Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

News Archive

Read More Industry News >

Kyle Bass Bets on JC Penney

Aug 20, 2013
Jing Chen

Unlike Bill Ackman, Bloomberg is reporting that hedge fund manager Kyle Bass is betting on a comeback by JC Penney.

Bass, whose Dallas-based Hayman Capital Management has accumulated a long position in the retailer over the last two week, is betting that the retailer “can stabilize sales and has enough cash and credit to carry it until the 2014 holiday season.” JC Penney’s stock fell 30% this year.

Ackman, of Pershing Square Capital, ended its public dispute with JC Penney last week after he resigned from the retailer’s board. eVestment reported that Ackman had pushed JC Penney to oust its chairman Tom Engibous, and claimed that important information regarding the retailer was withheld from him.

Hayman Capital, which focuses on corporate turnarounds, manages approximately $1.1 billion in assets.

 

Read More Industry News >


Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now


Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More