Tiger Management founder Julian Robertson has seeded another hedge fund. Robertson has invested in Tiger Pacific Capital, which specializes in Asia. It was founded by Run Ye, Junji Takegami and Hoyon Hwang, who previously worked at Bill Hwang’s Tiger Asia Management, which shuttered in August. Tiger Asia was one of the first funds Robertson seeded, more than 10 years ago.
Harbinger Group has entered into a joint venture with EXCO Resources to create a private oil and gas limited partnership that will purchase and operate EXCO’s producing U.S. conventional oil and gas asset. The total value of the deal is $725 million. Under the terms of the transaction, Harbinger, the publicly-traded holding company operated by controversial Harbinger Capital Management founder Phil Falcone, will contribute $372.5 million in cash. The partnership will also be funded with $225 million of bank debt and $127.5 million in oil and gas properties and related assets being contributed by EXCO. In return, Harbinger will own 75 percent of the partnership and 50 percent of the general partner interest. The Securities and Exchange Commission charged Falcone with fraud earlier this year; Falcone has denied the charges.
Netflix has adopted a poison pill to thwart Carl Icahn’s hostile bid for the company. The Shareholder Rights Plan gives investors the right to buy more Netflix stock if a person or group acquires 10 percent or more of Netflix’s common stock in a transaction not approved by Netflix’s board of directors. Last week, Icahn reporting owning 9.98 percent of the movie and video game rental company. In response to Netflix’s move, Icahn said in a subsequent regulatory filing: “As one of the company’s largest shareholders we are concerned about the poor corporate governance at Netflix that these and other actions reflect.”
Davidson Kempner disclosed that it owns 7.51 percent of Aquasition Corp., a shell company created to acquire operating businesses and assets in the international maritime transportation, offshore, and related maritime services industries. The company, which has a $14 million market cap, was founded in 2012.
Citadel Advisors disclosed it owns 5.7 percent of Meritage Homes, a builder of single family homes. This filing was disclosed through a 13G.
