Funds advised by Permira will acquire the German specialty chemical company CABB International from the private equity firm Bridgepoint Capital for an undisclosed amount.

  • KKR to team with Italian banks to package bad loans, FT says theflyonthewall.com - Tue, Apr 22, 2014 8:16 AM EDT

    Italy's two largest banks, UniCredit (UNCFF) and Intesa Sanpaolo (ISNPY), have signed a memorandum of understanding with KKR (KKR) and restructuring service adviser Alvarez & Marsal that will allow the ...

  • Billionaire hedge fund manager Bill Ackman backing of Valeant's effort to buy Allergan could usher in a new era of cooperation between corporate boards and activist investors.

  • Permira Acquires German Chemicals Maker CABB From Bridgepoint @ Bloomberg - Tue, Apr 22, 2014 7:25 AM EDT

    Permira Advisers LLP agreed to buy German manufacturer CABB International from Bridgepoint to tap demand for chemicals used in pesticides, cosmetics and food. Permira seized the opportunity to add Sulzbach, Germany-based CABB to its portfolio, which already includes Arysta LifeScience, a developer of additives to enhance …

  • Bain Goes Off Script for Its Latest Deal @ The New York Times - Tue, Apr 22, 2014 7:13 AM EDT

    With Viewpoint Construction Software, Bain Capital is demonstrating its willingness to make investments that are smaller than the leveraged buyouts for which it is better known.

  • PE firm Ares' IPO likely to raise up to $419 mln Reuters - Tue, Apr 22, 2014 6:40 AM EDT

    Credit investment and private equity firm Ares Management LP's initial public offering is expected to raise up to $419 million, the company said in a filing with the U.S. Securities and Exchange Commission ...

  • Asia Private Equity Weekly News, April 22, 2014 Reuters - Tue, Apr 22, 2014 5:36 AM EDT

    News and developments in Asia private equity from Reuters News for the week ended April 18. APRIL 18 BLACKSTONE GROUP LP, the world's largest alternative asset manager, reported a 30 percent increase in ...

  • HCA Holdings Said to Consider Offer for Australia’s Healthscope @ Bloomberg - Tue, Apr 22, 2014 3:34 AM EDT

    HCA Holdings Inc. (HCA) , the largest for-profit U.S. hospital chain, is weighing an offer for Australian health-care provider Healthscope Ltd., said people familiar with the matter. The U.S. company may bid for Australia’s second-largest private hospital operator by early next month, the people said, asking not to be …

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