Per bloomberg Kendall Family Investment llc is a private firm and is owned and controlled by Louis Moore Bacon
Company Profile Sector: Financials Industry: Asset Management Sub-Industry: Investment Companies Kendall Family Investments, LLC operates as an investment firm.
Who is Louis M Bacon? Louis Moore Bacon (born July 25, 1956) is an American investor, hedge fund manager, and philanthropist.
Forbes Magazine estimates his net worth to be US$1.81 billion, making him the 374th richest person on the Forbes 400 as of February 2017.
So a hedge fund billionaire recently bought a position in TMPS what am I missing here?
This ticker is an absolute steal right now. Folks read the damn filings.
AQR Capital Management, LLC which serves as the investment manager to the AQR Diversified Arbitrage Fund, an open-end registered investment company took a 6% position in TMPS in February 2017.
Here is info on AQR Diversified Arbitrage Fund straigh from their website.
Investment Objective Seeks long-term absolute (positive) returns. Fund closed to new investors.
Arbitrage strategies seek to exploit mispricings in markets. They do this by looking for two related assets that are trading at different prices, then buy the cheaper one and "short" — that is, borrow and sell — the more expensive one. The difference between the prices is the expected profit of the trade. AQR's Diversified Arbitrage Fund invests in three primary arbitrage strategies:
Merger Arbitrage — consists of buying shares of the target company in a proposed merger, and hedging the exposure to the acquirer by shorting the stock of the acquiring company
Event-Driven Investments — involves various corporate actions where very similar assets begin to trade at different prices (e.g., the different share classes of a public company's stock)
Over time, we seek to balance the Fund's exposure equally among the three while maintaining the ability to make tactical tilts based on each strategy's conditional attractiveness.
AQR Diversified Arbitrage has over $490 mill in assets under their control
Eliasch Johan here is his bio:
Johan Eliasch (born February 1962), is a Swedish billionaire businessman, and the chairman and chief executive officer (CEO) of Head N.V.,[2] the global sporting goods group, and the former Special Representative of the Prime Minister of the United Kingdom.
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