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texas tycoon t. boone pickens shutters energy hedge fund


fort worth, texas — oil tycoon t. boone pickens is closing his dallas energy-focused hedge fund after what he describes as "one hell of a roller coaster ride."in a statement published on his linkedin page friday, the 89-year-old pickens says that "it's no secret the past year has not been good to me, from a health perspective or a financial one."pickens is recovering from a series of strokes and a fall last year. slumping oil and natural gas prices knocked him off forbes magazine's rich list in 2013.the closure of bp capital comes after pickens listed his prized texas panhandle ranch for $250 million in november.in the statement, pickens says he will continue to engage in philanthropy and politics and to provide his perspective on energy and cultural issues.






texas tycoon t. boone pickens closing energy-focused hedge fund


the 89-year-old pickens founded bp capital in 1996 after building one of the country’s biggest independent oil companies, mesa petroleum.fort worth, texas — oil tycoon t. boone pickens, who is recovering from a series of strokes and a fall last year, said friday that he is closing his dallas energy-focused hedge fund after what he described as “one hell of a roller coaster ride.”“it’s no secret the past year has not been good to me, from a health perspective or a financial one,” the 89-year-old pickens said in a statement published on his linkedin page. slumping oil and natural-gas prices knocked him off forbes magazine’s rich list in 2013.pickens founded bp capital in 1996 after building one of the country’s biggest independent oil companies, mesa petroleum.the fund’s “performance was dow






oil tycoon pickens puts texas ranch on market for $250m


miami, texas (ap) — famed oilfield wildcatter, financier and corporate raider t. boone pickens is selling his prized ranch, covering more than 100 square miles in the texas panhandle, for $250 million.pickens announced the sale wednesday of mesa vista ranch, about 90 miles northeast of amarillo.last month he put his dallas home on the market for $5.9 million.the 89-year-old pickens has had health concerns that include a series of strokes.most read storiesunlimited digital access. $1 for 4 weeks.pickens built one of the country’s biggest independent oil companies, mesa petroleum, before moving on to bp capital and founding clean transportation fuels company clean energy.he rose to national prominence in the 1980s when he led a series of takeover attempts, targeting phillips petroleum and ot






t. boone pickens lists his massive texas ranch for $250 million


oil tycoon t. boone pickens’ 65,000-acre ranch, which he’s been assembling piece by piece since 1971, is on the market for a whopping $250 million.spanning over 100 miles in the texas panhandle, the property known as the mesa vista ranch combines homes, lodges and luxury amenities with plains, man-made lakes and what pickens describes as “the world’s best quail hunting.”a private airport complete with a runway, tarmac and two-bedroom apartment for pilots greets guests.four homes provide accommodation. the biggest, a 33,000-square-foot lodge, sits in a tree-covered area and features a tennis court and golf course outside. the 65,000-acre ranch includes four homes, a two-story pub, a golf course and its own airport.  (mesa vista ranch)inside, white oak hardwood and stone floors lead through






hedge fund coatue bets on data science with investment in domino data lab


data scientists at coatue management llc spent the last few years digging into new data sets to gain an edge in investing. now, the firm is betting on data science itself as hedge funds across wall street push into “big data” analysis to find trading opportunities.the hedge fund led a $27 million funding round for a company called domino data lab inc., a san francisco startup founded by bridgewater associates lp alumni, the...






pine river capital management is shrinking


pine river capital management, one of the twin cities hottest hedge funds following the great recession, is closing its diversified flagship fund that has been pressured by market-lagging performance and client withdrawals, according to competitors and industry reports.a wave of client withdrawals from the flagship could bring assets down to as low as $300 million compared with a peak of about $1 billion for the 15-year old fund.overall, pine river’s assets peaked in 2015 at about $15 billion and slid to under $10 billion this year.competitors report waves of resumes from jettisoned pine river employees since 2016the minnetonka-based firm, which employed about 400 employees in 2014, has laid off an unspecified number from offices in the twin cities, london, new york, san francisco, hong ko






how a hedge-fund ace chased silicon valley riches—and embarrassed himself


for a solid decade, nick adams averaged 28% annual returns on the money he managed for a secretive trillion-dollar investment firm.then he fell in love with silicon valley venture deals. that’s when things took a very different turn.today, the wellington management co. star has been reduced to steps unthinkable for most hedge-fund...






