Editor’s Note: Related tickers: The Blackstone Group L.P. (NYSE:BX), Herbalife Ltd. (NYSE:HLF), The Hain Celestial Group, Inc. (NASDAQ:HAIN), Goldman Sachs Group, Inc. (NYSE:GS)
Carl Icahn Sells Half His Stake In Hain Celestial Group For $292 Million (JewishBusinessNews)
Stock picking is something of an art, and will always be very far from a science, but private equity king Carl Icahn seems to pick many more winners than losers these days. On Tuesday it was announced by The Hain Celestial Group, Inc. (NASDAQ:HAIN), a producer of organic and natural foods, that Icahn is selling about half of his shares in the company. In the press release Hain said that Icahn and his related companies have now sold 3,650,000 shares of common stock in the Lake Success, New York, company to an investment bank Jefferies LLC.
Goldman Said in Talks With GIC, Blackstone on Rothesay Stakes (Businessweek)
Goldman Sachs Group, Inc. (NYSE:GS) is in talks to sell a majority stake in its European insurance business to Singapore’s GIC Pte and The Blackstone Group L.P. (NYSE:BX), according to a person with knowledge of the transaction. Both GIC, Singapore’s sovereign wealth fund, and The Blackstone Group L.P. (NYSE:BX), the world’s biggest private-equity firm, may each buy a stake of about 30 percent in Rothesay Life Ltd., a London-based insurer run by Goldman Sachs partner Addy Loudiadis, said the person, who asked not to be identified because the negotiations are private. Massachusetts Mutual Life Insurance Co. may also buy 6 percent, the person said.
Herbalife signs up big-shot lobbyists (NYPost)
Herbalife Ltd. (NYSE:HLF) is prepping for war in Washington. The controversial multi-level marketing company led by CEO Michael Johnson has added the Podesta Group, a high-powered DC lobbying firm run by Tony and John Podesta, to its growing list of lobbyists. …Hedge-fund activist Bill Ackman has been pressing for Washington to shut Herbalife down — accusing the Los Angeles distributor of nutritional supplements of being a pyramid scheme. Herbalife Ltd. (NYSE:HLF) has denied the accusation.
Hedge fund industry sets out policy principles (GlobalInvestorMagazine)
The Alternative Investment Management Association (Aima) has published an enhanced statement of policy principles covering investor protection, regulatory consistency, systemic risk and market integrity. The paper, Regulating Capital Markets: AIMA’s Policy Principles, sets out Aima’s views on improving investor protection, the segregation and protection of investor assets and collateral and calls for regulation reflect the difference between retail and professional investors.
Pine River Preps $150M China Hedge Fund (Finalternatives)
Pine River Capital Management will launch a China-focused hedge fund next month with as much as $150 million in initial capital. The Minnesota-based hedge fund, which has more than doubled its assets under management over the past two years to $13.6 billion, expects the China Fund to debut with at least $100 million. The fund will be managed by Dan Li, its co-head of Asian trading. Li joined Pine River last year from Magnetar Capital, where he led its China business from 2005 through 2011, and formerly worked at Citadel Investment Group.
Hedge fund haul (CNBC)
Salt Asia to bring out an international flavour (AsianInvestor)
Hedge fund managers are often viewed as living life in the fast lane, so perhaps it is apt this year’s SkyBridge Alternatives Conference, or Salt, in Singapore follows the city’s Formula 1 event. Salt, which made its debut in Singapore last year, returns on September 24-27 with a more international flavour, with scheduled speakers that include former US treasury secretary Tim Geithner, ex-European Central Bank president Jean-Claude Trichet and The Black Swan author Nassim Taleb. About 1,000 fund managers, investors and finance professionals are expected to attend this year’s event.
Options growing for capital-starved Asian hedge funds (AsianInvestor)
Asia’s start-up and smaller hedge funds face a challenging fundraising and operating environment, but there are a growing number of options available to them, according to industry executives. “The capital-raising environment is fairly tough for the hedge fund industry as a whole,” says Max Gottschalk, chief executive of fund of hedge fund firm Gottex Penjing Asset Management. During a panel discussion at the Hedge Funds World Asia conference in Hong Kong yesterday, Gottschalk noted that 90% of inflows to hedge funds on a global basis are going to managers with more than $500 million in AUM.
Jim Rogers: Gold to jump due to U.S. desperation to have a war (DigitalJournal)
United States President Barack Obama and officials within the administration are beating the drums of war. How will this affect the markets, specifically commodities like gold and oil? …If an attack occurs then expect commodities to rise, according to legendary investors Jim Rogers and Marc Faber. Rogers, speaking in an interview with Reuters, suggested that oil and gold could go “much, much higher” because the U.S. is “desperate to have a war.”
Dr Marc Faber To Speak At Midf Exclusive Seminar (Bernama)
The MIDF Amanah Investment Bank Bhd (MIDF Investment) will invite renowned investment advisor and fund manager, Dr Marc Faber, to speak at its exclusive investment seminar. Entitled “Listening from the Guru”, the seminar was part of its continuous effort to showcase leading market leaders and captains of industries to share their knowledge and experiences with the investment fraternity. “The seminar is to provide a high impact and a value-added platform, especially for Malaysian companies,” the investment bank said in a statement.
Tech fund Coatue leads $45 mln funding into startup HotelTonight (Reuters)
Technology hedge fund Coatue Management has led a $45 million funding round into accommodation service HotelTonight, the latest example of the burgeoning interest among hedge funds in Silicon Valley start-ups. HotelTonight, which allows travelers using smartphones to book rooms at the last minute, plans to use the cash to further expand around the world, including Asia. It announced the news in a press release. The founders aim to boost discretionary hotel stays, in which a guest did not necessarily need to stay in a hotel. That market currently represents just 15 percent of the hotel market, said HotelTonight co-founder Sam Shenk in an interview Tuesday, but he believes it could rise to about 25 percent over the next few years.
