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Elliott's British upper fixer gets another lift (Bloomberg)
For a business owner, a clean sale is usually better than the rigidity of advertising. But Elliott Management Corp.The company's decision to sell shares of Charter Court Financial Services Group Plc in 2017, rather than finding a buyer at any price, appears to have been justified: the British lender specialized is about to join in its rival OneSavings Bank Plc at a much higher valuation.
Investor Paul Shiverick sells his $ 21 million home in Palm Beach (Bloomberg)
Paul Shiverick, co-founder of the hedge fund management company Seminole Management Co., on vacation in Palm Beach, Florida, with his wife Betsy, a former currency trader. In 2013, "Our children were all away from home so we started spending more time here and then decided to make our home permanent," he says.
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GCP Applied Technologies Approaches an Agreement with Starboard: Sources (Reuters)
(Reuters) – GCP Applied Technologies Inc., a US supplier of building materials and building materials, is in the process of reaching an agreement on the composition of its board with an activist hedge fund LP Starboard Value, people familiar with the subject said Sunday. The agreement comes after Starboard acquired a 4.6% stake in GCP and nominated five candidates for election to the nine-member board of the company based in Cambridge, Massachusetts. GCP has agreed to nominate at least two of Starboard's nominees to its board of directors, the sources said. If negotiations succeed, the deal could be announced this week, the sources added.
Hedge funds continue their return from 2018 (HedgeWeek)
Hedge funds reported an average return of + 1.27% in February, according to the eVestment report of February 2019, which has just appeared and relies on a solid January to bring the cumulative performance to +4, 55%. The contrast with the average performance of the industry in 2018 (-5.05%) is striking and reflects the industry's efforts to meet the challenges of last year. The first two months of 2019 provided the best returns for the industry to start a year since 2012, when average yields were + 5.78% until February of this year. The big winners of the month were China-focused hedge funds, posting an average yield of + 17.17% in February, bringing the return since the beginning of the year 2019 to + 14.17%, against – 16.63% for funds focused on China in 2018.
Column: Reorganization of Sears bankruptcy allows Eddie Lampert to save $ 2 billion in taxes (ChicagoTribune)
At the time of the high street retailers, Sears said it was "Where America Shops for Value". Today, as a pathetic vestige of a once formidable company that is preparing to come out of bankruptcy, its new slogan should be "Where Eddie Lampert Shops for Tax Savings." Why do I say that? According to an analysis by tax expert Bob Willens of Robert Willens LLC, the reorganization of the Sears bankruptcy is organized to allow Lampert, a hedge fund operator, who is Sears' largest creditor and its former controlling shareholder, saving about $ 2 billion in income taxes.
$ 18 Billion Hedge Fund CQS Implants in the United States as New CEO Contemplates New Strategy (Business Insider)
A multi-billion dollar London-based hedge fund wants to expand its presence in the US and believes that customized strategies designed for specific investors are the answer. CQS, an 18 billion dollar hedge fund manager founded by a billionaire who was knighted by the queen, has appointed a new general manager, Xavier Rolet, late last year. The company had been led by Sir Michael Hintze during its first two decades of existence.
Interest on hedge funds of the Coltrane Over Rescue Hedge Fund (Standard.co.uk)
Coltrane, the US hedge fund threatening to sabotage the rescue of the troubled sub-contractor Interserve this week, has repelled the board's attempts to engage with it since December by refusing to sign confidentiality agreements, according to the standard. Interserve, which employs 68,000 people and is led by Chief Executive Officer Debbie White, saw its shares drop an additional 9%, or 1.3%, to 13.3% today, while was trying to avoid a collapse of Carillion style.
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