It has been an eventful week, and it's easy to fall behind. Here are the 10 most important reads of the week.
Asia's Richest Families Are Abandoning "Complacent" Hedge Funds. For Michael Preiss, whose firm oversees $1.9 billion mainly for wealthy Asian families, adding hedge funds to his clients' portfolios was an easy sell some years ago. Not anymore.
Building An Investment Office, Reputation From Scratch | Exclusive Q&A With Jonathan Hook, CIO Of Weinberg Foundation. Jonathan Hook joined The Harry and Jeanette Weinberg Foundation as its inaugural chief investment officer in May of 2014. He oversees the foundation's $2.2 billion of investments across various asset classes.
Harvard Is Trying To Sell $2.5B In Endowment Assets. Harvard University's endowment is trying to sell about $2.5 billion of private equity, venture capital and real estate investments.
Rich Families Go Solo On Deals, Moving Away From Private Equity. Family offices, which manage the financial and personal affairs of the wealthy, are increasingly taking stakes in companies and committing staff to such efforts rather than investing in private-equity funds.
Family Offices To Thrive Where VCs Fail: Trusted Insight CEO | Video. What’s the goal of the investors who give the VCs their money? The panelists discuss LP expectations, future investment opportunity and advice to entrepreneurs to seek out VCs who offer more than just money. The panelists are Harry Stebbings from TwentyMinuteVC & SaaStr Podcast, Chris Douvos from Venture Investment Associates, Elizabeth "Beezer” Clarkson from Sapphire Ventures and Alex Bangash from Trusted Insight.
Paul Singer's Elliott Management Raises $5B In 24 Hrs. Paul Singer's hedge fund firm Elliott Management Corp raised more than $5 billion in about 24 hours this week, citing a major potential investment opportunity at a time when Singer said financial markets could face a disruption after being distorted by years of economic stimulus.
Labor Department Investigates 3M Pension Plan. The US Department of Labor has launched an investigation into manufacturing and technology giant 3M's $19.7 billion pension plan, the company revealed in its most recent quarterly report.
Apple To Create $1B U.S. Advanced Manufacturing Fund, CEO Says. Apple Inc Chief Executive Officer Tim Cook said the iPhone maker plans to create a $1 billion fund to invest in advanced manufacturing companies in the United States.
George Soros Sued For $10B Over More Global Meddling. Israeli company BSG Resources is suing George Soros for $10 billion in a new lawsuit filed in a New York federal court. They're suing him over meddling in the politics and business of the country of Guinea.
Dmitry Balyasny Wants To Be The Jeff Bezos Of Hedge Funds. Hedge fund managers have two "unappetizing" choices in today's market environment, Dmitry Balyasny, Managing Partner and Chief Investment Officer of the $12.1 billion hedge fund that bears his name wrote in the fund's first quarter letter to investors reviewed by ValueWalk.