Griffin of Citadel tells NYC Mayor that combating crime is the top priority
Mayor Eric Adams of New York City and other business leaders were informed by Ken Griffin of Citadel that public safety is of utmost importance and that the city cannot be business-friendly if a crime is a problem. Griffin stated that despite the fact that New York has the biggest concentration of financial expertise in the world, including more than 1,500 Citadel employees, crime still takes precedence, according to attendees at the closed-door roundtable conference on Thursday. (Bloomberg)
Following an activist hedge fund challenge, Disney stock rises
Nelson Peltz, an activist investor, has started a proxy battle to be on Disney's board. The development seemed to have pleased shareholders. Disney was the biggest performance in the Dow Jones Industrial Average on Thursday as the company was up about 2% shortly after markets started. That represents a welcome improvement over 2022 when Disney stock saw its worst year since 1974. (The Wall Street Journal)
Tory Donor earns £82 million more in a tough year
Alan Howard, a millionaire Tory supporter who last year hired Lady Gaga to sing at his wedding in Italy, earned £82 million a year from his hedge fund. According to documents submitted to Companies House on Wednesday, Brevan Howard Asset Management LLP paid Howard, who co-founded the fund in 2002, a total of £82,038,938 in salary for the fiscal year ending in March 2022. (The Guardian)
UK crash of Virgin Orbit
As shares of sister business Virgin Orbit decline following a botched launch attempt, a hedge fund located in Philadelphia is betting on Sir Richard Branson's spaceflight company Virgin Galactic. In October 2022, Bireme Capital made a long Twitter wager and earned a 35% profit; as a result, it enlarged its short book and ended the year with a 36% profit. Another target is currently Virgin Galactic. (Financial News)
Fund Two Sigma Hedge Keep 100 Avenue of the Americas Offices, 265K square feet
Hedge fund Two Sigma Investments decided to stay put after considering quitting its two-building Tribeca mini-campus, according to Commercial Observer. According to a source with knowledge of the agreement, Two Sigma inked a renewal to maintain its 265,000-square-foot headquarters at 100 Avenue of the Americas for an additional seven years. The asking rent per square foot was in the mid-$80s. (Commercial Observer)
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