Sunday, 29 March 2015
Last updated 1 day ago
Jul 29 2014 | 8:36am ET
Hedge fund manager Jeffrey Vinik’s new life on Florida’s Gulf Coast is starting to take shape.
The Vinik Asset Management chief, who closed his hedge fund last year following big redemptions, is now focused on his Tampa Bay Lightning hockey team, which he bought in 2010. He’s also focused on building his second home in the region, having recently bought—and demolished—a house on St. Armands Key in Sarasota next to a plot he and his wife already own.
The couple plans to build a single home on the now-unified property, which overlooks Sarasota Bay. The house, when completed, will be valued at approximately $11.5 million.
Vinik paid $7.75 million for the two homes.
That’s less than Vinik will pay for the Channelside Bay Plaza shopping mall adjacent to the Tampa Bay Times Forum, where the Lightning play. Vinik’s bid, which has been accepted, was $7.1 million.
The Viniks, who moved from Boston to the Tampa area after buying the Lightning, already own a $6.5 million house in South Tampa, not far from the Forum and Channelside. Their new home will be about 60 miles south of their current digs.
The Viniks are still seeking a buyer for their Weston, Mass., estate, which is listed at $14.5 million.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…