Hints and tips:
...But his original London-listed fund faces mounting challenges. To buy more songs, it needs to raise new equity....
...His post helped fuel a recovery in Treasury prices, after an earlier sell-off had pushed yields to 16-year highs....
...fund....
...Saba, his hedge fund, has been buying exposures to UK trusts. This has prompted speculation of an activist campaign....
...His career has been founded on making big bets when others were unwilling to do so, and he set out his investment views in a popular series of memos whose regular readers include Warren Buffett....
...Further reading:— Yield-crazed investors should not put too much faith in Hipgnosis (FT, 2020)— Stifel is worried that Hipgnosis Songs Fund is slipping out of tune (2021)— The music keeps on playing at Hipgnosis...
...Icahn owns most of an investment fund that pays a big dividend. He usually elects to take his dividends in new stock, so it’s not much of a cash cost....
...The yield on the debt financing, around 12 per cent at the time, would have been approaching the return Carlyle was hoping to earn, stifling interest from potential investors, according to one person involved...
...Others were tempted by the rising yields on products that had come nowhere near to matching Breit when rates were at rock bottom....
...But his greatest trick may be that his publicly listed investment vehicle, Icahn Enterprises LP, trades well above its net asset value....
...said the head of one Sequoia LP, a sovereign wealth fund....
...LPs finding themselves overcommitted to the asset class on the tail-end of the decade-long boom are also selling stakes in large buyout funds in the secondaries market, selling at up to 20 per cent discounts...
...One US fund manager told the FT his company was concentrating on consumer stocks, which seemed to have fewer national security complications....
...Higher yields are now more easily available elsewhere — and any major property downturn would hit it hard....
...Customers of New York-based Gemini’s crypto yield programme are owed $900mn from Genesis, the FT’s Nikou Asgari and Josh Oliver revealed....
...One of the investors in the Cerberus group is Kimco Realty....
...Here’s Gray talking about his “beloved BREIT” earlier this year....
...As DD explained last week, his original, London-listed fund is effectively frozen....
...The FT’s Anna Gross has dug into the details of what Chanos says is his “big short right now”....
...Exponent Founders Capital I, LP . . . SH Fund, LP . . . Curated [chef recommends] . . . Race Capital II, LP . . . Lifelike Capital [ridiculously minimalist website award winner] . . . ....
...The Klarna collapse also marks yet another disastrous investment by Masayoshi Son and his team at the Vision Fund, given that the Japanese investment group were the lead investors in the $46bn round last...
...He still owns a 7.4 per cent stake in the business, which will yield him about £300mn if shareholders back the sale. His wife owns a further 4.8 per cent stake....
...“Had we not sold the hedge, we could have likely realised more gains based on the increase in [yields], largely today, since our sale,” Ackman wrote in his letter....
...Sussman now reckons the stars are aligned for a similar upheaval in the corporate bond markets, and is determined that his hedge fund Paloma Partners will profit from it....
...His comments come as Blackstone sits on more funds than ever to invest, after drawing $154bn in new assets during the fourth quarter, split evenly between organic inflows and the closing of new insurance...
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