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The Morning Brief: Farallon Raises $250 Million for Long-Only Funds

Farallon Capital Management raised about $250 million for two new long-only funds — Farallon Equity Partners International Ltd. and Farallon Equity Partners. The funds, headed by John Warren and David Kim, are designed to invest in U.S. equities. This is the first long-only offerings for the San Francisco hedge fund firm, which currently manages $20.5 billion.

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John Paulson agreed to put up personal assets as collateral to obtain a credit line from HSBC Bank USA for his hedge fund firm, New York-based Paulson & Co., according to Bloomberg, citing a government filing dated December 18. The wire service says the billionaire pledged his personal assets for four of the $18 billion firm’s funds: Paulson Partners Enhanced, Paulson Advantage II, Paulson Advantage Plus II and Paulson Credit Opportunities IV. The credit line is nothing new; he has had it for at least five years, a Paulson spokesman told the wire service in a statement.

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Lone Pine Capital disclosed in a regulatory filing it owned 5 percent of lululemon athletica as of January 15. We earlier reported that the retailer of yoga wear and other athletic clothes accounted for 2.2 percent of the Greenwich, Connecticut firm’s long-short fund, Lone Cypress.

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Redwood City, California–based Dorsal Capital Management disclosed it owns 3.1 million shares of Infoblox, or 5.2 percent of the provider of computer network services. It did not own any shares of the company at the end of the third quarter, the most recently available data on stock holdings.

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New York-based Tourbillon Capital Partners more than doubled its stake in Radius Health to more than 2.3 million shares, or 5.4 percent of the biopharmaceutical company.

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Agecroft Partners announced it will donate all its profits from a new conference, Gaining the Edge – 2016 Hedge Fund Marketing Leadership Summit, scheduled for April 28 at the Roosevelt Hotel in New York City. The money will go to charities that benefit children, mostly Hedge Fund Cares and the World Pediatric Project. Agecroft Partners is a global third-party marketing firm.

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