Marc Lasry Launches Sports Investment Fund for Women’s Sports (Axios.com)
Marc Lasry announced his new fund, Avenue Sports Fund, Wednesday at SALT’s iConnections conference in New York. Why it matters: The fund figures to be a boon to the growing women’s sports industry. Details: The fund will be focused on women’s sports teams in the U.S., basketball teams in Africa and other sports teams in Asia. “There’s massive interest in sports worldwide. With the new fund, we thought we’d invest in women’s sports, basketball, teams in Africa, Asia, and lend money to teams. There’s huge opportunity, and a lot of it is in media rights,” said the hedge fund manager. Lasry recently sold his 25% stake in the NBA’s Milwaukee Bucks.
Wagamana-Owner Wins Royal London Backing as Oasis Fight Intensifies (Sky News)
RLAM, which owns 5% of The Restaurant Group, has decided to back its board amid a bitter fight with the activist fund Oasis, Sky News learns. The owner of Wagamama has won support from another of its biggest investors as a fight with the activist hedge fund Oasis intensifies ahead of next week’s annual meeting. Sky News has learnt that Royal London Asset Management (RLAM), which owns just under 5% of The Restaurant Group (TRG), will vote in favour of its board on all resolutions including directors’ re-election and remuneration.
Elon Musk Warns the World About George Soros (The Street)
Since May 15 the world’s most influential CEO daily has been attacking George Soros, comparing him with a Jewish comic-book antihero. He applies the same strategy he has previously used with varying results. Call it a three-act strategy. In the first act, the approach, he makes a cryptic comment about a target. He then waits for the reactions. The second act is the attack. In this phase, he repeatedly hits the target, aiming to stagger it and force it to throw in the towel. If he gets criticized, he hits more and harder.
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Hedge Fund Maverick Capital Reveals Early Ties to ChatGPT’s Sam Altman (Bloomberg)
Firm invested in Altman’s first company, Loopt, in 2010. AI long and shorts now make up biggest theme in public book. Lee Ainslie’s hedge fund firm backed ChatGPT’s creator long before the chatbot became synonymous with the artificial-intelligence boom. Maverick Capital invested in Sam Altman’s first company, Loopt, in 2010, and four years later partnered with Y Combinator while he was president of the startup accelerator.
Ken Griffin Still Keeping A Pretty Close Eye On His High-Frequency Trading Code (DealBreaker)
Like many of his fellow billionaires, Ken Griffin is a stickler for a lot of things: Low taxes. The inviolability of pre-nuptial agreements. Precisely the correct mount of steamed milk on his Starbucks latte. His favorite milkshake, whatever the cost. Residences suitably priced for a man of his stature. The right of billionaires like himself to do whatever they want without social or reputational consequences. His own particular right to hire and then fire every single person who works in financial services. The ability to pretend, if just for a moment while standing in the middle of his Palm Beach estate, that he is the last man on earth.
