Tuesday, 31 March 2015
Last updated 4 hours ago
May 1 2012 | 12:31pm ET
Jana Partners' Barry Rosenstein is taking a bit of a bow after his investment in Barnes & Noble paid off in a big way this week.
The activist hedge fund manager made a paper gain of $49.2 million on its 12% stake in the bookseller, after Microsoft announced yesterday that it would invest $300 million in a new unit that will cover B&N's Nook digital reader and college businesses, two of its most profitable business lines.
"The question is, why would anyone short that stock?" Rosenstein asked on CNBC. "We figured we have very little downside. We thought there was a very high probability that some sort of strategic transaction like this would occur."
The Microsoft deal will create a still-unnamed business that will report separately from B&N and that is, at a stroke, worth more than B&N itself with a $1.7 billion valuation. Microsoft will own about 18% of the business, and B&N the rest.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…