Joe Torre to Present manager of Marathon Asset Management with “Award for Caring” (Hedgeco)
Former New York Yankees Manager, Chairman of The Joe Torre Safe At Home Foundation, and prior recipient of the Hedge Funds Care/Help For Children (HFC) award, Joe Torre, will present Marathon Asset Management’s Bruce Richards with the Award for Caring during the 16th Annual New York Open Your Heart to the Children Benefit. Mr. Torre was recognized in 2012 by HFC for his dedication to ending the cycle of domestic violence, and its effects on children, after experiencing abuse as a child in his own home in Brooklyn. Mr. Torre is looking forward to presenting the award to Bruce Richards of Marathon. He said, “I was grateful to receive the HFC award two years ago. It is my honor to present the award on behalf of HFC to Bruce Richards.”
Canada Pension Plan starts ‘in-house hedge fund’ (FT)
Alain Carrier, head of Europe for CPPIB, said the fund wanted to hire a team of “four to five professionals” that would build a long/short portfolio targeted at Europe, the Middle East and Africa. Although a separate person familiar with the matter said the new team would, in effect, act as an “in-house hedge fund”, Carrier played down the use of such terminology, instead stressing that it was part of the firm’s wider strategy to invest in public markets. Although various pension funds have built direct capability to do deals for private equity and real estate investments in London in recent years, it remains unusual for funds to adopt a strategy of investing in long/short equities…
Hedge fund threatens ouster of Darden Restaurants’ directors (OrlandoSentinel)
Hedge fund Starboard Value said Monday it could try to oust Darden Restaurants, Inc. (NYSE:DRI) board members if the company doesn’t slow down plans to spin off or sell Red Lobster. Starboard said in a letter written to Clarence Otis, chairman and chief executive officer, that the Darden board of directors has done a poor job in general. “It is our belief that, given the dismal historical performance of Darden under the guidance of the existing Board … immediate changes in Board composition are absolutely required,” Starboard said in its letter.
Jim Rogers Says “Worry,” Laszlo Birinyi Sees SP 1900 (WallStreetSectorSelector)
Jim Rogers, famous billionaire and hedge fund manager takes a cautious approach to current markets while money manager and founder of Birinyi Associates Inc. sees the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) reaching 1900 by July. In an interview with RT.com Jim Rogers suggests that the Federal Reserve has created big problems in emerging markets that are not fixed. He targets leading emerging economies like Turkey, Indonesia, India and Brazil and says, “This is not over yet-you should be worried, be careful and be prepared.”
EBay Also a Big Hurdle for Icahn (WSJ)
Carl Icahn has dropped his bid to boost buybacks at AppleAAPL +1.79%. That should leave him more time for his campaign to remake eBay Inc (NASDAQ:EBAY) -1.47% board and get the company to spin off its PayPal division… Icahn is pressing to spin off eBay’s PayPal payments business and says he met the company’s Jan. 18 deadline to nominate two of his employees to run for seats on its board. Ebay continues to reject the idea, saying the unit is more valuable as part of the company than separate. An eBay spokeswoman declined to comment on the analysis.
Recommended Reading:
Tiger Global Reduces Stake in TAL Education Group (ADR) (XRS) Again
Invesco Boosts its Stake in Brookdale Senior Living, Inc. (BKD)
