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Elliott Management letter, new capital commitment


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CNBC has posted a copy of a short letter Elliott Management sent out to investors announcing their 7th capital commitment - they got commitments for $5 Billion in new capital in 24 hrs according to CNBC.  The letter is somewhat interesting - they are expecting a volatility spike at some point and would like to have the capital commitment in place to act on short-lived opportunities:

 

http://www.cnbc.com/2017/05/05/paul-singers-elliott-management-raises-5-billion-in-24-hours-letter.html

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Yerba in the same breath they say they have found enough to put their last facility to work... singer is legend don't get me wrong but I just don't put much into the "expecting a large event" as a) they want to give a reason to raise capital and b) doesn't look like they are bidding cash but instead seem to be fully invested (hence why raising more)

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  • 2 weeks later...

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