Hedge fund urges Madame Tussauds operator to go private

A large investor in the operator of Madame Tussauds is waxing nostalgic about the company’s days as a private entity. Activist hedge fund ValueAct is urging the company behind the maker of Meghan Markle and Arianna Grande wax figurines to pursue a deal to take itself private, saying a going-private transaction would result in a…
Business | New York Post

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‘Toxic cocktail’ brewing for U.S. asset managers: hedge fund investor Kass

Hedge fund investor Doug Kass said on Tuesday that he is shorting several investment managers, including T. Rowe Price Group Inc and Franklin Resources Inc, as they could be “the next group to feel…


Reuters: Wealth

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Hedge funds up 7 percent in 2019 but struggling in broader market

Hedge funds are gaining steadily this year but still lagging well behind the broader market. The $ 3.2 trillion industry gained 7 percent through April, when the S&P 500 popped 17.5 percent, according to data released Tuesday by Preqin. While hedgies like to blast comparisons between hedge fund performance and the S&P 500, Preqin’s data shows…
Business | New York Post

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Hedge fund Vor Capital secures investment from Borealis Strategic: sources

Borealis Strategic Capital Partners, which invests in new hedge funds, has written its first check to commit capital to Europe-oriented stock fund Vor Capital, two people familiar with the matter…


Reuters: Wealth

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Hedge fund slammed over $6.8B in unpaid taxes seeks deal with IRS: report

In a move that could severely ding investors, secretive hedge fund Renaissance Technologies is in talks to settle a dispute with the Internal Revenue Service over billions in unpaid taxes. RenTech’s flagship Medallion fund was determined to have avoided up to $ 6.8 billion in taxes over a 15-year period by the Senate’s Permanent Subcommittee on…
Business | New York Post

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Bed Bath & Beyond shares jump after hedge funds call for overhaul

Investors loaded their carts with Bed Bath & Beyond stock Tuesday after a hedge fund triumvirate called for an overhaul of the board and an ousting of its chief executive. Shares climbed as much as 30 percent early Tuesday after three hedgies unveiled a slate of 16 candidates to replace Bed Bath & Beyond’s 12-person…
Business | New York Post

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Hedge funds manipulating $74B pharma deal: Starboard CEO

An activist investor is probing whether hedge funds are using a controversial stock-trading tactic to tip the vote in favor of pharma giant Bristol-Myers Squibb’s $ 74 billion deal to buy rival Celgene, The Post has learned. Starboard Value — whose boss Jeff Smith has blasted the merger as too expensive for Bristol-Myers shareholders — has…
Business | New York Post

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Showtime’s ‘Billions’ ripped off hedge fund performance coach: suit

The tagline for season four of “Billions,” out March 17, is, “Leave them with nothing.” Mission accomplished, says Denise Shull. “They’ve left me with nothing and then went out of their way to make me look bad for telling the truth,” said Shull, a NYC-based performance coach for hedge funds. In a copyright-infringement lawsuit she…
Entertainment | New York Post

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Billionaire Ken Griffin’s Citadel hires female hedge fund founder

Billionaire Ken Griffin just snagged an ex-Paulson & Co. trader for his $ 28 billion hedge fund, The Post has learned. Griffin, who has been grabbing talent from Goldman Sachs, D.E. Shaw and Point 72 Capital in recent months, hired Samantha Greenberg away from Margate Capital, the $ 215 million hedge fund she launched three years ago,…
Business | New York Post

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Skittish investors made it a painful year-end for hedge funds

Hedge funds got a double dose of pain at the end of 2018. Skittish investors yanked $ 22.5 billion during the fourth quarter from the $ 3.1 trillion in assets managed by the struggling hedge fund sector, according to report released by Hedge Fund Research on Friday. That’s on top of the average hedge fund tanking 5.8…
Business | New York Post

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Hedge fund Elliott raises pressure on Mitek after takeover bid rejected

Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc to scrap a so-called “poison pill” to let it buy more stock and said it may press for board changes after the software company took…


Reuters: Wealth

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Eddie Lampert’s hedge fund claims no ‘windfall’ from Sears demise

Think billionaire Eddie Lampert made a bundle off Sears’ demise? “Nothing could be further from reality.” That’s according to testily written court papers filed on Friday by Lampert’s hedge fund ESL Investments, which fired back at accusations that its deals to siphon off Sears assets over the past decade — from department stores to the…
Business | New York Post

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