the future is bumpy: high-tech hedge fund hits limits of robot stock picking


berkeley, calif.—for michael kharitonov, building a hedge fund based on machine learning has been a rule of threes: it was three times as hard, and it took three times as long, as anticipated.“most of the things we’ve tried have failed,” said the co-founder of a little-known firm called voleon group.machine learning, a set of techniques...






2 charged in 2015 slaying of rapper lionel pickens


new york (ap) — two long island men have been indicted in a 2015 shooting in queens that killed rapper lionel pickens and wounded his friend.queens prosecutors say the pair followed pickens from a nightclub in brooklyn to queens where they shot him and his friend who were sitting in pickens’ porsche.prosecutors say 26-year-old jamar hill, of valley stream, and 32-year-old quincy homere, of baldwin, are being held without bail after being arraigned thursday on murder, attempted murder and weapons charges.they each face up to 25 years to life in prison if convicted. information on their lawyers wasn’t immediately available.most read storiesunlimited digital access. $1 for 4 weeks.pickens, also known as chinx, was working on his debut album, “welcome to jfk,” when he died. the album was relea






csx railroad's top 2 executives retiring this spring


omaha, neb. — the top two csx executives plan to retire this spring from the railroad that is in discussions with a hedge fund seeking to install the executive who led canadian pacific's turnaround.csx corp. said tuesday that its chairman and ceo michael ward and president clarence gooden will both retire at the end of may. previously, ward had planned to work through 2019 before retiring.csx said it has promoted chief sales and marketing officer fredrik eliasson to president.the railroad said eliasson's appointment isn't meant to pre-empt discussions with paul hilal's mantle ridge hedge fund about hunter harrison becoming csx's next ceo.but csx has called for a special shareholder meeting this spring, so investors can weigh in on the demands the hedge fund is making.






sempra energy bids $9.45b for oncor, topping buffett offer


san diego — sempra energy is buying texas power transmitter oncor for $9.45 billion in cash, wresting it away from warren buffett's berkshire hathaway.sempra said monday that it will also pick up $9.35 billion of the company's debt. to gain possession of oncor, sempra will acquire the reorganized energy future holdings corp. energy future entered bankruptcy in 2014, saddled with more than $40 billion in debt due to cratering energy prices.berkshire hathaway said last month that it would buy oncor for $9 billion, and last week it stuck to that bid. hedge fund elliott management, which owns a significant portion of oncor's debt, opposed berkshire's takeover bid, saying it wasn't enough. but berkshire hathaway stood firm on its offer, saying last week that it would not be increasing the bid.s






hedge fund tries to lure techies with a relaxed office design


walk into the first floor of 131 sloane st. in london’s exclusive knightsbridge district and you might assume you are in a lavish private apartment. with its reclaimed-wood ceilings, antique industrial lighting and family photomontages, it looks like the home of a hip and successful creative type.but the property isn’t an artist’s lair or a writer’s den but rather the new headquarters of marshall wace asset management, a large hedge fund operator with $34 billion in assets under management as of sept 30....






jury deliberates in trial of ex-nyc jail guards union boss


new york (ap) — a jury has begun deliberations in the bribery trial of the former head of the nation’s largest municipal jail guard union.the manhattan federal court jury began its work wednesday after hearing instructions on the law read by judge andrew carter.jurors are deciding the fate of 57-year-old norman seabrook and hedge fund financier murray huberfeld.the deliberations began a day after closing arguments. prosecutors said the men conspired to pay seabrook kickbacks or bribes in return for his delivery of millions of dollars of union funds for investments in huberfeld’s hedge fund. they say he was given $60,000 and was promised between $100,000 and $150,000 annually.most read storiessale! save over 90% on digital access.lawyers for the men say that their clients acted honestly and






