Elliott Raises $3.3 Billion To 'Be Ready' For Opportunities

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."


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR