Hints and tips:
...Longevity master Edward Thorp, the legendary hedge fund manager who mastered besting casinos, is now 91 and taking on his next challenge: beating ageing, Bloomberg reports....
...As investors manage exposure to traditional private equity funds, it has spotted an opportunity it can’t pass up....
...Eurazeo’s boss is outnumbered by shareholders In the cut-throat world of publicly listed private equity, even masters of the universe must answer to shareholders....
...Credit Suisse has hired Jeff Spurlock as a managing director in its technology group, based in New York. He joins from UBS....
...Blackstone acquired debt manager GSO in 2008, seeding its expansion into credit and insurance-based investments, which now comprise 28 per cent of the group’s $940bn in assets....
...In the twilight years of the pre-crisis credit boom, the growth of secondary buyouts prompted concerns about dwindling investment opportunities, ailing returns and valuations detached from the strictures...
...He was one of the main drivers of Blackstone’s move into the credit business with the firm’s 2008 almost $1bn acquisition of GSO, which has since been renamed Blackstone Credit....
...Indeed, Blackstone’s founder Stephen Schwarzman has likened DCI to GSO Capital Partners, which it bought in 2008 and is today the heart of its $178bn credit business....
...But medium-sized businesses, which Mr deVeer said have “less flexibility in the public, liquid credit markets”, still offer significant opportunities, he added....
...Some of the highlights include Bill Ackman’s bet on corporate credit, which saw Pershing Square reap $2.6bn — one of the most successful trades of the year....
...As the men occasionally enjoy games of golf together, the opportunity for dealmaking is rife....
...The collapse in oil and gas prices in 2015 looked like an unmissable opportunity after bond prices tanked with plenty of hedge funds piling in....
...The list of investors that have stepped on such rakes reads like a who’s who of US credit hedge funds....
...The top leadership at GSO Capital, which has powered the firm’s credit division, is in the process of leaving....
...Blackstone, which prizes financial valuation skills among its employees’ superpowers, has opted for a pricier strategy with esteemed executives, including Bennett Goodman (pictured), the G in GSO, its credit...
...The FT’s Robin Wigglesworth reports on the various approaches used by systematic trading funds to conquer private equity....
...generate trading opportunities....
...For hedge funds that make their money gambling on whether companies will go bust, it was an opportunity too tempting to ignore....
...A New Jersey based housebuilder has failed in its latest effort to take advantage of a hedge fund battle ensuing over a controversial credit derivatives trade tied to its debt....
...fund GSO....
...Most nervous were the limited partners, or LPs — pensions, wealth funds and endowments — who contributed to buyout funds and who fretted that Masters of the Universe who just got a pile of cash would suddenly...
...Job Moves Tripp Smith, one of the co-founders of Blackstone’s GSO Capital Partners — and whose initial provides the S in the firm’s name — will leave Blackstone in June to "pursue other opportunities",...
...He said: “It’s all about freedom, opportunity and enterprise.”...
...Now the lobby that represents the pensions and endowments who put money into PE funds wants to put some parameters on how the masters of universe deploy such credit lines....
...It has credit and hedge funds like its rivals....
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