Third Point, Paulson Among Investors In Ex-BP CEO's Shell Co.

Jun 20 2011 | 2:00am ET

Several high-profile hedge funds helped former BP CEO Tony Hayward's new venture raise 35% more money in its initial public offering than expected.

Lansdowne Partners, Marshall Wace Asset Management, Och-Ziff Capital Management, Paulson & Co. and Third Point are among the investors in Vallares, which will invest in emerging market oil and gas assets. Vallares' co-founders, including hedge fund manager Nathaniel Rothschild, former Goldman Sachs partner Julian Metherell and Tom Daniel, plan to put Hayward, who resigned from BP in the wake of the disastrous Gulf of Mexico oil spill last year, at the helm of an acquired company.

New York-based Third Point is among the largest hedge fund holders of the new company's stock, The Sunday Telegraph reports. All told, there are about 150 investors, about half of which are based in the U.S. Vallares has said most of its investors are term U.S. and U.K. fund long-only fund managers.

Vallares raised US$2.18 billion in the IPO.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.