‘fist bumps’ at hedge funds over trump’s tax plan


u.s. hedge fund managers began warming to president donald trump soon after his surprise election ignited a powerful stock market rally. now, his dramatic tax cut plans give them even more reasons to cheer.trump, looking to make good on pledges for sweeping tax reform, on wednesday unveiled plans for a cut in the tax rate to 15 percent for so-called pass-through businesses. while the proposal is being billed as a boon for small businesses from pizzerias to investment management firms, one clear winner looks to be the hedge fund set, where owners can earn hundreds of millions in income a year, tax experts, managers, and their lawyers said on wednesday.“for hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly,” said robert willens, an independent tax






nestle stock surges amid reports us hedge fund takes stake


geneva — nestle says it's keeping "an open dialogue with all of our shareholders" after news reports that a u.s. hedge fund has taken a large stake sent shares of the swiss food and beverages giant soaring.shares of nestle jumped 4.4 percent to 85.70 swiss francs following reports that hedge fund kingpin daniel loeb's third point had taken a $3.5 billion, or about 1 percent, stake. nestle said it had "no specific comment."news reports cited a weekend letter from third point calling on nestle to sell its stake in french cosmetics company l'oreal, arguing that it was peripheral to the swiss company's core business and that a sale would be timely given l'oreal's recent performance.nestle's stock surge monday comes months after germany's mark schneider took over as nestle ceo.






hedge fund launches proxy fight against china’s sina


one of sina corp.’s biggest shareholders is launching a proxy fight with the chinese internet company, calling for measures it says will unlock value including a potential sale of itself or its big stake in wildly popular microblog service weibo corp.aristeia capital llc, a greenwich, conn., hedge fund with about $3 billion in assets, has proposed a range of options to address what it calls a persistent discount to sina’s underlying...






chicago piano titan willie pickens dies at 86


on tuesday afternoon, chicago piano giant willie pickens was practicing in a rehearsal room at jazz at lincoln center in new york.workers heard characteristically thunderous sounds emanating from the piano, said trumpeter marquis hill, whose band was preparing to rehearse with pickens for a scheduled wednesday night show at dizzy’s club coca-cola at jalc.“he was admiring the building, the practice room, super excited to be at the venue to come play with us,” said hill, a pickens protege who won the thelonious monk international jazz trumpet competition in 2014 and wanted to honor pickens with this engagement.“he was walking from the practice room to the club — which is on the same floor, around the corner — and they said he collapsed in front of the door on his way into the sound check.“he






sempra energy bids $9.45b for oncor, topping buffett offer


san diego (ap) — sempra energy is buying texas power transmitter oncor for $9.45 billion in cash, wresting it away from warren buffett’s berkshire hathaway.sempra said monday that it will also pick up $9.35 billion of the company’s debt. to gain possession of oncor, sempra will acquire the reorganized energy future holdings corp. energy future entered bankruptcy in 2014, saddled with more than $40 billion in debt due to cratering energy prices.berkshire hathaway said last month that it would buy oncor for $9 billion, and last week it stuck to that bid. hedge fund elliott management, which owns a significant portion of oncor’s debt, opposed berkshire’s takeover bid, saying it wasn’t enough. but berkshire hathaway stood firm on its offer, saying last week that it would not be increasing the






nestle stock surges amid reports us hedge fund takes stake


geneva (ap) — nestle says it’s keeping “an open dialogue with all of our shareholders” after news reports that a u.s. hedge fund has taken a large stake sent shares of the swiss food and beverages giant soaring.shares of nestle jumped 4.4 percent to 85.70 swiss francs following reports that hedge fund kingpin daniel loeb’s third point had taken a $3.5 billion, or about 1 percent, stake. nestle said it had “no specific comment.”news reports cited a weekend letter from third point calling on nestle to sell its stake in french cosmetics company l’oreal, arguing that it was peripheral to the swiss company’s core business and that a sale would be timely given l’oreal’s recent performance.nestle’s stock surge monday comes months after germany’s mark schneider took over as nestle ceo.most read st






