Business U.S. hedge fund King Street Capital Management LP has proposed new independent directors at Japan's Toshiba Corp , the Wall Street Journal reported on Friday, citing people familiar with the matter. 31 Aug 2018 02:20PM Bookmark REUTERS: U.S. hedge fund King Street Capital Management LP has proposed new independent directors at Japan's Toshiba Corp , the Wall Street Journal reported on Friday, citing people familiar with the matter.King Street's proposal is the first sign of dissatisfaction among the foreign funds that bought into Toshiba last year, the Journal reported. https://on.wsj.com/2PnJ2cZThe U.S. hedge fund is the third largest shareholder in Toshiba, with a 5.23 percent stake, according to Thomson Reuters data.King Street did not immediately respond to a request for comment while Toshiba declined to comment.(Reporting by Bhanu Pratap in Bengaluru; Editing by Sunil Nair) … [Read more...] about US hedge fund King Street seeks board shake-up at Toshiba: WSJ
Hedge fund journal
By Rob Copeland The Wall Street Journal Thu., Aug. 23, 2018 At hedge funds, women do just about any job—but rarely run the money. Of the largest 50 U.S. hedge funds by assets under management, only two have women as their top investment executive, according to a Wall Street Journal analysis of data from researcher Absolute Return. In that same group of 50 hedge funds, half the investor-relations or marketing departments have female heads or co-heads. Below the top manager, investment teams are overwhelmingly male at hedge funds, according to industry executives, who call it an extreme example of a larger reality: Women are clustered in specific and lower-paying corners of the financial world. The sorting starts early, according to industry executives. They say men are typically brought in as traders or analysts, often after entry-level stints in investment banking or private equity. They are trained by funds on buying stocks, bonds and other assets with client … [Read more...] about At hedge funds, where are the women?
caption Ray Dalio, founder, co-chief investment officer and co-chairman of Bridgewater Associates, speaks at the 2017 Forbes Under 30 Summit in Boston, Massachusetts, U.S. October 2, 2017. source Brian Snyder/Reuters Hedge funds are the wild cards of financial markets with less regulation, formality, and scrutiny then the big banks yet still managing assets worth billions of dollars. Some sharply criticize their activities and lack of transparency, but others say they bring valuable diversity to markets and act as shock absorbers against volatility. The sector saw it’s best results since 2013 last year, producing an 8.5% return up, from 5.4% in 2016. But despite the stronger outlook, back-to-back loses in recent months caused by trade disputes, tech sector setbacks, and interest-rate hikes by the Federal Reserve have dampened returns. Even in the midst of these adverse conditions hedge funds are still a dominant and formidable power, wielding billions of … [Read more...] about RANKED: The 10 biggest hedge funds in the US
Dan Och, the founder of the world’s largest publicly traded hedge fund, is at odds with his 34-year-old protégé Jimmy Levin, the Wall Street Journal reported. Levin, who has known Och since he taught Och’s son how to waterski at a Wisconsin summer camp in the late 1990s, had been expected to succeed Och at Och-Ziff Capital Management. But the founder appeared to have abruptly changed his mind over Christmas weekend when Och-Ziff rushed out a letter to clients saying that Och had decided not to. Here are the main takeaways from the WSJ report:Many inside Och-Ziff were shocked by the shift. People close to Och say he thinks Levin asked for more money and power than he deserved. Och-Ziff is interviewing external execs about becoming the firm’s CEO, and Levin is discussing what’s next for his own future. Och told the WSJ in a statement: “We are engaged in a robust CEO succession process that is progressing well. We have a committed … [Read more...] about The founder of controversial hedge fund Och-Ziff is reportedly at odds with the 34-year-old who had been set to succeed him
T. Boone Pickens announced Friday that he was closing down BP Capital, his energy-focused hedge fund. He cited health issues and a “roller coaster ride” while running the company. T. Boone Pickens said Friday that he was shutting down BP Capital, his energy-focused hedge fund, and transitioning towards a family-office structure. Pickens, 89, cited health concerns and a loss of interest in trading oil for this decision in a letter. The oil crash that began in 2014 roiled several energy-focused funds as prices fell by more than 70%. Of BP Capital, which he launched in 1996, Pickens wrote: “it has been one hell of a roller coaster ride,” adding that oil trading was no longer “as intriguing” as it once was. The firm’s assets totaled about $1 billion in recent years, The Wall Street Journal reported. Pickens said he was recovering from a series of strokes he suffered late last year, and a … [Read more...] about Legendary investor T. Boone Pickens is shutting down his energy-focused hedge fund