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Former Treasury Secretary Steven Mnuchin is planning an investment fund backed by Persian Gulf wealth funds, report says

Former Treasury Secretary Steven Mnuchin is planning to launch an investment fund that will be backed by sovereign wealth funds in the Persian Gulf region and other investors, the Washington Post reported on Tuesday.

Citing two people familiar with the matter, the Washington Post said the fund will invest in areas including financial technology and entertainment, among other potential sectors...

Stakes in Falcone’s Hamptons, New York Homes Head to Auction

Melody Business Finance LLC is auctioning interests in Philip Falcone’s Hamptons estate and Manhattan townhouse, according to a marketing document reviewed by Bloomberg News, a year after suing the former billionaire for defaulting on loans and violating lending agreements.

The Melody entity, an affiliate of Melody Capital, is undertaking a so-called uniform commercial code foreclosure and on April 13 will publicly auction interests in Falcone’s properties at 142 Crestview Drive, Sagaponack, and 22 East 67th St. in New York. Melody is working with a Newmark team that includes Dustin Stolly, Jordan Roeschlaub, Daniel Fromm and Brock Cannon on the collateral auction...

From Star Performer to Star Witness: A Cum-Ex Trader Cooperates

For an employee who raked in millions each year, one of Duet Group’s top traders maintained fairly irregular desk hours.

Some days he wouldn’t set foot at all inside the office on the fourth floor of Al Fattan Tower in Dubai’s financial center, according to former colleagues who asked not to be identified discussing corporate life. But for a few weeks each spring, when European companies dole out dividends, the trader -- whom Bloomberg is choosing to call A. for legal reasons -- would log long days at his desk and generate huge profits for his firm...

As Wall Street Migrates to Florida, Hedge-Funders Move to Offload Manhattan Homes

Three Manhattan listings—a downtown penthouse asking $39.5 million, a sprawling co-op seeking $40 million and a pair of Upper West Side condos on the market for $25 million—share one thing in common. Their sellers are among the top brass at Elliott Management, a hedge fund that announced last year it is moving its headquarters from New York City to Florida.

Real-estate veterans and hedge-fund executives believe a seismic shift is under way, one that is moving vast amounts of Wall Street wealth from New York to South Florida. For the past several years, Wall Street has been colonizing the Sunshine State, attracted to more favorable tax policies and sunnier climes. And the momentum is only accelerating amid the pandemic...

Quibi Says Elliott Management Might Have Supported Patent Lawsuit Because of Personal Motive

Defunct streaming service Quibi is trying to force executives at Elliott Management to explain whether the hedge fund’s involvement in financing a patent lawsuit against the company was motivated by a relationship between Elliott’s founder and a colleague.

In a brief filed Thursday in Los Angeles federal court, Quibi said Elliott’s founder and co-Chief Executive Officer Paul Singer, 76 years old, is in a romantic relationship with an Elliott colleague, age 70, whose son is employed by Eko, the interactive-video company claiming trade-secret theft...