The Morning Brief: Paul Tudor Jones Buys Palm Beach Mansion

Paul Tudor Jones II has shelled out $71.2 million to purchase part of historic Casa Apava in Palm Beach County, Florida, according to The property, which reportedly has a landmarked house that was built in 1918 as well as 420 feet of oceanfront, is located on South Ocean Boulevard’s famed Billionaire’s Row. Ronald Perelman once owned the property. notes that just last week Jones made a speech decrying the widening gap between the rich and the rest of the country, calling it “disastrous.”


Ken Griffin’s Citadel is apparently building up its swaps business. The Wall Street Journal reports the Chicago firm’s market-making operation hired Simon Holmes from ICAP, a London-based brokerage firm. Holmes was formerly the chief operating officer of its electronic interest-rate swaps trading platform in the U.S., according to the report. He will serve as chief operating officer for Citadel Securities’ London-based fixed-income business.


Chris Dale, who spent nine years trading long-short equities at Israel “Izzy” Englander’s Millennium Management, plans to launch his own hedge fund firm in May, called Kintbury, according to Reuters. He raised at least $200 million for his London firm, according to the report. Dale reportedly has said he made $400 million in his years at Millennium. In his new fund, Dale plans to focus on long-term investments in large-cap European stocks. Dale is reportedly telling prospective investors that he is aiming for net annualized returns of 10 to 15 percent. Dale also brought in former Millennium colleague Nick Xanders, according to the report.



Shares of Sears Holdings quickly zoomed up 7 percent Wednesday on news that it plans a sale-leaseback of 254 stories. Under the deal, the embattled retailer would raise more than $2.5 billion selling the properties to Seritage Growth Properties, a real estate investment trust it plans to create, and then lease the locations. Investors initially got excited over the deal, but then sold off the shares, with the stock closing down $0.05 per share, to $41.33. Still the stock, whose largest shareholder is Sears’ chairman and CEO Edward Lampert, whether personally owned or through his hedge fund, Greenwich, Connecticut-based ESL Investments, is up 25 percent this year. However, the stock fell 28 percent in 2014.