Man Utd Takeover: Elliott Management Through to Second Stage of Bidding But Glazer Family Not Certain to Sell (Sky Sports)
Elliott Management has made it through to the second stage of the Manchester United bidding process but the Glazer family remain undecided on selling the club. Rather than seeking to buy Manchester United outright, US hedge fund Elliott Management’s proposal is to offer financing to any interested parties – and the Glazers themselves. The Glazers have received bids worth between £4bn and £4.5bn from Qatar’s Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe but they are holding out for their £6bn valuation.
Angelo Gordon Raises $1.3bn for Second Dislocation Fund (Hedge Week)
Angelo Gordon, a $53 billion alternative investment firm focused on credit and real estate investing, has expanded its distressed and corporate special situations platform by raising $1.3 billion the AG CSF2A (Annex) Dislocation Fund, (Annex Dislocation Fund 2). In a statement, Angelo Gordon said the fund, which secured strong support from existing investors of the flagship Credit Solutions strategy, as well as a significant level of commitments from new institutional and retail investors, will “aim to capitalise on situational market volatility and stress by investing primarily in public debt securities whose prices have dislocated from long-term fundamentals”.
Haidar Jupiter Takes a 5 Percent Hit (Institutional Investor)
Rokos, AQR, and Graham Capital led macro funds in a mixed month for the strategy. Haidar Jupiter Fund has posted another monthly loss. The volatile macro fund, which was up 193 percent in 2022, dropped 5.04 percent in February, extending its loss for the year to 17.41 percent, according to a fund communication with clients seen by Institutional Investor.
Photo by Austin Distel on Unsplash
This Hedge Fund Is Betting Big on Arrival Stock. Should You? (InvestorPlace.com)
Cash-strapped electric bus and van startup Arrival (NASDAQ:ARVL) received a financial lifeline last month. That’s when it locked down a financing deal with Antara Capital. The hedge fund has committed to buying $50 million worth of newly issued shares of ARVL stock. Antara also agreed to exchange $121.9 million worth of Arrival convertible notes for additional newly issued common shares. This capital infusion/debt-for-equity swap stands to reduce the company’s outstanding debt significantly.
Coinbase and $20,000,000,000 Hedge Fund Backing New Decentralized Crypto Exchange (The Daily Hodl)
Top US-based crypto exchange Coinbase is teaming up with a privacy-focused crypto firm to launch a new decentralized exchange (DEX) platform. In a new press release, decentralized finance (DeFi) firm Violet says it plans to launch Mauve, a DEX built with features of both DeFi and traditional finance (TradFi). The company will be collaborating with several prominent investors, such as Coinbase Ventures, venture capital firm FinTech Collective, and $20 billion hedge fund Brevan Howard.
