Fortress Says 7th Circ. Ruling Hurts Intel’s Bid To Revive Suit (Law360)
Fortress Investment Group has pointed the Ninth Circuit to a recent Seventh Circuit decision that the hedge fund says supports its efforts to prevent a revival of Intel’s suit accusing Fortress of anti-competitively aggregating and asserting a huge portfolio of technology patents. In early August, the Seventh Circuit rejected a bid to revive landmark private antitrust claims from Humira buyers accusing pharmaceutical giant AbbVie of using a “patent thicket” to illegally shield the blockbuster immunosuppressant from competition.
Billionaire George Soros Pours Money Into These 2 ‘Strong Buy’ Stocks (TipRanks)
In the world of stock legends, George Soros stands out. While his political activities have been a lightning rod for controversy, no one can doubt his financial acumen. After all, he’s the ‘man who broke the Bank of England,’ and made a billion dollars in one day when he shorted the Pound Sterling back in 1992. His hedge fund, Soros Fund Management, showed three decades of sustained gains, averaging 30% annual returns through the year 2000. During this time, and today in the management of his personal fortune, Soros has taken a risk-tolerant stance toward his investments, and hasn’t hesitated to trade based on news and reports of global events.
These Billionaires Are Helping Lisa Murkowski Fight Off A Trump-Backed Challenger (Forbes)
Alaska Sen. Lisa Murkowski has won the backing of several billionaire donors in her battle for a fourth term. Leading the pack is hedge fund tycoon Ken Griffin, one of seven moguls who have donated over $25,000 to help Murkowski stay in the Senate. Griffin sent $1.5 million to Alaskans for L.I.S.A., a super PAC that can accept unlimited donations. The group, founded by former Murkowski campaign staffers, claims the acronym in its name stands for “Leadership In a Strong Alaska,” but it only backs one candidate: Murkowski, and has spent $2.7 million on her behalf.
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The Reward for Skill and Patience (Hedge Nordic)
Stockholm (HedgeNordic) – Large institutional investors generally look to a three-year track record as a pre-requisite for investing in hedge funds. With Coeli Absolute European Equity approaching its fifth anniversary, Malmö-based Mikael Petersson and his team have been awarded a $250 million mandate by a sovereign wealth fund that will mirror the long/short equity fund’s concentrated long portfolio.
Hedge Funds Back in Positive Territory in July (Hedge Week)
Hedge fund performance swung back into positive territory in July – following negative returns for much of this year – with all AUA categories and all strategies bar commodities posting positive weighted average returns. That’s according to the latest Monthly Hedge Fund Update report from hedge fund administrator Citco, which has assets of around $1.8 trillion under administration. The overall weighted average return for hedge funds administered by the Citco group of companies was 3% in July, up from -2.4% in June and -1.1% in May.
