Tuesday, 21 October 2014
Last updated 1 hour ago
Jun 6 2011 | 1:15pm ET
Rumors of the divorce between Relativity Media and Elliott Associates appear to be greatly exaggerated.
The former will invest more in the latter, rather than having its investment bought out. In exchange, Relativity has agreed to spin off its film fund—backed by Elliott for the past three years—to the hedge fund.
"As our core business of developing, producing and distributing our own product has grown to be competitive in size and scope with the majors, this move allows us to focus our energy on that business," Relativity CEO Ryan Kavanaugh said.
The film fund will be managed by Michael Joe, the former Relativity president hired by Elliott last month to lead Elliott Media Investments.
Last week, it was reported that Kavanaugh was seeking a buyer for Elliott's stake in the studio—the hedge fund has invested more than $1 billion in Relativity—but Elliott said it was not planning to sell its piece.
Relativity reportedly has an option to buy Elliott out.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...