Volume 10 | May 2020
The Luxury Missive Of The Palm Beach Hedge Fund Association
News & Views For The Affluent Lifestyle

The Billionaire Hedge Fund List: Who Is Up, Who Is Down?

By Amy Whyte

The biggest hedge fund manager in the world is still Bridgewater Associates.

With $136 billion under management as of January 1, Ray Dalio’s hedge fund firm came in at the top of Absolute Return’s  Billion Dollar Club , an annual ranking of asset managers with at least $1 billion in hedge fund assets. Bridgewater’s total came in slightly below the $137.3 billion Absolute Return recorded for Dalio’s firm last year, but was still far above any other hedge fund manager.

This year,  Renaissance Technologies  ranked as the second-largest hedge fund firm, with $75 billion in assets at the start of 2020 — a 23 percent increase from $61 billion 12 months prior.

The quantitative firm took the No. 2 spot from AQR Capital Management, which experienced a 33 percent decline in hedge fund assets over the 2019 calendar year. According to Absolute Return, AQR had $50 billion in hedge fund assets on January 1, down from $74.8 billion a year before. AQR declined to comment.

Paul Tudor Jones’s Tudor investment Corp. had hedge fund assets of $9.19 billion as of January 1, up from $7.2 billion a year prior, while Soroban Capital Partners’ hedge fund assets grew 41 percent to $7.9 billion, according to Absolute Return. 

In addition, Tiger Global Management’s hedge fund assets increased by about 43 percent to just over $12 billion as of January 1.......

Read the rest at Institutional Investor
Welcome To Palm Beach Pursuits!

Palm Beach Pursuits is the monthly luxury publication of the Palm Beach Hedge Fund Association .

We are committed to bringing the finest in global and local luxury to our affluent membership base of ultra high net worth investors, family offices, hedge fund managers, and alternative asset professionals.

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We work with a wide variety of luxury brands & financial companies who wish to become thought leaders to our affluent members & mailing list.

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Social Pursuits
What An Amazing Evening Aboard Superyacht ALEGRIA!

In these days of social distancing and quarantines, it's uplifting to remember PBHFA's previous deal making socials and look forward to being able to host these amazing events again soon!

Our first luxury based Soirée of the season was a home run!! 

Hosted onboard the fabulous superyacht Alegria, guests mingled in the superlative ambiance while drinking the world’s finest tequila, noshing on gourmet bites, and trying on extremely rare timepieces boasting prices north of $650,000.00.

Along with the experiential luxury atmosphere, members and guests talked markets, economics, business and deals all while reuniting with old friends and making new ones.

We would like to extend a heartfelt thanks to our partners who helped make this all possible:

SuperYacht One, Bloor Street Capital, Denison Superyachts, Greubel Forsey, Clase Azul Tequila, Whispering Angel Wine

Art Pursuits

How Art Movements Tried to Make Sense of the World in the Wake of the 1918 Flu Pandemic

O n Feb. 7, 1918, the artist Egon Schiele, then 27, once again looked to his mentor, Gustav Klimt, to be his muse. But this time, Schiele had to visit the morgue of Allgemeines Krankenhaus, the Vienna General Hospital, to make his drawings of the renowned painter.

The day before, Klimt had died of a stroke that many historians believe was a result of the flu. Schiele’s visit resulted in three haunting drawings of a deceased Klimt’s head, showing his face deformed from the stroke.

That same year, Schiele began working on a painting,  The Family,  which was meant to be a portrait of himself, his wife and their future child. But before he could finish the piece, his wife, who was six months pregnant, died of the flu. Three days later, Schiele’s life was also taken by the flu.....

Read the rest at Time Magazine
Yachting Pursuits
Superyacht Influencer Interview: Managing Director Of Yachting For Amels And Damen Explains How The Coronavirus Crisis Is Affecting The Superyacht Industry

From Forbes

Bill Springer Senior Contributor
Bill Springer is the Editor in Chief of Ocean Home magazine where he covers ultra-exclusive real estate, superyachts, and luxury travel.

Rose Damen is not only the Managing Director Of Yachting for  Amels  and  Damen  in Holland

She’s also a  kind and compassionate mom  who understands that building superyachts is way more than just another job, and owning a superyacht is way more than just a financial decision. 

In fact, that’s why I’ve been eager to share her insights on the current world crisis in the ongoing series of “Influencer Interviews” that I’ve recently conducted with the world’s top superyacht builders, brokers and expedition travel companies.

As you can see in her thoughtful answers here, global travel may be on hold for now, but superyacht construction continues (safely!) and there are plenty of reasons to be optimistic about the future too.....

PBHFA Pursuits
Announcing The Launch Of Our Custom Webinar Series!!

We are thrilled to announce our custom webinar series. During this time of "social distancing" and postponed events, live webinars are the ideal way to reach our exclusive membership base.

The webinars are professionally produced and moderated creating a powerful marketing tool both in the live environment and in replay mode.

Customized for you, the webinar can be in seminar, panel, or demonstration format making it perfect for your needs.

A partnership with Bloomberg, Yahoo Finance & IPO Edge provides you with dramatic more reach and an evergreen source of leads.

Available as part of our annual partnership or as a stand alone product, the webinars are proving to be essential in today's changing world.

Let me know if you have interest in seeing what has already been produced for the leading firms listed below and I'll send you a copy.

We look forward to working with you soon!

