MANAGING A HEDGE FUND? SIMPLE, IT’S LIKE DRIVING THE SCHOOL BUS September 26, 2010 YOU’VE got to hand it to Glenview Capital hedge fund manager Larry Robbins – The Capitalist has rarely heard such a creative defence of a period of negative returns. Robbins, in his latest newsletter to clients following a four per cent decline in his portfolio over the second quarter, touched on the equity markets and [...]
INSURERS STRAP IN FOR BLUNT’S MILE-HIGH RECORD-BREAKING GIG June 30, 2010 EVER wanted to watch James Blunt sing his heart out – live – at 42,000 feet? No, neither have we, but let’s not diminish Royal Sun Alliance’s (RSA) achievement in breaking the Guinness World Record for the world’s highest altitude live music show. The insurance group has kicked off its 300th anniversary celebrations with gusto [...]
DIC remains committed to EU June 24, 2010 Dubai International Capital (DIC) yesterday rejected claims it could attempt to sell off its European assets, after the sovereign wealth fund promised to retain its five majority-owned companies in the region for at least another two years. DIC, which is heavily indebted, told senior managers of its portfolio companies that it had already spent $300m [...]
Dubai private equity board is dissolved June 13, 2010 PRIVATE equity group Dubai International Capital (DIC) has confirmed its board was dissolved six months ago, allowing parent company Dubai Holdings to take over its debts of around $2.6m (£1.7bn). The group released a statement yesterday following the news of non-executive chairman and founder Sameer Al Ansari’s resignation. “DIC confirms that its board was dissolved [...]
London is key to Travelodge’s rapid growth ambitions April 29, 2010 TRAVELODGE’S London hotels helped the firm reap an eight per cent rise in revenue for the first quarter of this year. Hotels in the capital saw a surge in revenue of 16 per cent, compared to just four per cent across the rest of the country. The firm says it is now on track to [...]
Dubai forced to invest in UK firms April 25, 2010 The Dubai sovereign wealth fund controlled by Sheikh Mohammed Bin Rashid al-Maktoum has been forced to pump millions into troubled UK ventures. Dubai International Capital (DIC) invested heavily in UK private equity but has been stung after banks requested cash injections for firms including Travelodge and Alliance Medical, which are struggling under the weight of [...]
Travelodge boosts its sales April 11, 2010 Budget hotel chain Travelodge is this week set to report a three per cent sales growth for last year, up to £297m. The chain’s pre-tax losses are likely to reach £80m due to interest payments on loans and other accounting charges.
Travelodge hotel will go ahead March 29, 2010 Travelodge yesterday announced it has secured planning permission for a 111-bed hotel in the heart of Twickenham, on London Road. The new-build hotel will involve a £7.5m investment in the town, and create 30 new jobs in the area. The development will start construction this summer and is expected to complete in Autumn 2011. Travelodge [...]
FELIX DENNIS OFFERS UP A LESSON IN THE WAYS TO GET RICH QUICK March 9, 2010 WHOOMPH. On The Capitalist’s desk lands a blood-red copy of the latest money-getting guide from eccentric publishing magnate Felix Dennis, “88: The Narrow Road”. Many readers will be familiar with the book’s predecessor, “How to Get Rich”, which flew off the shelves after its release a couple of years ago. Dennis – who, as co-editor [...]
Travelodge to construct a new hotel in heart of the City February 22, 2010 Travelodge will open three new hotels, including a development in the heart of the City, in time for the 2012 Olympic Games. A 77-bed hotel in a vacant office building off Cannon Street will cost £7.5m to develop. It hopes to attract business travellers as well as tourists visiting St Paul’s and Monument. The firm [...]