Thursday, 2 October 2014
Last updated 17 hours ago
Jul 11 2008 | 11:35am ET
New York hedge fund manager Stanley Druckenmiller has confirmed that he is in talks to buy a stake in the National Football League’s Pittsburgh Steelers.
Druckenmiller, the chairman of Duquesne Capital Management, said he is in talks with the Rooney family—which founded the Steelers in 1933—about its ownership structure. Several members of the Rooney family are reportedly interested in selling the shares they control.
But Druckenmiller, who moved to Pittsburgh after college and whose firm’s name comes from the 18th century French fort that once stood across the Allegheny River from the Steeler’s current home at Heinz Field, insists that “any resolution involving me will guarantee the team remains in Pittsburgh.”
During his time in Pittsburgh, Druckenmiller became a die-hard Steelers fans, reportedly rarely missing a home game and who is known to host parking-lot tailgate parties and occasionally paint his face in team colors. He founded Duquesne in Pittsburgh almost 30 years ago; the firm maintains an office in suburban Upper St. Clair, Pa.
“My primary objective is to do what is in the best interests of the Pittsburgh Steelers franchise, the fans, the city of Pittsburgh, the Rooney and McGinley families and the National Football League,” Druckenmiller said in a statement. “I am more than aware how uniquely important the Steelers are to the city of Pittsburgh.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...