He is hardly your average movie investor. He cultivates his privacy, and he heads a $13 billion hedge fund that, unlike those run by Carl Icahn and others, rarely mounts a proxy fight. But while most Hollywood bankers have turned off the money spigot, billionaire Paul Singer's Elliott Associates appears to be stepping up its investments. Last year the firm lent money to film investor Ryan Kavanaugh, who is providing financing for as much as 75% of Universal Studio's films through 2011. In recent days movie moguls have been buzzing that the hedge fund could be eyeing a play for the debt-hobbled MGM studio by buying up a small piece of the iconic film company's nearly $4 billion in debt.
It would be easy to pass off Singer as another well-heeled investor who has trooped into Hollywood since the days of Howard Hughes only to be sent packing after getting skinned by an industry where profits are sometimes as illusionary as the stuff they put on screen. But after only a few years in the business, Singer's outfit is impressing Hollywood's suits with its savvy deal-making...
Ronald Grover writes for BusinessWeek.
Hedge Fund Tweets
MoneyScience Twitter
 |
Barclay's CTA Directory contains a 3 page report filled with accurate information for each of the 705 Managed Futures programs contained in the current issue. |
With more than 2,000 pages of current, well-organized information at your fingertips, the Barclay CTA will help identify managers that meet your reward/risk parameters.