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Alternative Market Briefing Weekly

Opalesque Roundup: New Chapter for Barnes & Noble as hedge fund buys the bookstore chain: hedge fund news, week 21

Saturday, June 08, 2019

In the week ending June 07th 2019, Barnes & Noble Inc. is acquired by hedge fund Elliott Management for $638 million and will be taken private. The acquisition follows Elliott's purchase of the British bookstore chain Waterstones in June 2018.

Barnes & Noble has faced continued pressure from Amazon and independent booksellers. Within the past five years, Barnes & Noble has lost more than $1 billion in market value.

In new launches, private equity firm Advent International said that it has completed raising funds for its ninth global private equity fund, GPE IX, with commitments of $17.5bn, surpassing the earlier target of $16bn; Biotechnology venture capital firm Third Rock Ventures has raised $770m for its fifth fund, a sign that investor interest in funding early-stage science continues unabated despite volatile public markets; New York-based credit investment manager Marathon Asset Management has announced the closure of its first fund -Marathon Aviation Fund - amounting to $360m, solely dedicated to aviation leasing, and Shinnecock Partners, a family office investment boutique, has launched an open-ended, standalone dedicated alternative art lending fund (ALF) building on its seven-year non-bank lending history and fine-art secured lending experience.

Further in new launches, Peter Greatrex, who left alternative investment specialist BlueMountain in 2017,is nearing the launch of a specialist credit hedge fund, in the latest sign that investors are eyeing opportun......................

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