Seth Klarman

Summary List Placement

Seth Klarman’s Baupost Group is betting that billionaire investor Bill Ackman and “Moneyball” star Billy Beane can make shrewd acquisitions in the coming months.
The billionaire’s hedge fund disclosed in a regulatory filing that it held a $400 million stake in Ackman’s special-purpose acquisition vehicle or “SPAC,” Pershing Square Tontine, at the end of September.
Baupost also revealed a $52 million position in Redball Acquisition Corp., another SPAC that is co-chaired by Beane and reportedly held talks to buy the Boston Red Sox in October.
Klarman has been touted as “the next Warren Buffett” because he also follows a value-investing approach.

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A billionaire investor heralded as “the next Warren Buffett” handed cash to hedge-fund manager Bill Ackman and “Moneyball” star Billy Beane last quarter, backing the pair to strike lucrative deals in the coming months.

Seth Klarman’s Baupost Group revealed in a regulatory filing that as of September 30, it held a roughly $400 million stake in Ackman’s Pershing Square Tontine, a special-purpose acquisition vehicle or “SPAC” that went public in July.

Ackman raised a record $4 billion from the listing to target “mature unicorns”, or buy a minority stake in a company …read more

Source:: Businessinsider – Finance


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