June 15, 2021

We bought the bottom, rebuilt the business, sold the hai. Elliot Foundation Biography.

Another of the top hedge funds, there is generally strategic investment in troubled companies.
Strategy I understand this - we go to the bottom and a lot, get on the board of directors, start our anti-crisis managers, carry out reorganization, grow capitalization, merge.

Elliott management corporationWe bought the bottom, rebuilt the business, sold the hai. Elliot Foundation Biography.
Story

Elliott Management Corporation is the managing directoraffiliate of the American flagship hedge funds Elliott Associates LP and Elliott International Limited. Elliott Corporation was founded by Paul Singer, who is the CEO of a New York-based company.

Paul Singer - American Managerhedge funds, investor, vulture capitalist and philanthropist. According to Forbes, his net worth is $ 3.5 billion. His hedge fund, Elliott Management Corporation (EMC), specializes in the acquisition of distressed debts. Singer was born in 1944 and raised in Theanek, New Jersey, in a Jewish family; he is one of the three children of a Manhattan pharmacist and housewife. He received a bachelor's degree in psychology from the University of Rochester in 1966 and a doctorate in law from the Harvard Law School in 1969. In 1974, Singer began working as a lawyer in the real estate department of Donaldson's investment bank, Lufkin & Jenrette.

Features

Elliott participated in most majorrestructuring after enterprise crises. In 2009, The Guardian announced that Singer “took control of Delphi Automotive, the sole supplier of most auto parts needed by General Motors and Chrysler, through a brilliantly sophisticated financial maneuver.” Ultimately, the US Treasury paid Elliott Management "$ 12.9 billion in cash and subsidies from the US Treasury bailout fund." In December 2011, Elliott Associates filed a lawsuit against Vietnam's state-owned shipbuilding company Vinashinav for default compared to the previous year on a syndicated loan of $ 600 million.

Structure

Elliott has four stock partners. Paul Singer and John Pollock are co-investment managers; Gordon Singer, the son of Paul Singer, runs the London office of Elliott. Stephen Kasoff, a former senior portfolio manager for the company, also received the title of shareholder in January 2015.

Branches and divisions

  • Hambledon, Inc. - A corporation in the Cayman Islands controlled by Singer.
  • NML Capital is a subsidiary of Elliott Management.
  • Kensington International Ltd. is a subsidiary of Elliott Management.
  • Maidenhead LLC and Warrington LLC are US companies that are controlled by Singer.
  • Elliott Advisors (UK) Ltd. is the “London Elliott Consultant”.
  • lliott Advisors (HK) Limited is the "Elliott Management Hong Kong Division."
  • Manchester Securities Corporation.
  • Strategy

    At the beginning of its story, Elliott focused onconvertible arbitration, focusing primarily on investing bad debts after the collapse of the 1987 stock market and the recession of the early 1990s. Elliott is known for restructuring American companies such as TWA, MCI, WorldCom and Enron, as well as foreign companies, including Telecom Italia SpA and Elektrim. Thus, the main investment approach of Elliott is crisis management of enterprises. List of some companies in which Elliott participated:

  • Shopko
  • Adecco
  • Novell
  • Vinashin
  • Compuware
  • Hess
  • Sanko steamship
  • 4Interpublic Group
  • Pernod ricard
  • Sigfox
  • Solar projects in UK
  • Comcast
  • CDK Global
  • LLCTelecom Italia
  • Samsung
  • Cabela’s
  • PulteGroupAlcoa
  • Athenahealth
  • AT&T
  • JW Marriott Desert Ridge Resort & Spa
  • Energy future holdings
  • Mentor Graphics Corp.
  • NXP Semiconductors NV
  • Oncor electric delivery
  • Akzo nobel
  • Waterstones
  • A.C. Milan
  • Barnes & noble
  • Time equities
  • A prime example of Elliott crisis managementis the crisis of the Italian football club A.C. Milan, from the city of the same name. The club is the second in the world after Real Madrid in the number of trophies, and was at the peak of fame until 2010, so the club has a good world name and a sufficient number of fans for the world club. After the sale of the club Silvio Berlusconi to the Chinese gray funds in the person of the owner Yonghun Lee, who could not change the situation in the club and was unable to repay the loan issued by Elliott, the club was transferred to the full ownership of Elliott. At the moment, it’s hard to say about the success of Elliott’s actions a little time has passed, the club has the same “average” positions, now the emphasis is on young players, i.e. for the long term.

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    Positions:
    BTCUSD Short with 8500, coup at 9571, no change.
    ETHBTC Long from 0.020930, flip to 0.019542, unchanged.
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    P.S. How I build my international hedge fund, research, deals and problems along the way, I write everything in my small telegram blog, I will be glad to support and advice - https://t.me/drsombre