Tuesday, 26 May 2015
Last updated 3 days ago
Jan 22 2009 | 12:23am ET
Chicago hedge fund JHL Capital posted double-digit returns last year betting on secured debt, it told investors.
JHL’s fund returned 17.1% and 18% in its Class A and Class B shares, respectively, according to a Tuesday letter to investors obtained by The New York Times. The firm’s founder, James Litinsky, told investors that it made money on secured debt in companies that it saw as undervalued and unlikely to default in the near-term, including The New York Times Co. itself.
“As bondholders, we are comforted by the fact that the Sulzberger family considers control of the New York Times part of their family heritage,” Litinsky wrote, a sentiment not shared by several hedge funds that own Times stock.
Litinsky also touted his fund’s investment in billboard company Lamar Advertising, another family-owned business.
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…