This Hedge Fund Manager Is Convinced Yahoo Is About To Buy AOL (Business Insider)
Yesterday, amid countless market transactions across the globe, there were these two events:
> In the US, a single investor bought $1 million worth of soon-to-expire AOL, Inc. (NYSE:AOL) stock options.
> In Asia, the stock price of Yahoo! Inc. (NASDAQ:YHOO) Japan suddenly surged.
These two events may seem unrelated to you and me, but in Canada, an attentive hedge fund manager saw them and began to believe — or at least hope — that a major merger he’s been long waiting for is about to happen. That hedge fund manager is Eric Jackson. Jackson has been running a small hedge fund out of Toronto since 2007. It’s called Ironfire Capital. One of Ironfire’s biggest positions over these past seven years has been a stake in Yahoo. Lately, Ironfire has also taken a stake in AOL.
Deutsche Bank hedge fund spinout targets $250m (Financial News)
Philippe Azoulay, who spent six years in charge of all the quantitative aspects of Deutsche Bank AG (USA) (NYSE:DB)’s alternative and fund solution group, secured $50 million in seed funding from Deutsche Bank for his hedge fund start-up, 80 Capital, a year ago. He had been running Helium, a managed futures strategy, internally at Deutsche Bank since February 2012. Azoulay is now planning to market the fund globally and hopes to grow assets from $50 million to about $250 million in the next 12 months, according to a person close to the firm. At this point it may “soft close” to new money, the person said.
Guernsey-based hedge fund Damille Investments Ltd buy three per cent stake in Rangers (Scottish Daily Record)
A Guernsey-based hedge fund group have snapped up more than three per cent of Rangers. Finance firm Damille Investments Ltd yesterday confirmed they were behind Tuesday’s purchase of 2million shares in the Ibrox club. It’s understood they bought the holding from Richard Hughes of Zeus Capital, a key player behind Charles Green’s takeover in May 2012. After backing Green, Hughes was awarded his shares at a penny each. He announced to the Stock Exchange yesterday morning he had sold 2.2m of them for 24p each, pocketing a whopping profit of over £500,000. Then yesterday afternoon Damille officially announced that they have bought a significant slice of the club.
After prostitution arrest, $4 billion hedge fund to become family office (Portland Business Journal)
Roughly five months after the arrest of CEO Jim Bisenius in a prostitution sting, Common Sense Investment Management is closing its doors and becoming a family office, the Business Journal has learned. As a family office, it will manage Bisenius’ wealth, but largely not have any outside clients. The firm did not immediately respond to a request for comment. Founded by Bisenius in 1991, Common Sense rose to become one of the 50 biggest funds of hedge funds in the world, accumulating more than $4.2 billion in assets, according to a 2012 Business Journal investigation.
Ivaldi Hires Morgan Stanley, Sansar Alumnus for Asia Investments (Ivaldi Hires Morgan Stanley, Sansar Alumnus for Asia Investments)
Ivaldi Capital LLP, a U.K.-based multistrategy hedge-fund manager, hired former Morgan Stanley (NYSE:MS) strategist Rob Hart to start investing in Asian gaming, property and consumer stocks. Hart began trading in Singapore last week, William Potts, Ivaldi’s London-based chief executive officer, said in an e-mail yesterday. Hart, who spent 12 years with Morgan Stanley, left the U.S. bank in 2008 to join Singapore-based Sansar Capital Management LLC, where he helped manage a portion of investments in property, gaming and large-cap stocks in Hong Kong and China, he said. He left Sansar in March before joining Ivaldi, he said.
Financier Says He’s Guilty of Everything but a Crime (New York Times)
Defense lawyers almost always give the same advice to clients facing charges: Don’t say a word in public. That admonishment comes too late for Florian Homm. Mr. Homm, a 54-year-old German, is a prominent former hedge fund manager awaiting extradition from Italy to face security fraud charges in the United States. But in the three years since the United States government first made him a target, he has published an autobiography in English and German, given interviews to numerous publications, and appeared on German television.
