Secretive Hedge Fund Opposes Whitehaven Coal Acquisition of BHP Mines (Clayton County Register)
A London-based hedge fund called Bell Rock Capital Management has emerged as the investor pushing to prevent Whitehaven Coal from acquiring two major mines currently owned by BHP. The Daunia and Blackwater mines, located in Queensland, are expected to receive bids of up to $5 billion. Bell Rock has been aggressively campaigning against the acquisition, calling for increased shareholder returns through dividends instead. Despite the secretive nature of the hedge fund, sources suggest that it holds a significant share in Whitehaven and has been trying to engage with the company’s board for several months.
Wall Street All-Stars Including Weinstein, Ackman Bid for Hedge Fund (The Wall Street Journal)
Drama-plagued Sculptor Capital already agreed to a sale to Rithm Capital. Boaz Weinstein and several other high-profile investors including William Ackman and Marc Lasry have made a rival offer for Sculptor Capital Management SCU 5.67%increase; green up pointing triangle, a hedge-fund firm that already agreed to sell itself to another investment firm.
Is a Hedge Fund-Style Investment Right for You? (Bloomberg)
Former Bridgewater Associates LP executive Bob Elliott’s plan for exchange-traded funds that employ hedge fund strategies has sharpened the debate about whether retail investors should have access to such approaches. The answer broadly is yes, though mostly for investors who understand how these strategies work within a broader portfolio. A second question is whether such sophisticated active management belongs in an ETF format versus an open-end public mutual fund. We’ll need a short dive into history to understand these debates better.
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US Hedge Fund in War of Words with THG Boss as Matthew Moulding Makes ‘Sour Grapes’ Claim (Business-Live.co.uk)
A war of words has broken out between a US hedge fund and the chief executive of THG, Matthew Moulding. In a LinkedIn post, Mr Moulding renewed his criticism of the London Stock Exchange as well as hedge funds, the media and bank analysts which he accused of being behind negative coverage against listed businesses, including his own.
Opalesque Roundup: Global Hedge Funds Slash Positions in Chinese Companies: Hedge Fund News (Opalesque)
Opalesque Roundup: Global hedge funds slash its position in Chinese companies: hedge fund news. In the week ending August 18th 2023, media reported that global hedge funds are “aggressively” selling Chinese stocks amid heightened concerns over the country’s property sector and a weak batch of economic data, a Goldman Sachs report on Tuesday showed. U.S.-based hedge fund investors including Coatue, D1 Capital and Tiger Global cut their exposure to Chinese companies in the second quarter, as the country’s economic prospects seemed to wobble and geopolitical tension increased. Tiger Global slashed its position in JD.com by roughly 12%, to $719.3 million from $1.1 billion, while also reducing its numbers of shares in Kanzhun. Coatue Management LLC, founded by Philippe Laffont, formerly of Tiger Management, cut its positions in Alibaba, Baidu, JD.com, Kanzhun, KE Holdings, Li Auto and PDD Holdings, regulatory filings showed.
