Oops. So much for selling the family business. President
Donald Trump decided not to hire Anthony Scaramucci as his
director for the Office of Public Liaison after all. Instead,
Trump tapped George Sifakis, founder of information management
firm Ideagen PFC, for the job, according to Bloomberg.
Scaramucci, who was a fundraiser and spokesman for the
president during his campaign, headed hedge fund of funds firm
SkyBridge Capital; created the SALT conference, which
brings hedge fund managers and other industry titans to a
four-day conference in Las Vegas; and revived the iconic Wall
Street Week television show. He earlier this year agreed to
sell his 45 percent ownership position in the hedge fund
business to a subsidiary of China-based HNA Group and RON
Transatlantic, a little-known firm, to clear the way for the
White House job.
However, Bloomberg had earlier reported his hiring was held
off due to a delay in the Office of Government
Ethics’ review of Scaramucci’s
financial disclosures. Last week Scaramucci drew fire when he
implied in a tweet that the rash of threats and vandalism
targeting Jewish sites could be the work of Democratic
The folks at Mantle Ridge are receiving a rude response to
their first activist victory. Shares of CSX Corporation fell
2.7 percent, to $48.44, even though the railroad giant
announced a settlement deal with the hedge fund. Under the
pact, well-respected railroad veteran E. Hunter Harrison was
named chief executive officer of the company. In addition, CSX
appointed five new directors to its board.
Mantle Ridge was founded by Paul Hilal, a senior partner at
Pershing Square Capital Management. CSX stock is up 31
percent since January 18, the day Mantle Ridge reportedly told
CSX it had recently become a CSX shareholder, owning less than
5 percent of the stock. The shares spiked that day. However,
that development was not disclosed to the public until February
14, when the company issued a press release.
D.E. Shaw disclosed it owns passive stakes of 5 percent in
two different companies.
The New York multistrategy firm said it owns 3.4 million
shares, or 5 percent, of Myriad Genetics, a molecular
diagnostic company. Separately, it disclosed it owns 3.7
million shares, or 5 percent, of drug company BioCryst
Highbridge Capital Management disclosed a roughly 8-million
share stake in Parker Drilling, or 5.54 percent of the total
outstanding of the contract drilling company. The multistrategy
firm did not own any shares of Parker at year-end.
Valeant Pharmaceuticals International continued its free
fall. Shares of the controversial drug company fell another 5.8
percent, to $11.69. They are now down 24 percent this year.