partech ventures raises $450 million fund


partech ventures has raised so many funds over the past couple of years that it’s hard to keep track of all of them. this time, the vc firm is closing the fundraising of partech international ventures vii. with $450 million under management (€400 million), the team plans to use this money for series a and b investments.this was the upper limit of this fund, so partech ended up raising as much money as it could for this fund. according to les echos, limited partners include nokia, l’oréal, cisco, accenture, intuit, renault and adecco.while most of the team is in paris, partech is doubling down on the u.s. by expanding its team on the ground. there will be 5 people on the investment team in san francisco.partech has already started investing with this new fund in chronext, qapa, akeneo, a/b






partech ventures raises $450 million fund


partech ventures has raised so many funds over the past couple of years that it’s hard to keep track of all of them. this time, the vc firm is closing the fundraising of partech international ventures vii. with $450 million under management (€400 million), the team plans to use this money for series a and b investments.this was the upper limit of this fund, so partech ended up raising as much money as it could for this fund. according to les echos, limited partners include nokia, l’oréal, cisco, accenture, intuit, renault and adecco.while most of the team is in paris, partech is doubling down on the u.s. by expanding its team on the ground. there will be 5 people on the investment team in san francisco.partech has already started investing with this new fund in chronext, qapa, akeneo, a/b






dymon asia announces first close of its debut $50m fund for fintech


hedge fund dymon asia is getting into the venture capital game after it announced its maiden fund.dymon asia ventures is focused on fintech deals and it is targeting a $50 million raise. today, its founding partners disclosed a first close of $20 million from a range of lps that include thai bank siam commercial (scb), which invested an undisclosed sum via its digital ventures arm. dymon asia said a final close of the fund will happen over the next 12 months.the singapore-based firm is looking to invest in 12-15 companies over the lifecycle of the fund. it has already popped the lid and funded a portfolio of five so far: blockchain startup otonomos, financing firm capital match, forex-focused 4xlabs, trading platform spark systems and marketing service weconvene.in an interview with techcr






diversifying an oil and gas economy in carlsbad


carlsbad, n.m. — in 2015, t. boone pickens predicted the price of crude oil would rocket to $70 per barrel by the end of the year.it was a message of hope, delivered at the annual energy summit in carlsbad, for the southeastern new mexico community that was feeling the pinch of a worldwide oil glut and a downslope market.more than two years later the price of crude hovers around $50 per barrel, never having reached pickens' predicted high.when the price of crude oil took a downturn in 2014, the city — just establishing a name for itself in the oil and gas industry — was left holding the bag.now touted as an area of growing economic growth thanks to the boost in popularity of the permian basin — an area where some of the world's largest producers of crude oil and natural gas have establishe






breweries patch the gaps between oil booms in southeastern nm


in 2015, t. boone pickens predicted the price of crude oil would rocket to $70 per barrel by the end of the year. it was a message of hope, delivered at the annual energy summit in carlsbad, for the southeastern new mexico community that was feeling the pinch of a worldwide oil glut and a downslope market.but more than two years later the price of crude hovers around $50 per barrel, never having reached pickens’ predicted high.when the price of crude oil took a downturn in 2014, the city — just establishing a name for itself in the oil and gas industry — was left holding the bag.now touted as an area of growing economic growth thanks to the boost in popularity of the permian basin — an area where some of the world’s largest producers of crude oil and natural gas have established extraction






investor: shkreli reported too-good-to-be-true returns


new york (ap) — an investor in “pharma bro” martin shkreli’s hedge fund says he wowed her by reporting eye-popping returns that prosecutors say were a lie.sarah hassan (has’-uhn) testified thursday as the first witness at shkreli’s security fraud trial.she told jurors she invested $300,000 with shkreli in 2011 after being told he was “a rising star in the hedge fund world” who managed $40 million. she said she was thrilled when he reported she made nearly $60,000 that year alone.but prosecutors say shkreli was concealing the fact that his fund was tanking because of bad stock bets.most read storiessave over 90% on select subscriptions.the 34-year-old shkreli is notorious for raising the price of a life-saving drug 5,000 percent and for his nonstop social media posturing.his lawyers say he’






