Robert Cavallito’s Post

We are huge proponents of experimental revenue models for publishers, fully believing that the limited scope of monetization ideas (ads or subs!) of the past is partly responsible for the current troubles of the industry. This from the FT: "A US hedge fund has raised $100mn to make trades based on articles by its affiliated newsroom, launching a novel experiment in funding investigative reporting as the media industry suffers a fresh round of lay-offs." https://lnkd.in/ejdjEuJG #media #newmedia

Bill Ackman is gearing up to launch a NYSE-listed fund, and it's causing a stir. 1. This fund is set to be one of the largest ever, offering regular investors like you and me a chance to get in on the action. 2. Unlike typical hedge funds that demand hefty minimum investments ($100,000 to Millions), Ackman's fund breaks the mold by having no minimum investment. That's a game-changer for retail investors looking to dive into high-quality investments without breaking the bank.#AckmanFund #InvestingForEveryone #AccessibleInvesting

Where have all the hedge fund superstars gone? The days of investors trusting a star hedge-fund manager with their cash are in the rearview mirror, writes Business Insider's Linette Lopez. Unlike years ago, hedge funds are no longer the only game in town for institutions or the ultra-wealthy looking to park their cash somewhere. Venture capital, private credit, and private equity have grown considerably over the past decade. And the big names that remain in the industry are starting to resemble Wall Street banks in their size and complexity. More on Business Insider #hedgefunds #wallstreet #investing

My piece in the FT today on the masters of the universe on Wall Street... Can hedge funds become asset gathering machines like private firms? Has Bill Ackman called the top on his own performance? Remember how Och Ziff turned out...a slow car crash! The big 3 in PE - Blackstone, KKR and Apollo - today manage $2.3 trillion of assets under management....PE is only 30% of Blackstone today... HFs never scaled and the top "pod shops" are closed to new money or quasi-family offices... Ackman is raising permanent capital so not the issue of monthly redemptions but what PE multiple do you put on an earnings stream from a firm that has massive key man risk and looks so different to the infrastructure and diversification of a Citadel? What do you think? #markets #IPO https://lnkd.in/eZpeMN7x

Billionaire investor Ackman kicks off fundraising for new US fund Hedge fund manager Bill Ackman kicked off fundraising for a new U.S.-listed closed-end fund on Tuesday. The new fund, Pershing Square USA Ltd, will offer lower fees for investors and quicker access to capital than traditional hedge funds, regulatory filings show. There will be no management fee charged for the first year after the fund's initial public offering and no performance fees ever. It will be listed on the New York Stock Exchange and be available to anyone who can invest in the U.S., including pension funds, endowments and retail investors. Roughly 80% is expected to be raised by institutions, with retail investors making up the rest, a filing made Tuesday shows. Ackman, a heavy user of social media platform X, referenced the fundraising on Tuesday when he messaged his 1.3 million followers "I am going to be busy for the next few weeks. $PSUS!!" Investors, including ones unable to write the multimillion-dollar checks Wall Street hedge funds traditionally demand, can pay $50 a share for the new vehicle. #billackman #retailinvestors #newlaunch #wallstreet #money #X #socialmedia #hedgefund # source : reuters

In our newest episode of Private Market Talks, we are joined by Caroline Cooley, managing partner and CIO for Crestline Summit Strategies, which she has helped build into a multi-strategy, multi-portfolio and multi-billion-dollar asset manager. In a conversation co-hosted by Proskauer partner Kelli Moll, co-head of the Firm’s Hedge Funds practice, we explore Crestline’s “platform model,” its strategy for delivering alpha, the hedge industry’s evolution and more. Listen now: https://bit.ly/3yeMr9E #Proskauer #privatecapital #InvestmentStrategies #RiskManagement #hedgefund #privatemarkets #creditfunds

75 years ago the first "hedged" fund was launched. Read my conversation with Seward & Kissel LLP attorneys Patricia A. Poglinco, partner at Seward & Kissel and co‑head of the firm’s investment management group, and James Cofer, managing partner and head of the firm’s tax practice, about the launch of the first hedge fund, how the private fund space has evolved since then, current trends in the space and what future developments might occur. #HFLR #hedgefunds

One hedge fund to rule them all. Ken Griffin’s #Citadel generated $8.1 billion in gains for #investors in 2023, helping to extend its lead as the world’s most profitable #hedgefund, according to data from LCH Investments. The firm’s $74 billion in all-time gains is nearly $20 billion more than the funds tied for second all-time (D.E. Shaw and Millennium). #Finance #Business #WallStreet #Money #Profits https://lnkd.in/gvy_YFP2

Bill Ackman drops fundraising target for US fund’s IPO to $2bn Bill Ackman has cut the amount he is seeking to raise in the initial public offering of his US investment fund Pershing Square Capital Management, L.P. to $2bn, a fraction of the $25bn the billionaire hedge fund manager had initially targeted. The reduction in the fundraising target is the second in a matter of days for one of the highest-profile investors on Wall Street, and follows an unexpected delay last week caused by a letter Ackman sent to investors in his hedge fund, Pershing Square Capital Management. Pershing Square Capital Management, which will manage the investments in the US-listed fund as well as its European counterpart, will contribute $500mn to the offering as the anchor investor, according to a filing published on Tuesday. Please read the article by Financial Times or more details (https://lnkd.in/g2Qu5k4r) #IPOs #capitalmarkets #hedgefund #billackman #X #billiondollars