Hedge Funds


  • BOSTON, Oct 20- Shares in Alpha Bank surged more than 13 percent on Monday after hedge fund manager David Einhorn recommended betting on Greek banks and against French debt. Speaking at the annual Robin Hood Investors Conference in New York, Einhorn recommended going long Alpha Bank and Piraeus Bank with warrants and shorting French debt as a hedge, according to...

  • Oct 20- Allergan Inc shareholder Paulson& Co is urging the Botox maker to merge with specialty pharmaceutical company Shire Plc as an alternative to a deal with hostile bidder Valeant Pharmaceuticals, according to two people familiar with the matter. The hedge fund told Allergan CEO David Pyott that it would support a deal with Shire, the sources said.

  • Sears shares rose about 7.5 percent in early trading. Most of this will come from Lampert and his hedge fund, ESL Investments Inc, which together own 48.5 percent of Sears. Sears' deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling the retailer's supply chain ahead of the key holiday season.

  • Sears has announced plans to raise a total of just over $2 billion this year and this is the third time in two months that Chief Executive Eddie Lampert, whose interests will take up their rights, has agreed to pump funds into the retailer. Lampert and his hedge fund, ESL Investments Inc, and affiliated funds together own 48.5 percent of Sears. Sears said this month...

  • Sears to raise up to $625 mln through notes offering Monday, 20 Oct 2014 | 6:42 AM ET

    Oct 20- Struggling retailer Sears Holdings Corp said it would raise up to $625 million through a rights offering of senior notes due 2019 and warrants to buy shares. Sears Chief Executive Eddie Lampert and his hedge fund, ESL Investments Inc and certain affiliated funds, plan to exercise their rights, the company said in a statement. Sears said this month that it...

  • New York, Oct 17- Suvretta Capital Management, founded by a former portfolio manager for billionaire investors George Soros and Steven A. Cohen, is generating net returns of 6 percent year-to-date, despite this week's stock market drop and wild gyrations, according to two sources familiar with the situation. The majority of flows into equity strategies over the...

  • Activist urges new leadership at Family Dollar Friday, 17 Oct 2014 | 5:47 PM ET
    A Family Dollar store on July 28, 2014 in Hollywood, Florida.

    Elliott Management sent a letter to Family Dollar's board, nominating seven new directors on Friday.

  • Hedge fund seeks board seats at Family Dollar Friday, 17 Oct 2014 | 5:35 PM ET

    Family Dollar Stores Inc. accepted an $8.5 billion cash and stock buyout offer from fellow discounter Dollar Tree in July. Family Dollar said previously that regulators are less likely to raise antitrust concerns in a deal with Dollar Tree. Elliott Management said that Family Dollar missed a chance to get Dollar General and Dollar Tree into a bidding war.

  • Oct 17- Activist investor Elliott Advisors UK Ltd nominated seven candidates for election to Family Dollar Stores Inc's board as it looks to push for a sale of the dollar store operator to bigger rival Dollar General Corp.. Elliot holds a stake of about 4.9 percent in Family Dollar, the hedge fund said in a statement on Friday. Dollar General's offer was "clearly...

  • NBA's Bucks add third hedge fund owner in Dinan Friday, 17 Oct 2014 | 11:39 AM ET
    Jamie Dinan

    The big "bucks" keep flowing from Manhattan to Milwaukee with Jamie Dinan joining Marc Lasry and Wes Edens as an owner of the NBA's Bucks.

  • Billionaire Einhorn's Greenlight looks to raise cash Friday, 17 Oct 2014 | 7:23 AM ET
    Greenlight Capital president David Einhorn pauses during an interview in New York.

    Billionaire David Einhorn's hedge fund Greenlight Capital plans to raise money for the first time in two years.

  • 'Choppy' year for hedge funds: Pro     Friday, 17 Oct 2014 | 2:40 AM ET

    Amy Bensted, head of hedge fund products at Preqin, says the industry has seen a "choppy" performance.

  • Short seller Carson Block considers hedge fund firm Thursday, 16 Oct 2014 | 6:55 PM ET
    Carson Block, founder of Muddy Waters LLC, poses for a photograph after an interview in San Francisco.

    Carson Block, founder of Muddy Waters, is seriously thinking about starting a hedge fund firm.

  • Steve Cohen made nearly $2 billion in 2014: Source Thursday, 16 Oct 2014 | 5:24 PM ET
    Steve Cohen

    Former hedge fund manager Steve Cohen's Point72 Asset Management, has generated a gross profit of about $1.8 billion so far in 2014.

  • NEW YORK, Oct 16- A former analyst at a San Francisco hedge fund who prosecutors say engaged in an "unparalleled" spree of tipping inside information he obtained from an executive at Foundry Networks Inc was sentenced on Thursday to five years in prison. District Judge Robert Patterson in Manhattan to pay $653,890 in fines and forfeitures for his role in a...

  • Ex-analyst gets 5 years in prison in NYC case Thursday, 16 Oct 2014 | 4:18 PM ET

    NEW YORK— A former investment analyst for a San Francisco hedge fund was sentenced Thursday to five years in prison after prosecutors labeled him one of the most prolific leakers of inside information they'd ever seen. Before hearing the sentence in federal court in Manhattan, a tearful Matthew Teeple apologized for bringing shame to his family.

  • NEW YORK, Oct 16- Short seller Carson Block, the founder of research firm Muddy Waters LLC who has exposed accounting problems at a slew of Chinese companies, said on Thursday that he is seriously considering launching a hedge fund investment firm. "We are more so than ever very seriously considering becoming a fund manager, but it would not be the same sort of Muddy...

  • Citadel’s Griffin bullish on US, expects rate rise Thursday, 16 Oct 2014 | 3:29 PM ET
    Citadel founder and CEO Kenneth Griffin.

    Citadel's founder Kenneth Griffin is bullish on both the U.S. and energy, expecting rates to rise soon.

  • AbbVie directors recommend against Shire deal     Thursday, 16 Oct 2014 | 9:43 AM ET

    CNBC's David Faber reports AbbVie's board of directors said they are recommending against a deal to buy Shire plc.

  • *Europe under pressure but weak euro should help- Rossi. LONDON, Oct 16- The underlying strength of the U.S. economy should enable U.S. stocks to recover from this week's sell-off, said Fidelity Worldwide Investments' Dominic Rossi, which he said had been made worse by hedge funds' "poor" trades. Stocks in Europe and U.S. equity futures extended their losses on Thursday,...

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