former mariner bret boone apologizes for harassment remarks


former seattle mariners second baseman bret boone apologized wednesday for making light of sexual harassment in a message to a reporter."all, there are zero excuses for what i said earlier," he wrote on his twitter feed. "none. it was 100% wrong. it was offensive. it was inappropriate. it was not remotely productive to any conversation regarding harassment. i apologize and it will never happen again."seattlepi.com reporter stephen cohen wrote wednesday that after he tweeted about his disappointment in the allegations against radio host garrison keillor, boone sent him a direct message on twitter. boone wrote that he got sexually harassed "twice today," when "the starbucks girl" smiled at him and when a woman at a drugstore flirted with him.boone further joked that he was getting a lawyer a






sempra beats out warren buffett in battle to acquire texas transmission company


sempra energy is about to wrap up a mega-deal to acquire a power transmission company located in dallas, and the san diego-based fortune 500 company seems to have beat out warren buffet in the process.multiple sources reported sunday evening that sempra’s $9.45 billion offer for oncor electric has been accepted by energy future holdings, a bankrupt texas utility that is the parent company of oncor.the $9.45 billion price tag exceeds a $9 billion offer by warren buffet’s berkshire hathaway inc., which made the offer two months ago.buffett is famous for refusing to take part in bidding wars and the wall street journal reported sunday that sempra had sweetened its initial bid of $9.3 billion for oncor.officials at sempra, oncor and berkshire hathaway did not respond to requests for comment su






this old school hedge fund is going quant


evanston, ill.—alec litowitz, founder of one of the country’s largest hedge funds, raised a simple question at the firm’s investment committee meeting: how often do mergers fall apart?no one had the answer, so the magnetar capital llc founder assigned a team of analysts to pore through three decades of data to find out. they calculated that while 7% of announced transactions eventually collapse, the market behaves as if nearly...






radioshack files for bankruptcy for second time in 2 years


fort worth, texas — troubled electronics retailer radioshack has filed for bankruptcy for the second time in just over two years.the fort worth, texas-based retailer filed its petition in bankruptcy court in delaware on wednesday.the company says it's closing about 200 stores and evaluating options on the remaining 1,300.in a statement, radioshack president and chief executive officer dene rogers said since the company's bankruptcy filing in 2015, the retailer had made progress in stabilizing operations, including reducing operating expenses by 23 percent.but rogers says several reasons, including a partnership with wireless carrier sprint that proved not to be as profitable as expected, prompted the latest bankruptcy filing.general wireless, part of hedge fund standard general, acquired t






chinese government creates gate-guarded private village for hedge-funds near han


yuhuang shannan -- an hour's high-speed train journey from shanghai -- is a newly formed, walled village in which only hedge fund employees and their visitors are allowed to venture, a kind of canary wharf with chinese characteristics, with schools staffed by non-chinese teachers, a private club, and its own health care facilities. report this ad hedge funds in china -- like hedge funds everywhere -- are losing money on average, but they're losing it at a slower rate than local equity and credit markets, so they have not faced the investor exodus that has threatened the hedge fund industry out of china. many western hedge funds are relocating to china, claiming that the country's inefficient markets offer opportunities to "achieve alpha" and beat the market (if the chinese government does






sempra makes a big splash, buying texas power transmission company


there was no hint of buyer’s remorse on the part of leadership at sempra energy on monday morning after the san diego-based fortune 500 company outbid warren buffett to acquire a power transmission company in a multi-billion dollar deal that made financial headlines across the country.“this is a great fit for our portfolio,” said debra reed, sempra’s ceo hours after sempra confirmed it will pay $9.45 billion in cash to pick up oncor, the largest electric transmission and distribution system in texas.it’s the biggest acquisition for sempra since the company was formed in 1998 and substantially expands its footprint in one of the most energy-rich states in the country.as part of the deal, sempra will also acquire energy future holdings corp., a bankrupt dallas-based utility that is an indire






