Investor Marc Lasry Thinks the Big-Spending U.S. Could be Headed for Distress (CNBC)
Marc Lasry, who makes his living by investing in distressed companies, thinks the U.S. is potentially heading for that status itself. Though he’s not sure of the timing and doesn’t expect major problems to happen anytime soon, the billionaire head of the Avenue Capital hedge fund and owner of the Milwaukee Bucks sees high levels of government debt eventually coming back to cause problems.
Universal Offers Bill Ackman Chart-Topping Returns (Reuters)
LONDON (Reuters Breakingviews) – Bill Ackman may bag a financial smash hit in the upcoming listing of Universal Music, which is being spun off by Vivendi. Taylor Swift’s label boasts superior profitability to rival Warner Music, making a valuation of 47 billion euros including debt plausible. That would represent a chart-topping return for the hedge fund manager who bought a stake on the cheap earlier this year.
Steven Cohen to Invest in Crypto Quant Trading Firm (The Wall Street Journal)
Billionaire Steven A. Cohen is set to invest in a new cryptocurrency trading firm, the latest bet on the digital-asset markets by a prominent Wall Street investor. The hedge-fund manager and owner of the New York Mets agreed to make an initial investment in Radkl, a quantitative-trading firm specializing in digital assets, according to the firm’s executives and a spokeswoman for Mr. Cohen.
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‘Big Short’ Investor Michael Burry Offers an Inside Look at How His Iconic Bet Against the Housing Bubble Began (Business Insider)
Michael Burry, of “The Big Short” fame, reflected on the origins of his iconic bet against the US housing bubble, and praised a late colleague who helped him research the wager, in a tweet on Sunday. “When it all began…and RIP Joe,” the Scion Asset Management boss said. “A more brilliant one, I never met.”
Veteran Infra Investor Whitehelm Capital Bought by Real Assets Specialist Patrizia (Opalesque)
European real assets manager Patrizia is set to acquire infrastructure manager Whitehelm Capital and the combination of the two businesses creating an asset manager with more than €50bn in assets under management. According to a press release from the global real assets investment firm, the transaction will broaden its investments to include themes such as digital infrastructure, energy transition, water and environmental services, and social infrastructure. “Whitehelm’s product offering and investment expertise will significantly broaden Patrizia’s portfolio of investment solutions with a particular focus on smart cities & digital infrastructure, de-carbonization & energy transition, water, and environmental services, and social infrastructure, across equity, debt, and public listed infrastructure investments,” it explained.
Hedge Fund Amia Looks to Raise $500 Million After Beating Peers (Bloomberg)
Amia Capital, a London-based hedge fund focused on emerging markets, is in talks to raise as much as $500 million, tapping renewed investor interest in the industry. The fundraising will boost the firm’s assets to $2 billion, according to an investor letter sent to clients on Tuesday and seen by Bloomberg. It then intends to stop taking new cash. A spokesman for the firm co-founded by Antoine Estier, former chief investment officer at Grupo BTG Pactual SA’s hedge fund unit, declined to comment.
