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Private Equity and Hedge Funds

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  • BOSTON, April 14- Former Democratic Massachusetts Governor Deval Patrick is joining the Boston- based private equity firm Bain Capital founded by his predecessor, Republican Mitt Romney, the Boston Globe reported on Tuesday. Patrick said last year when he decided not to run for a third term in office that he planned to return to the private sector.

  • Ackman: Herbalife executives are lawyering up Monday, 13 Apr 2015 | 5:50 PM ET
    Bill Ackman

    Bill Ackman said senior execs at Herbalife were hiring their own defense lawyers, a bad sign for the company's future.

  • Trian slams Dupont ahead of key vote Monday, 13 Apr 2015 | 5:09 PM ET
    A file photo of Edward Garden

    The battle between activist investor Trian and DuPont is heating up ahead of a proxy vote for new board members.

  • Trian complains about executive pay at DuPont Monday, 13 Apr 2015 | 3:05 PM ET

    NEW YORK, April 13- Trian Fund Management, fighting for seats on the board at chemicals and agricultural conglomerate giant DuPont, said top company executives were still well paid last year even though the board acknowledged that the operating performance was poor. The hedge fund said in a presentation filed with the Securities and Exchange Commission on...

  • 'Show us $15!' protesters tell hedge fund honchos Monday, 13 Apr 2015 | 2:41 PM ET
    Protestors at the Active-Passive Investor Summit in New York Monday, calling for fair wages for restaurant workers.

    Protesters briefly took over an activist investing conference in New York to call for higher wages for restaurant workers.

  • Shouting "Burger King, Mickey Ds" and holding signs saying "Dignity at Darden, No poverty wages," the protesters trooped through the ballroom at the Crowne Plaza hotel in Manhattan, interrupting the 13 D Monitor's Active-Passive Investor Summit at 1 p.m.. An unidentified person with the group, which represents the Restaurant Opportunity Center, said they came to...

  • Activist investor says this bank stock to surge Monday, 13 Apr 2015 | 12:57 PM ET
    Cliff Robbins, founder Blue Harbor Group.

    "This is one of the best risk return investments I've seen," according to activist investor Clifton Robbins.

  • Jana Partners urges Qualcomm to consider breakup Monday, 13 Apr 2015 | 12:16 PM ET
    Attendees mingle in the Qualcomm Inc. booth at the 2012 International Consumer Electronics Show in Las Vegas on Jan. 12, 2012.

    Jana Partners is asking Qualcomm to consider spinning off its chip unit from its patent-licensing business, Barry Rosenstein tells CNBC.

  • April 13- Animal health products company Zoetis Inc appointed a second director to its board under its agreement with Bill Ackman's hedge fund Pershing Square Capital Management. Zoetis said on Monday that it added Actavis Plc Executive Chairman and former chief executive Paul Bisaro to its board. Zoetis had appointed William Doyle, a Pershing Square...

  • *Hedge fund says Qualcomm's chip unit "essentially worthless". *Jana says it has had "constructive dialogue" with Qualcomm. Qualcomm's shares, which up to Friday's close had fallen about 7 percent since the start of the year, jumped more than 5 percent to $72.74 in premarket trading on Monday after the Wall Street Journal reported that Jana was putting pressure on...

  • April 13- Builders FirstSource Inc, a U.S. supplier of residential building products, said it would buy privately held ProBuild Holdings LLC for $1.63 billion in cash. The transaction is expected to immediately add to Builders FirstSource's earnings, the company said. ProBuild was created in 2006 by Devonshire Investors, the private equity arm of Fidelity...

  • Druckenmiller: This could end 'very badly' Saturday, 11 Apr 2015 | 2:04 PM ET
    Stanley Druckenmiller

    Billionaire investor Stanley Druckenmiller has once again warned that the easy money policies of recent years could lead to big problems.

  • April 10- Security software maker Symantec Corp has been seeking buyers for its storage software business, Veritas, or the entire company for several months, sources familiar with the matter said. Symantec has approached NetApp Inc, EMC Corp and several private equity firms to gauge their interest, the people said, asking asked not to be identified as the...

  • The oil rig count fell by 42 this week to 760, the biggest drop in a month after the loss of 11 and 12 rigs in the prior two weeks respectively, according to data from oil services firm Baker Hughes. "It's a sign of the tumult the oil industry is still going through," said John Kilduff, partner at New York energy hedge fund Again Capital. With this week's decline, the oil rig...

  • Huge pension finally turning to hedge funds Friday, 10 Apr 2015 | 2:06 PM ET
    United Nations headquarters building in New York

    The United Nations' $52 billion pension fund is getting close to investing in hedge funds for the first time.

  • Blackstone Group says it will buy Excel Trust Friday, 10 Apr 2015 | 12:56 PM ET

    NEW YORK— Private equity firm Blackstone is buying Excel Trust for more than $1 billion. Blackstone also announced Friday that it would buy loans and other assets from General Electric Co.' s GE Capital unit, which it is selling. Excel Trust Inc. shares rose $1.97, or 14.2 percent, to $15.81.

  • LOS ANGELES, April 10- Former Enron trader and hedge fund billionaire John Arnold may be about to launch a national publicity campaign to convince U.S. voters of the need to reform public pensions, according to a document seen by Reuters. Growing costs were significant factors in the recent bankruptcies of Detroit and the California cities of Stockton and San...

  • SAO PAULO, April 9- Verde Asset Management, Brazil's largest hedge fund with over 30 billion reais under management, posted the highest return in six months in March as bets on a stronger U.S. dollar and rising borrowing costs in the country paid off. In a letter to investors on Thursday, Verde money managers led by Luis Stuhlberger said that the fund's currency...

  • Hedge funds get slammed playing beat-up oil sector Thursday, 9 Apr 2015 | 5:16 PM ET
    An oil pumpjack is shown near Tioga, N.D., Aug. 21, 2013.

    Kamunting Street Capital is closing in part because of energy-related losses, showing the potential pitfalls of playing the sector.

  • BOSTON, April 9- Steven A. Cohen has hired a hedge fund industry veteran to head a new training program designed to pass the billionaire investor's famous stock picking skills to a new generation as he rebuilds after an insider trading scandal. Cohen's $11 billion firm Point72 Asset Management said on Thursday that Jaimi Goodfriend, a college lecturer in...