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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note