Click the image below for more information
Investment Pursuits

The Global Pandemic Has Been A Boon To Gaming
When the #stayathome hashtag emerged on social media last month in response to governments successively announcing coronavirus containment measures, Min-Liang Tan was ready.

The  Singaporean  entrepreneur had already commissioned a run of isolation-inspired posters printed with the words “stay home and game on” weeks before the virus had reached global pandemic levels.

The international lockdown was hardly ideal for the self-made billionaire, whose 16 offices and five retail stores span many of the countries earliest and worst hit by the out break,including...... 

Limited time offer: $6 for 3 months.

Real Estate Pursuits

John Lennon's Palm Beach Home Is For Sale

By Alexandra Clough

A Palm Beach mansion once owned by John Lennon has hit the market for sale at $47.5 million.

The figure is more than twice the price of the last sale just four years ago,  when John and Cindy Sites paid $23 million  for the 720 S. Ocean Blvd. estate.

John Sites is a former Bear Stearns executive and a partner at Wexford Capital LP, which has offices in Greenwich, Connecticut, and downtown West Palm Beach.

The ocean-facing property, known as El Solano, once was owned by the late former Beatle and his wife, Yoko Ono......

Read the rest in The Palm Beach Post
Guilty Pursuits

Phillip Green: An Outrageous, Real Life Billionaire

In 2012, Philip Green threw a birthday party that  Vogue  magazine declared extravagant, even by the fashion world’s larger-than-life standards.

The British-born billionaire and Topshop founder flew 150 of his closest friends, including celebrities Leonardo DiCaprio, Kate Moss, Naomi Campbell, Gwyneth Paltrow, and Simon Cowell, to a mystery location—a beach resort in Mexico—for a four-day joint celebration for himself and his daughter Chloe. 

According to  reports , there were armed guards patrolling the party on jet skis; a three-story nightclub installed exclusively for the event; a six-figure firework display; a four-tier cake; and performances by Rihanna, Stevie Wonder, Bruno Mars, Robbie Williams, Cee Lo Green, and George Michael.

 Guests were reportedly outfitted in clothing custom-made to their exact measurements for different themed events—including ruffled shirts for a flamenco party, and Hawaiian shirts for a beach barbecue serenaded by the actual Beach Boys.

Read The Rest In Vanity Fair Here

Automobile Pursuits

Ferrari Demand Far Outstrips Supply Despite Pandemic

Shares of Italian luxury sports car maker, Ferrari, whose famous cars cost between $200,000 and $300,000, have proved remarkably resilient during the coronavirus downturn, as the company looks well-positioned to weather the wider slowdown in auto manufacturing.

Since the market hit a coronavirus crisis-level low point on March 23, Ferrari stock has made a comeback, rising over 21% since then. The stock, which currently trades at $157 per share, is up 13% in the last week alone, outpacing the benchmark index.

Lifestyle Pursuits
How These 3 Female Designers Hatched a Room of Their Own

For Crystal Ellis, Hillary Petrie and Stephanie Beamer, it began in a basement wood shop. At the time, crafting furniture was a thing of both passion and utility, as the trio pieced together dressers and credenzas for their new apartments.

But what began as a postgraduate pipe dream grew (or rather, hatched) into a fully realized design studio:  Egg Collective . And the collective has since outgrown its basement digs, relocating to a fresh flagship showroom in Tribeca.

“We’ve come really far in terms of equal rights, but by no means are we able to sit on our haunches and be like, ‘oh yeah, we’ve reached the promised land,'” adds Ellis. “Maybe it’s not the biggest thing ever—we’re not politicians; we don’t have the megaphone that they have. But we have our own little microphone. And that’s something.”

Read the rest on Robb Report
Welcome Our Luxury Timepiece Sponsor
Watches & Jewelry Pursuits

Basel World Cancelled For 2021

 From Robb Report

When the king leaves, the rest will follow. After a group of significant brands left the  Baselworld  watch trade show in Switzerland (lead by  Rolex  in conjunction with  Patek Philippe , the two most influential watch brands in the world), the organizers have announced they are canceling the event for 2021. That is big news for the world’s biggest timepiece tradeshow—

Baselworld has been running for over a century, and this is the first time its organizers have ever called it off.

The 2020 show, originally intended for April 30 to May 5, was “postponed” due to Covid-19, with a replacement show scheduled for January 8 to February 2, 2021. But many industry insiders began to speculate that Baselworld might already be in more serious trouble.

A number of frustrated watch brands, including Grand Seiko, Breitling and the entire Swatch Group, had already left the show in pursuit of hosting their own big reveals outside of the old trade show format.....

Read the rest in the Robb Report


Aviation Pursuits

The Booming, Cloistered,
& Rarefied World of Private
Jet Pandemic Travel

Turks & Caicos. Aspen. Jackson Hole. Don’t cancel spring break or put your loved ones at risk — just fly private. 

Executives at Magellan Jets saw the coronavirus outbreak hit Europe at least a month ago, and started planning new spring break destinations to promote, said co-founder and president Anthony Tivnan. 

“The islands are also extremely popular right now: Puerto Rico, the Turks and Caicos, Barbados. Island travel is extremely active, and we’re counting on it to replace some of the European travel we typically do in the summer months,” he told  Institutional Investor  in an interview Friday — by phone, naturally. 

Read the rest in Institutional Investor

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