Thursday, 2 October 2014
Last updated 16 hours ago
Aug 21 2012 | 10:19am ET
The latest hedge fund honcho to get into the business of sports-team ownership is none other than George Soros.
Soros Fund Management has amassed a nearly 8% stake in British soccer team Manchester United Football Club. The 19-time English league champions went public in New York earlier this month, raising $233.3 million.
Unlike his counterparts—including the owners of the Boston Red Sox, Liverpool Football Club, Tampa Bay Lightning, AS Roma and the Los Angeles Dodgers, to name a few—Soros' investment is unlikely to be panned as mere vanity. Indeed, the 82-year-old, who returned his firm's outside capital to investors, won't have much if anything to do with the management of Man U., since its principal owners, the Glazer family, retain 99% of the voting rights for the team.
All the same, it is not Soros' first foray into sports. He was a minority partner in a group that unsuccessfully sought to buy baseball's Washington Nationals seven years ago, and backed Major League Soccer's D.C. United.
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...