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☆ Peltz's Trian up 3% this year even as Disney bet soured
▼ + stars: | 2023-10-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +1 min

NEW YORK, Oct 10 (Reuters) - Nelson Peltz's Trian Fund Management returned nearly 3% in the first nine months of the year, investors said on Tuesday, as his bet on Walt Disney Co (DIS.N) contributed to the activist hedge fund lagging its peers' returns. Disney's stock price has tumbled roughly 30% since February, when Peltz ended a battle for a board seat but kept Trian invested in the stock. Some blue-chip activist investors, including Bill Ackman's Pershing Square Capital Management and Jeff Smith's Starboard Value, are posting better numbers. The average activist investor gained nearly 7% through the end of September, according to Hedge Fund Research data. At the end of June, the average activist investor was up 11.5% while Trian was up roughly 6%, HFR data and investors said.

Persons: Nelson, Peltz, Trian, Janus Henderson, Trian's, Bill Ackman's, Jeff Smith's, Svea Herbst, Bayliss, Nick Zieminski Organizations: Fund Management, Walt Disney Co, Disney, Reuters, Janus Henderson Group, Ferguson, Bill Ackman's Pershing, Capital Management, Pershing, Fund Research, Svea, Thomson Locations: Boston

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Companies, Lenders Clash Over Loan Spreads in Switch From Libor
▼ + stars: | 2023-01-13 | by ( Mark Maurer | ) www.wsj.com time to read: +7 min

As part of the shift, companies typically propose changes to their loan agreements with lenders, adjusting for the price difference between SOFR and Libor. The adjustment of the credit spread adds basis points to the interest rate on a loan to make up for the fact that SOFR has traded lower than Libor. The difference between SOFR and Libor can be as much as 25 basis points for loans with maturities of five to seven years. There will likely be more disagreements over credit spread adjustments as companies stop using Libor prior to its end. “There’s no reason to burn bridges over a few basis points,” Mr. Kerschner said.

☆ An uphill battle could await activist Trian as the firm snaps up a stake in Disney
▼ + stars: | 2022-12-03 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Trian calls itself a "constructivist," implying a more friendly activist investor. Trian, like most activist investors, intends to be friendly and always starts off that way, and then it is up to the company to respond. The firm is an activist investor, plain and simple. On Nov. 21, The Wall Street Journal reported that Trian Fund Management took an approximately $800 million stake in Disney. In this situation, Trian seems to be looking for a board seat and is urging Disney to make operational improvements and reduce costs.

☆ Credit Suisse nears sale of securitized-products group to Apollo, Pimco - source
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

Oct 26 (Reuters) - Credit Suisse (CSGN.S) is nearing a deal to sell its securitized-products group to investors Apollo Global Management (APO.N) and Pacific Investment Management Co, a person familiar with the matter told Reuters on Wednesday. The Wall Street Journal, which first reported about the development, said Credit Suisse will give details of the sale and other measures for a planned strategy change on Thursday. The consortium including Pimco, a big bond manager, and Apollo, a large alternative asset manager, beat out a group comprised of Centerbridge Partners and Martello Re Ltd., a life and reinsurance company, the WSJ report added. Credit Suisse and Pimco declined to comment, while Apollo, Centerbridge and Martello did not immediately respond to Reuters' requests for comment. Last week, Reuters reported that money managers Janus Henderson Group (JHG.N) and investment firms including Blue Owl Capital Inc (OWL.N) are weighing potential offers for the Swiss bank's U.S. asset management unit.

☆ Credit Suisse nears sale of securitized-products group to Apollo, Pimco -WSJ
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

Oct 26 (Reuters) - Credit Suisse (CSGN.S) is nearing a deal to sell its securitized-products group to investors Apollo Global Management (APO.N) and Pacific Investment Management Co, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The consortium including Pimco, a big bond manager, and Apollo, a large alternative asset manager, beat out a group comprised of Centerbridge Partners and Martello Re Ltd., a life and reinsurance company, the Journal reported. Apollo, Pimco, Centerbridge and Martello did not immediately respond to Reuters' requests for comment. Reuters reported last week that money managers Janus Henderson Group (JHG.N) and investment firms including Blue Owl Capital Inc (OWL.N) are weighing potential offers for the Swiss bank's U.S. asset management unit. Reporting by Mehnaz Yasmin in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Oct 21 (Reuters) - Money managers such as Janus Henderson Group (JHG.N) and investment firms including Blue Owl Capital Inc (OWL.N) are weighing potential offers for Credit Suisse Group AG's (CSGN.S) U.S. asset management unit, people familiar with the matter said on Friday. read moreJanus and rival asset manager AllianceBernstein Holding (AB.N), and Blue Owl as well as private equity firms Centerbridge Partners and Clearlake Capital are considering bids, the sources said. Credit Suisse, Blue Owl, Clearlake, Invesco and Janus Henderson declined to comment. Janus Henderson emerged in 2017 from the combination of Janus Capital Group and Henderson Group, and Blue Owl was formed last year from the three-way merging of Owl Rock Capital Group, Dyal Capital Partners and a blank check firm. Meanwhile, both Ameriprise and Invesco have been active buyers of asset managers in recent years.

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