Hedge Fund News of The Day 5/1/12
by admin on May 1, 2012
Man Group Reports $1 Billion of Client Outflows [DealBook] The Man Group, the world’s largest publicly traded hedge fund, said on Tuesday that client outflows from its funds totaled $1 billion during the first quarter of the year, as pressure mounted on the firm to improve its performance. The news comes as speculation builds that the group, based in London, may become a takeover target. An analyst report by UBS last week said the British hedge fund’s weak stock price performance — the firm’s shares reached an 11-year low last week — could entice a potential acquirer.
John Paulson Had A Swanky, Private Fundraiser For Mitt Romney Last Week [BusinessInsider] Although presidential hopeful Mitt Romney has been repeatedly criticized for his association with the “fat cats” of Wall Street, he just can’t seem to stay away. Now, he’s linking arms with one of the most famous and richest among them.Last Thursday, billionaire hedge fund manager John Paulson held a private, “big-dollar” event for Romney at his Upper East Side townhouse, the Daily Beast reported, citing sources that attended the event.
This Fund Took A Huge Stake In Barnes & Noble Just A Few Days Ago, And Now It’s Making A Fortune [BusinessInsider] Shares of Barnes & Noble spiked more than 80% in pre-market trading Monday following news that Microsoft invested $300 million in a joint venture. While a bunch hedge funds are making a fortune this morning thanks to their stakes in the book seller, no one is killing it as much as event-driven hedge fund JANA Partners.
Experts Weigh Pros and Cons for Emerging Managers [HedgeFundNet] A panel of hedge fund industry veterans gave their respective takes on emerging managers at a symposium Thursday in New York. The event was held at the law firm of Herrick, Feinstein LLP where guest speakers Eric Konisberg, Seth Wohlberg, Sara Malak, and Bruce Frummerman weighed in on various issues impacting upon the emerging manager space.
Meet Maneet Ahuja—The 27-Year-Old CNBC Producer Who’s More Connected Than God [BusinessInsider] Maneet Ahuja is CNBC’s Hedge Fund Specialist/”Squawk Box” producer and she’s incredibly connected to the super-secretive hedge fund industry. We sat down to chat with her about her upcoming book ”The Alpha Masters,” which highlights the stories, insights and lessons of industry titans such as Ray Dalio, David Tepper, John Paulson, David Einhorn, Bill Ackman, Jim Chanos and Dan Loeb, just to name a few.
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