Glenview Takes a Small Hit in January (Institutional Investor)
Larry Robbins’ healthcare-heavy hedge fund was able to post much smaller losses than the various health care indices. Glenview Capital Management did a good job of sidestepping the worst of the January carnage. The healthcare driven long-short fund headed by Larry Robbins lost just 2.25 percent for the month, according to an investor. This compares with a loss of 5.3 percent for the S&P 500 and 9 percent for…
George Soros Warns Against Investing in China Amid Real Estate Crisis (Business Standard)
Hedge-fund billionaire George Soros has warned against investing in China which is witnessing a decline in the real estate boom, citing the example of Evergrande which is finding it difficult to pay its debts in the face of government policies designed to curb the boom. China is facing an economic crisis after a real estate boom ended with a bang last year, according to investor Soros, reported CNN.
Inside Elliott Management’s $16.5 Billion Deal to Buy Software Giant Citrix — and Why More Buyouts are on the Horizon for the Activist Hedge Fund (Business Insider)
When workplace software company Citrix said on Monday that it would be taken private through a $16.5 billion buyout, it was sign that the leveraged buyout boom of 2021 might still have legs. But the firms financing the buyout weren’t the typical leveraged buyout titans. They included Elliott Management, the Paul Singer-led hedge fund known for buying up stakes in big companies, like Twitter and AT&T, and pushing for changes that will raise the stock price.
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Ackman’s Pershing Square Ends January Down 8.2 Pct (Reuters)
TORONTO, Feb 2 (Reuters) – Billionaire investor William Ackman‘s hedge fund Pershing Square Holdings lost 8.2% in January, clawing back returns in the last week of the month after recording heavier losses. Ackman’s Pershing Square Holdings portfolio ended the first three weeks of January down 13.8%, the worst performance to start a year for Ackman in years.
Bridgewater Sees Market Turmoil on ‘Aggressive’ Fed Tightening (Bloomberg)
Investors may be underestimating the need for “aggressive” monetary tightening from the Federal Reserve and other central banks to combat inflation, resulting in “significant risks” for markets, according to Bridgewater Associates. Following hawkish comments from the Fed Chair Jerome Powell last week, investors have brought forward expectations of tightening, pricing in five quarter-point rate hikes this year. Further out, however, they’re predicting fewer rate increases, anticipating the Fed will end the cycle with the policy rate at about 1.65% and long-term inflation expectations anchored around 2%. Consumer prices surged 7% in December from a year earlier, the fastest pace since 1982.
Activist Investors Take Aim at U.K. Inc. (The Wall Street Journal)
U.S. and European activist investors are targeting some of the U.K.’s biggest publicly traded companies, taking advantage of slumping stock prices to push for company breakups and other changes. Florida-based hedge fund Elliott Management Corp. is making waves at U.K. pharmaceutical giant GlaxoSmithKline PLC and SSE PLC , an electricity network and alternative energy provider. Daniel Loeb’s Third Point LLC is calling for a breakup of Shell PLC. And Trian Fund Management LP, another well-known U.S. activist hedge fund, headed by Nelson Peltz, owns a stake in Unilever PLC, The Wall Street Journal reported last month.
