Saturday, 30 August 2014
Last updated 1 day ago
Jan 31 2012 | 1:11pm ET
SAC Capital Advisors founder Steven Cohen's dream of owning a baseball team is still alive.
The billionaire hedge fund manager's bid for the Los Angeles Dodgers has survived the first round of cuts. Blackstone Advisory Partners began informing the lucky bidders that they would continue in the process on Friday.
Major League Baseball has agreed to approve up to 10 potential buyers, with current team owner Frank McCourt selecting the actual buyer. It is unclear how many bidders survived the first round, although published reports indicate that at least eight have. McCourt has pledged to pick a winner by April 1.
Cohen is working with sports agent Arn Tellem on the bid. According to the Los Angeles Times, the two still have to contend with bids from the Roy Disney family and the head of their hedge fund, Shamrock Partners, as well as groups featuring sports legends Magic Johnson and former Dodgers manager Joe Torre.
Johnson is working with Guggenheim Partners CEO Mark Walter.
Mark Cuban, the owner of the National Basketball Association's Dallas Mavericks, and baseball executive Dennis Gilbert, were among those eliminated. The fate of other alternative investments bidders or potential bidders, such as private equity honchos Leo Hindery, Marc Utay, Ron Burkle and Thomas Barrack, is unclear.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...