Greenwich hedge funder Paul Tudor Jones might be a Forbes billionaire but he’s not helping his investors make the big bucks this year. According to an investor, BVI Global, his largest fund at Tudor Investment Corporation, is negative .9 percent as of September 20th. Meaning the 10 billionish of investor money he runs, in BVI, is lagging behind the industry average (Global Diversified Sector) whose average performance, according to HSBC, is positive 2.1 percent.
Connecticut hedge fund New Stream Capital is about to seize one of LA’s most expensive mansions. Self made radio mogul Ken Roberts, who’s been tied up in a nasty loan-to-own battle with the fund, told ME he’s set to turn the keys over Monday because he couldn’t pay back the $27.5 million he was court ordered to pay the hedge fund. Roberts says–like others who took short-term high-interest loans from Ridgefield-based New Stream, and secured the notes with their most valuable possessions– has discovered the fund wasn’t intending to just make him a loan, it really wanted to get control of his high-value property. Read complete article here.
Legendary hedge fund manager Jim Pallotta is returning to the industry with the launch of the Raptor Evolution Fund. The new hedge fund management firm has reportedly raised approximately $200 million and will employ the same long/short equity strategy that established Pallotta during his impressive run at Paul Tudor Jones’ Tudor Investment Corporation. According to theNew York Times, Mr. Pallotta achieved returns that averaged over 19% annually over his 15 year tenure at Tudor.
Here are the recent hedge fund launches that should be of interest to industry analysts and hedge fund investors. A number of them have raised more than $100 million in assets under management, which is impressive considering the market environment.
Since last week’s announcement that Goldman Sachs was shutting down its venerated principal strategies group to comply with the Dodd-Frank act, news has swirled that a number of blue-chip firms are attempting to grab the investment group’s coveted managers and traders. Some of the firms that are reportedly involved include PE shops KKR & Co and Carlyle, asset management giants BlackRock and Pacific Investment Management Co (PIMCO), as well as Perella Weinberg Partners, a growing M&A and hedge fund boutique that was launched by Joe Perella in 2006. Read complete article by clicking here...