Point72 Alum Scores in Bidding War for £2 Billion Payments Firm (Bloomberg)
Former Point72 Asset Management trader David Rosen has emerged as one of the biggest winners from the bidding war for Middle East credit card processor Network International Holdings Plc. Rosen’s hedge fund Rubric Capital Management revealed in mid-March it was one of Network’s top holders with a 5% interest. News of takeover approaches came out weeks later, driving the London-listed firm’s market value up to £2.1 billion ($2.6 billion) as a buyout consortium backed by CVC Capital Partners started battling it out with Canadian giant Brookfield Asset Management Ltd.
Disgraced Hedge Fund Manager Available To Advise On How Not To Go To Jail (Deal Breaker)
Whatever else might be said about him, Dan Kamensky knows an awful lot about distressed debt and what to do about it. It’s just that what he can now do with that knowledge is somewhat circumscribed. While being adjudged by an actual judge to be a “thief… of the lowest character”—on account of trying to screw over his fellow Neiman Marcus creditors to the benefit of his late hedge fund—does not preclude him from practicing law, it does prevent him from doing so before the Securities and Exchange Committee. It also means he can’t serve on creditors’ committees anymore, and if the SEC gets its way he’ll never work on or around Wall Street ever again.
World’s Greatest Hedge Fund Manager Says You’ll Have a Better Experience With Money if You Save (DataDrivenInvestor)
Once you save, you experience something different with your money to the person who spends it immediately. After getting rowdy at a Christmas party, Ray Dalio punched his boss in the face. As a result, he started the World’s Largest Hedge Fund. Now he’s considered one of the best investors of all time. Dalio is a sharp intellect. And a billionaire who amassed his wealth by being a deep thinker and a brilliant communicator. Recently in a video on his Instagram page, he quoted the Stanford Marshmallow Experiment conducted by Walter Mischel.
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Marshall Wace is Shorting Next, Burberry and B&M — Here’s Why (Financial News)
The hedge fund also holds short positions on British chemicals firm Croda International, Cambridge-headquartered information technology firm Darktrace and London-based recruiter Hays. London-headquartered hedge fund Marshall Wace has placed big bets against UK retailers after the sector witnessed a drop in sales during March. The latest disclosure to the UK’s Financial Conduct Authority shows that the hedge fund has a 1.88% net short position against fashion and cosmetic retailer Asos, which has a £769m market cap.
Pareto Merges its Alpha Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Pareto Asset Management has decided to merge its long/short equity fund Pareto Nordic Alpha into long-only equity fund Pareto Nordic Equity. Both funds are managed by Christian Nygaard and Ole Jørgen Grøneng Nilsen. The focus on one fund, instead of two, is expected to enhance the team’s and the firm’s utilization of resources. Pareto Nordic Alpha advanced 10.3 percent in the first three months of 2023 to end the first quarter among the top three best-performing members of the Nordic Hedge Index.
