Hedge Fund News Wrap: Week Ending 1/31/14
Glade Brook Capital Says ‘Open Sesame,’ Betting $250 Million on Alibaba
Glade Brook Capital is making some big bets on the prices of China e-commerce company Alibaba Group, buying $250 million in a private stock transaction.
The investment reportedly puts the value of the company at around $140 billion. Managers at Glade Brook expect the price of the firm to go to $200 billion when it goes public, according to an unnamed source cited by CNBC. Alibaba’s IPO is expected to take place in the next few months, according to analysts.
Glade Broom capital was founded in 2011 by Shumway Capital Partners manager Paul Hudson.
To be sure, Yahoo shares fell on Tuesday, after reporting a slowdown at Alibaba Group. Yahoo owns a 24 percent stake in Alibaba, and this asset is estimated to comprise about half of Yahoo’s total market value.
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