Hedge Fund Baron Likes Manchester United

Mar 13 2014 | 10:51am ET

British soccer giant Manchester United Football Club has turned things around after a disappointing start this season. Hedge fund Baron Capital expects that turnaround to continue financially.

The New York-based firm has bought a 2.4% stake in ManU, it said in a regulatory filing Monday. Baron made its move via the team’s New York-traded shares, buying up nearly a quarter of those available.

Man U’s shares account for only 10% of the team; the controlling Glazer family continues to own the remaining 90%.

On its website, Baron said it “remains positive” on Man U, citing an expected sponsorship deal with Nike that could be worth hundreds of millions of dollars.

In buying the Man U stake, Baron joins the likes of George Soros and GLG Partners, both of which held investments in the team last year. Odey Asset Management has taken a different approach, opening a US$5 million short bet against Man U.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of