Peltz’s Daughter Credits Him For Acting Inspiration (Finalternatives)
Noted activist Nelson Peltz has been called many things over the years, often undoubtedly under the breath of a corporate executive in his crosshairs. To his daughter, however, he’s a muse. Nicola Peltz, the 19-year-old daughter of the Trian Fund Management founder, is among the co-stars of the latest installment of the Transformers film franchise, “Age of Extinction.” In the film, set for release tomorrow, she plays the daughter of Mark Wahlberg’s Cade Yeager, the lead human character in the movie—a role, she says, she couldn’t have performed without the help of her father.
The dangers of networking with bankers at Glastonbury Festival (eFinancialCareers)
Britain’s Glastonbury Festival starts tomorrow. 200,000 people – a number equivalent to the population of Oxford – will congregate in some fields in Somerset. It will almost certainly rain heavily. Dolly Parton is headlining. So is Arcade Fire. Somewhere among the 200,000 Glastonbury attendees are likely to be bankers, hedge fund managers and investors. The festival began targeting wealthy individuals in 2010, with the offer of yurts which could be rented out for its duration for £7k ($12k). It now boasts a pop-up hotel and spa facilities. Glastonbury gentrification has provoked complaints: bankers wearing Daft Punk T-Shirts have been engaging in pro-capitalist debates in the ‘green field.’ And Iron Maiden’s Bruce Dickinson has lambasted the festival for being too middle class.
As Activist Hedge Funds Boom, ‘Hushmail’ Takes Hold (Finalternatives)
Activist hedge funds have been around for about a decade and their modis operandi has not changed dramatically in that time: buy a significant stake in a company, agitate for change, realize profits, repeat. What has changed is the number of such investors: according to data provider Preqin, there are now over 400 activist hedge funds worldwide. Moreover, 2013 saw the launch of 28 new activist funds, the highest number of launches since 2007.
Democrat Donor Steyer Faces Accusations of Hypocrisy (NewsMax)
Democratic heavyweight donor Tom Steyer, an environmentalist and vocal opponent of the Keystone XL pipeline, is being accused of hypocrisy by opponents who say he made his fortune investing, in part, in fossil fuels. “This is somebody who really made his fortune largely investing in fossil fuels who now wants to close off the ability to use fossil fuels to a lot of other people who aren’t as wealthy,” Phil Kerpen, president of the conservative political action committee American Commitment, told Fox News.
Sell Side Gets Behind Jana’s Walgreen Bet (InstitutionalInvestorsAlpha)
When drugstore giant Walgreen Company (NYSE:WAG) earlier this week reported third-quarter results that came in below expectations, the news caused the stock to slide for a fourth straight day. These developments seemed to play right into the hands of Barry Rosenstein‘s Jana Partners. In the first quarter the New York-based activist hedge fund manager made Walgreen his largest holding. Rosenstein told CNBC at a conference in April that Walgreen is “an iconic brand, but it’s a company that’s underperformed on an operating basis and on a shareholder return basis over almost every time frame you could look – one year, five years, ten years.”
BlueHive Capital Launches $50M Maiden Hedge Fund (Finalternatives)
Paris-based alternative asset manager BlueHive Capital, the former Natixis CIB global alpha team, has launched its maiden hedge fund with assets under management of about $50 million. BlueHive Opportunities-Global Alpha began operations in early June with an investment from the French hedge fund seeder Emergence as well as some family office and institutional money.
Never dump stock you have conviction in: Cramer (CNBC)
Trident Trust Luxembourg Taps Fund Services Director (Finalternatives)
Trident Trust Luxembourg has named Richard van ‘t Hof as director of fund services. Van ‘t Hof has enjoyed a 20-year career in finance, corporate services and fund administration—including 12 years with Citco Group—in management positions in the Netherlands, the Netherlands Antilles and Luxembourg. His professional experience includes holding positions on the boards of various unregulated and regulated fund vehicles.
Novus partners with USD1.8bn Swiss-based fund of hedge funds provider (HedgeWeek)
Transparency within hedge funds has significantly increased since the financial crisis, with approximately 70 per cent of hedge funds reporting exposures and attribution along several key categories and many more aggregating portfolio statistics on a monthly basis. In addition, 20 per cent of funds go as far as reporting position-level information to their investors on a monthly basis. Unlike traditional performance management systems, Novus gives investors the ability to analyse more than returns in order to better understand how their managers are contributing to their overall portfolio in an efficient, intuitive and visually rich way.
A Former Hedge Fund Manager Created A Fancy Shuttle Service To Compete With Private Jets (BusinessInsider)
Richard Fertig managed a portfolio of hedge fund investments worth $4 billion until he lost his job in January 2009, another casualty of the Great Recession. Fertig interviewed for jobs left and right, but found finance jobs hard to come by. Looking back at his life and travels as a hedge fund manager, Fertig realized that many of his best experiences were dampened by low-quality ground transportation. At the same time, he believed others who still worked in his former occupation experienced those same inconveniences.
Ghana Gets First Hedge Fund (Finalternatives)
As Ghana gears up for its crucial World Cup match today against Portugal, a former regulator is gearing up to give the country its first hedge fund. Maxwell Gidi has founded Tikowrie Capital in the West African country, that region’s second-largest economy. The firm’s maiden fund, which formally opens to investors today, aims to raise in excess of 5 million Ghanian cedis (US$1.5 million) over the next three weeks. Gidi hopes the commodity- and currency-focused firm will have between 30 million and 50 million cedis under management within five years.
Spain’s Axia Real Estate launches 400 mln euro IPO (Reuters)
Spain’s Axia Real Estate SOCIMI has launched a 400 million euro ($545.34 million) initial public offering (IPO) and will use proceeds to acquire commercial property in Madrid and Barcelona, according to a term sheet seen by Reuters. Citigroup Inc (NYSE:C) and JB Capital Markets are the joint bookrunners on the deal and the shares will be listed in Madrid. More than half of the offering will be subscribed to by a group of institutional investors, with hedge fund Perry Capital committing 105 million euros, according to the term sheet.
Cornwall County Council Pension Fund seeks hedge fund-of-funds manager (PIOnline)
Cornwall County Council Pension Fund, Truro, England, is looking for a manager to create and run a £100 million ($170 million) diversified hedge fund-of-funds portfolio, documents filed with European procurement website Tenders Electronic Daily show. The new allocation will be a concentrated portfolio of hedge funds for the £1.3 billion pension fund. The chosen manager will assist in setting the strategy allocation, and will also conduct investment and operational due diligence in selecting hedge funds for potential inclusion in the portfolio. They will also provide investment monitoring information and quarterly fund commentary.
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