Tiger Global mulling new $1.5B global VC fund (VC Circle)
Tiger Global Management LLC, the hedge fund managed by industry mogul Charles Coleman, has kicked off process to raise its eighth venture capital fund focused on later-stage, privately-held technology companies, as per a report by the Fortune citing sources. At present it has seven VC funds with assets of over $6 billion which will rise to over $7.5 billion if the rumours of new fund turns out to be true. It had raised nearly $1.5 billion in its seventh VC fund in 2012 and is looking at a similar amount for the proposed eighth fund.
Hedge fund ‘bets against United’ (The Business Desk)
A hedge fund led by one of the men who failed to buy Manchester United PLC (NYSE:MANU) four years ago is betting against the club’s New York-listed shares, according to Sky News. The broadcaster said that Marshall Wace stands to make large profits if Manchester United continues to perform poorly on the New York stock market. The club’s run of poor form has hit its share price which has fallen from $18 in May when Sir Alex Ferguson announced his retirement to $14.78. The fall has wiped $654m off the market value which now stands at $2.42bn.
Pershing Square Buys Into Platform Specialty Products Corporation (PAH) (Insider Monkey)
Bill Ackman‘s Pershing Square has disclosed a position in Platform Specialty Products Corporation (NYSE:PAH), a company that recently started trading on the New York Stock Exchange. Pershing Square owns 29.1 million shares of Platform Specialty Products Corporation, which represent 22% of all outstanding stock, as well as 4.1 million warrants with a conversion price of $11.5. Platform Specialty Products Corporation, which began trading on the NYSE on January 23, after a tenure on the London Stock Exchange, produces high-tech specialty chemical products. PAH produces a range of chemicals from raw materials.
Hedge Fund Casablanca Pushes for Breakup of Iron-Ore Miner (Wall Street Journal)
A hedge fund is pressing for a breakup at Cliffs Natural Resources Inc (NYSE:CLF), the company with the worst-performing stock in the S&P 500 index over the past year. New York hedge fund Casablanca Capital LP wants to see the iron-ore miner divide its international and domestic operations, according to a letter sent Monday to the Cleveland-based company’s management that is expected to be disclosed in a securities filing Tuesday morning.
DuPont sets $5 billion buy back as farm focus fuels profit (Reuters)
E I Du Pont De Nemours And Co (NYSE:DD)‘s quarterly profit doubled, beating market estimates, as its strong push into agriculture paid off, and the chemical maker said it would buy back $5 billion in stock. DuPont shares were up about 2 percent at $61.30 in premarket trading on Tuesday. Strong insecticide sales in Latin America and the early shipment of corn seed to farmers in Brazil and North America helped the agriculture business post its first profitable fourth quarter in four years. DuPont itself last October outlined plans to spin off its performance chemicals unit, which has weighed on results since 2012, after Nelson Peltz‘s Trian Fund Management took a stake in the company.
