Saturday, 27 December 2014
Last updated 2 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.