Alternative asset manager Ares Management sets terms for $400 million IPO... [more]From Renaissancecapital.com: Ares Management, LP, an alternative asset management firm with $74 billion in AUM, announced terms for its IPO on Tuesday. The Los Angeles, CA-based company plans to raise $400 million by offering 18.2 million units (38% insider) at a price range of $21 to $23. At the mi
Crispin Odey explains why he’s shorting Manchester United... [more]From WSJ.com: To hedge fund manager Crispin Odey, it’s clear who is to blame for Manchester United’s decline this season, and it’s not David Moyes, who left his post as manager of the English soccer club on Tuesday.
Mr. Odey, one of London’s richest and most successful traders, has been runnin
Bill Ackman makes the case for hedge fund investing on a drawdown... [more]From Valuewalk.com: …CNBC‘s hedge fund reporter Lawrence Delevingne questions if Bill Ackman is the comeback manager of the year. The hedge fund titan had been accused of losing his golden touch in 2013 – along with $1.2 billion in assets under management, as investors pulled their funds due to per
Comment – Larry Fink expands on his dislike of hedge funds... [more]From Dealbreaker.com: The capo dei capi of money managers doesn’t like these young guns (and, in one notable case, not so young) spreading a lot of damned nonsense and nuisance in pursuit of their short-term goals. If this was not made clear enough in his letter to S&P500 CEOs (because Larry’s the k
Commodities – Hedge funds love the pound... [more]From Investing.com: According to the latest CFTC commitment of traders report, hedge funds and other speculators have piled into the British Pound with an expectation of higher exchange rate. At almost 5 billion dollars of net long bets, positioning is now sitting at 2nd most bullish level in 6 and
…And Finally – This week's least competent criminal is Austrian... [more]From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation.
Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp