Friday, 22 May 2015
Last updated 1 hour ago
Oct 9 2013 | 10:13am ET
Elliott Management has raised more than $3.3 billion in new capital, it told investors last month.
The new money was pledged to the hedge fund's capital commitment facilities, with $2.2 billion going to a new fifth facility and $1.1 billion to the fourth. Elliott announced plans to raise the new money in July, pledging that it would seek no more than $3.77 billion, Bloomberg News reports.
Elliott told clients that it wanted to have enough money to take advantage of opportunities that will arise when the market turmoil subsides. And it moved to explain why Elliott was raising money when so many of its peers were returning capital or closing to new investment.
"The question of the optimal (or maximum) size of Elliott (or any other fund) cannot be answered in the abstract; it is determined by the size of the markets in which we are trading and the pricing aberrations in those markets, which at times can be very significant and available in large size," the firm wrote. "We want to be ready."
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…