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In the week ending November 16th 2018, hedge funds have begun to dump the social media company Facebook's stock as it has come under scrutiny following a massive data breach scandal and other controversies like election manipulation led its founder and CEO, Mark Zuckerberg, to defend the company before congressional panels.
Activist investor Barry Rosenstein's JANA dumped all of its Facebook (FB) stock. Stanley Druckenmiller's family-office hedge fund, Duquesne Capital, cut close to 97% of its Facebook stake. Tiger cub Philippe Laffont's Coatue Management also trimmed its Facebook stake by about 33%.
Meanwhile reports said that Philanthropist and former hedge-fund executive David Magerman - not George Soros - was the initial donor behind an effort urging regulators to break up Facebook Inc.
2018 was a positive year for new fund launches despite bumpy performance as 54% of new funds launched with a 2:20 structure, up from 49% in 2017, said Walkers survey; Azvalor Asset Management launched its Managers Fund - a novel investment offer for its co-investors and Commonfund, a prominent asset manager for endowments, foundations and public pension investors, announced the ...................... To view our full article Click here
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