Hedge Funds >>>
Estekene Capital Management LLC, the $100 million New York-based long-short valuebased equity hedge fund run by Peter Carlin and Charlie Carr, is shutting down and returning money to investors after having difficulty fundraising, according to a letter to investors obtained by Bloomberg. To read more, click here.
Passport Capital LLC, the $3 billion San Francisco-based hedge-fund firm run by John Burbank, sold its entire portfolio of mortgage debt backed by the U.S. government in the second quarter, according to a letter to investors obtained by Bloomberg News. To read more, click here.
Jana Partners LLC, the $6 billion activist firm run by Barry Rosenstein, took a stake in Japan Airlines Co., it said in a letter to investors obtained by Bloomberg News. To read more, click here.
Hudson Bay Capital Management LP is starting a distressed strategy, with $250 million of internal capital, according to a summary obtained by Bloomberg. To read more, click here.
The New Jersey Division of Investments may add as much as $500 million next year to its $3.5 billion in high-yield investments, Tim Walsh, director of the division, said last week in a telephone interview. The division, which oversees $74.3 billion in New Jersey Pension and Cash Management funds, is also considering investments in floating rate debt to benefit [...]
Mariner Investment Group LLC, the hedge-fund firm founded by William Michael-check that has $10 billion including its affiliated advisers, is searching for two portfolio managers to run strategies within a multistrategy pool that opened in April, according to Basil Williams, deputy chief investment officer. To read more, click here.
Losses on junk-bond ETFs are outpacing the broader U.S. high-yield market by the most in three years, signaling a deepening slump for debt that traded at record-high prices less than a month ago. Click Here for More
Guggenheim Investment Advisory, the $70 billion unit of Guggenheim Partners LLC, is searching for long-short equity and event-driven managers for allocations. Long-short equity is Guggenheim Investment Advisory’s “top risk-adjusted strategy pick for 2013” in an environment of decreasing correlations, according to Charles Stucke, chief investment officer of Guggenheim Investment Advisors and senior managing director of Guggenheim Partners, the New York- [...]
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Conexant Systems Inc was acquired in April 2011 by Golden Gate Capital for $282. million for $282.2 million and will be sold to an affiliate of Soros Fund Management in exchange for debt under a prepackaged Chapter 11 reorganization begun early Thursday morning in Delaware. Click here to continue reading