500 startups closes $15m fund to back founders in the middle east and north afri


fresh off closing a $10 million fund earlier this year for latin american startups, 500 startups has pulled together capital for a new $15 million fund that will exclusively target startups in the middle east and north africa (mena).despite just closing today, 500 startups has already made 39 investments in mena out of other funds, so the group does have experience deploying capital in the region. the oman investment fund and the qatar science and technology park are serving as anchors for the new fund. the oman investment fund has previously invested capital into 500 startups’ main fund, but the qatar science and technology park is new.hasan haider, the managing director of 500’s mena fundhasan haider, the managing director of the mena fund, has a massive task ahead of him. the middle eas






500 startups closes $15m fund to back founders in the middle east and north afri


fresh off closing a $10 million fund earlier this year for latin american startups, 500 startups has pulled together capital for a new $15 million fund that will exclusively target startups in the middle east and north africa (mena).despite just closing today, 500 startups has already made 39 investments in mena out of other funds, so the group does have experience deploying capital in the region. the oman investment fund and the qatar science and technology park are serving as anchors for the new fund. the oman investment fund has previously invested capital into 500 startups’ main fund, but the qatar science and technology park is new.hasan haider, the managing director of 500’s mena fundhasan haider, the managing director of the mena fund, has a massive task ahead of him. the middle eas






500 startups closes $15m fund to back founders in the middle east and north afri


fresh off closing a $10 million fund earlier this year for latin american startups, 500 startups has pulled together capital for a new $15 million fund that will exclusively target startups in the middle east and north africa (mena).despite just closing today, 500 startups has already made 39 investments in mena out of other funds, so the group does have experience deploying capital in the region. the oman investment fund and the qatar science and technology park are serving as anchors for the new fund. the oman investment fund has previously invested capital into 500 startups’ main fund, but the qatar science and technology park is new.hasan haider, the managing director of 500’s mena fundhasan haider, the managing director of the mena fund, has a massive task ahead of him. the middle eas






csx railroad wants shareholder vote on hedge fund's demands


omaha, neb. — csx wants its shareholders to vote on the demands a hedge fund is making as it seeks to install the executive who led canadian pacific's turnaround at the u.s. railroad.the jacksonville, florida-based csx said tuesday it will call a special shareholder meeting so investors can have a say on the requests from paul hilal's hedge fund, which it detailed in a statement.the railroad said the hedge fund and railroad executive hunter harrison want excessive compensation and enough board seats to effectively control csx even though the mantle ridge fund controls less than 5 percent of the railroad's stock.csx said it is open to hiring harrison to lead the railroad, but not on the expensive terms he wants. the railroad said it estimates that harrison's requested compensation would cos






wcco radio legend roger erickson dies


roger erickson, a wcco-am radio legend who offered generations of minnesotans a laugh over their morning coffee and commute, the news of the day and school-closing information on snowy days, died monday.erickson, with his deep and melodious voice, and “his other half,” charlie boone, were the “boone and erickson” morning show at 830 am on the radio dial for 38 years. the two were the longest running on-air duo on a single station in american broadcasting, they said in a 2013 video interview.for decades, more than half of local radios would tune into boone and erickson’s show. their folksy chat recalled an earlier era for many listeners and the two were notorious for involving interview subjects — from hollywood actors to minnesota governors to state troopers — in skits and sketches.in a 19






why invenergy is betting on clean energy tech despite trump


the trump administration may be pushing investments in the struggling coal industry, but some proponents of clean energy say now is a great time to invest in technologies for renewables.amy francetic ⇒ is senior vice president of corporate affairs at chicago-based renewable energy company invenergy. she’s also managing director of its venture arm, the invenergy future fund, which announced its first close wednesday. the future fund will focus on b and c round investments of about $4 to $5 million; invenergy ceo michael polsky ⇒ is chair of the future fund’s investment committee.francetic is among those who sees opportunity in backing companies and technologies that, in her words, can “help make energy more affordable, more reliable and more secure.”francetic declined to say how much invene