Wednesday, 1 October 2014
Last updated 4 hours 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.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...