redemptions or lack thereof

  • William Ackman

    News

    Pershing Square Investors Standing By Their Man

    William Ackman’s bad year is taking a big toll. The activist hedge-fund manager has seen his firm’s assets under management decline by $1.2 billion from a high point earlier this year, largely due to investment declines, according to people familiar with its operations…At the end of September, Pershing Square’s total assets under management stood at […]

    / Oct 4, 2013 at 1:08 PM
  • empty-wine-bottles1

    News

    European Wine Fund Is Going To Need Investors To Sit Tight

    Nobles Crus, a struggling wine fund listed in Luxembourg, has been forced by the grand duchy’s financial regulator to bar its investors from withdrawing their money and also can no longer sell its shares after running out of cash. The decision by the Commission de Surveillance du Secteur Financier (CSSF) to “temporarily suspend all redemptions […]

    / Jun 10, 2013 at 6:58 PM
  • Hedge Funds

    So Long As John Paulson Doesn’t Work Up The Nerve To Send That Redemption Letter To A Certain Hedge Fund Located At 1251 Avenue of the Americas, New York, NY, 10020, Paulson & Co. Will Be Around For Years To Come

    Was 2011 a very kind year to John Paulson? No, it was not. Is 2012 shaping up to be any different? Not really, no. His proclamation that last year’s losses were but an “aberration” has not exactly been backed by the fact that AP was down 16 percent through June, Morgan Stanley’s prime brokerage put Paulson and Co. on a list of firms it warns clients not to invest with, and a few clients have not only quit the fund but told anybody who will listen that leaving was one of the best decisions they’ve ever made. Also not great is the fact that assets under management have declined 44.9 percent to $17 billion from $38.1 billion, due to a combination of unfortunate performance and redemptions. Happily, though, there is a silver lining that perhaps few people have thought of, namely that John Paulson’s got mucho of his own dinero in the firm and he hasn’t given up on the place yet.

    …the firm has a saving grace: About 60%, or $12.6 billion of June 30 assets are from employees. Observers said it is impossible to know how much of that employee asset pool belongs to John Paulson, the firm’s founder and president, but they speculate it is the vast majority. (By contrast, about 31% or 32% of Paulson & Co.’s assets are from institutional investors.) One source said the hedge fund manager’s size at its peak — before the performance decline — combined with the high percentage of employee capital have insulated Paulson from the crippling impacts that performance declines of this size and client redemptions would wreak on other firms.

    “It’s impossible for any other hedge fund firm to lose $17 billion and still be in business,” said the source, who asked for anonymity. “The firm will not fall apart because of this. Just John (Paulson’s) money alone is enough to keep the firm in business. But he is not going anywhere. There are absolutely no signs that John Paulson intends to do anything other than manage his way out of this.”

    This scenario would also have to assume that the firm stops losing money but regardless, suck on the above, New Mexico.

    Paulson Tries To Bounce Back [P&I via Dealbook]

    / Jul 23, 2012 at 3:56 PM
  • News

    PIMCO Pantry’s Supply Of Gourmet Popcorn In The Garbage Can-Sized Tins Will Live To See Another Day

    Bill Gross’s Pimco Total Return Fund, the world’s biggest mutual fund, attracted $231 million in investor deposits in January as performance rebounded. The new money ended three straight months of redemptions from Pimco Total Return, according to data compiled by Chicago- based Morningstar Inc. Investors pulled about $3 billion from the fund in the three […]

    / Feb 7, 2012 at 6:47 PM
  • News

    Phil Falcone Is Going To Hang On To That Cash For Now

    Earlier this week, Phil Falcone notified investors in his Credit Distressed BlueLine Fund, in advance of a previously announced April 2012 wind-up. Today, he sent out a letter notifying investors in Harbinger Capital Fund I, Harbinger Capital Partners Offshore Fund I, Harbinger Capital Partners Fund II, and Harbinger Capital Partner Offshore Fund II that they […]

    / Dec 9, 2011 at 3:38 PM
  • News

    Harbinger Capital Suspends Redemptions In Credit Distressed BlueLine Fund

    For about a year now, hedge fund manager Phil Falcone’s relationship with his investors has been a bit rocky. While many expressed displeasure at his decision to tie up a good chunk of money in a wireless bet that may or may not pan out, what really set a lot of people off was Falcone’s […]

    / Dec 8, 2011 at 11:36 AM
  • Hedge Funds

    Paulson And Co Investors Standing By Their Man

    John Paulson, the billionaire hedge- fund manager having the worst year of his career, has received less than 10 percent in redemption requests for his Recovery and Credit Opportunities funds for year’s end, according to two people familiar with the firm. Withdrawal orders for those two funds, which together managed about $15 billion as of […]

    / Oct 11, 2011 at 12:34 PM
  • Hedge Funds, News

    Highland Capital Investors Will Get Their Money…In 2014

    Which is a mere 6 years after they asked for it back, so, not much to complain about here.

    / Jul 19, 2011 at 6:20 PM
  • News

    Diamondback Capital Investors Didn’t Sweat FBI Raid

    Unlike certain other hedge fund investors (no names: FrontPoint) Diamondback clients have balls.

    / Feb 8, 2011 at 5:09 PM

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