Friday, 19 September 2014
Last updated 2 hours ago
Apr 3 2013 | 10:11am ET
Soros Fund Management has moved to redeem several hundred million dollars from Pershing Square Capital Management, amidst several prominent battles for the activist hedge fund.
New York-based Soros has made the withdrawal requests over the last several months, The Wall Street Journal reports. It is unclear why the firm, now a family office, has decided to pull the money from Pershing Square.
What is clear is that Pershing Square and founder William Ackman have been active in recent months. Most notably, Ackman has engaged in a war of words with nutritional supplements company Herbalife, and with longtime nemesis Carl Icahn. Ackman has accused Herbalife of being a pyramid scheme.
While his bet against Herbalife has earned Pershing Square investors a $200 million paper profit, things have gone less well with another of the hedge fund's major investments: retailer J.C. Penney. Ackman has lost about $500 million on paper on Penney, where he's installed a new CEO.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.