hedge fund

Perini Navi Building Megayacht to Top Maltese Falcon

Last summer we reported that hedge fund queen Elena Ambrosiadou had purchased the 289-ft. Maltese Falcon, the world's largest, best designed, and most expensive sailing superyacht, for around $100 million. She might want her money back – Perini Navi, the Italian shipyard that built the incredible yacht, is now hard at work on a new one that will dwarf the Maltese by 46 feet. The 335-ft. megayacht, dubbed the C.2157 (above), also has three enormous self-standing, rotating masts and will be equipped with an even more impressive version of Perini Navi's revolutionary carbon fibrer DynaRig sailing system. Topping the Maltese's 15 sails and 25,791 sq. ft. sail area, the 335 will be capable of a maximum speed of 19.5 knots despite its impressive size.

Look for the 2,700 ton yacht with a steel hull and aluminum superstructure to equal if not better the Maltese Falcon's 10-day Atlantic crossing time as well. Perini Navi has not disclosed which of the world's billionaires commissioned the craft, which is expect to cost several hundred million dollars, but it will no doubt have opulent fittings and finishes galore throughout its five decks, including two contoured sets of stairs wrapping around the buttress of the aft mast descending towards the aft of the main deck. There will also be accommodations for more than the Maltese's 12 guests in the luxurious staterooms in addition to an enormous master suite.

[via JamesList]

Gallery: Perini Navi 355-ft. Sailing Superyacht

Tags: carbon fibrer, Elena Ambrosiadou, hedge fund, Italy, megayacht, Perini Navi, sailing, sailing superyacht, sailing yacht, superyacht

Bankers Buying in London: Luxury Home Prices on the Rise

by Tom Johansmeyer (RSS feed) —

Filed under: Real Estate Developments

After 17 months of misery, luxury home prices in London are finally up on an annual basis. Banking and hedge fund industry professionals are spending money again, largely because they're being paid again. Homes with values of above $1.6 million appreciated 1.6 percent in November compared to the same month last year. This was the first annual increase since June 2008. Nonetheless, prices remain 15 percent lower than the March 2008 peak. From October to November, prices grew 1.2 percent.

Liam Baily, head of residential research at Knight Frank, told Bloomberg News, "Anecdotal evidence from across our offices suggests that City money is becoming more apparent as we get closer to the end-of-year bonus season," continuing, "Demand from senior management is driving the market." Bonuses could wind up growing by 50 percent this year to 6 billion pounds in London's largest financial districts, and professionals in this industry are responsible for half the city's demand for luxury homes.

For homes at prices of more than $16 million, the price increases are even better: 1.9 percent from October to November this year. Residences in Chelsea, Kensington and Knightsbridge got the biggest boosts.

This has led to a bit of optimism. Luxury real estate could reach May 2008 levels by 2012, up to two years earlier than expected.

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Tags: bank, banker, bankers, banking, banking sector, BankingSector, Chelsea, hedge fund, Hedge Fund Managers, Hedge funds, HedgeFund, HedgeFundManagers, HedgeFunds, kensington, knightsbridge, london, London England, LondonEngland, luxury real estate, LuxuryRealEstate, real estate, RealEstate, united kingdom, UnitedKingdom

Female UK Hedge Funder Revealed as Buyer of Maltese Falcon

by Jared Paul Stern (RSS feed) —

Filed under: Yachts & Sailing, Wealth

The mystery buyer of the 289-ft. Maltese Falcon, the world's largest, best designed, and most expensive sailing superyacht, has been revealed as Elena Ambrosiadou, Greek-born founder of hedge fund Ikos Partners. The UK's highest-paid woman and its wealthiest female entrepreneur, Ambrosiadou, pictured above after winning the Perini Navi Cup with her new toy (and collecting the Rolex prize), is said to have paid $120 million for the megayacht. Built by Perini Navi for venture capitalist Tom Perkins in 2006, it remains the ne plus ultra of sailing superyachts, a masterpiece of technology and design, and was recently featured on the cover of Luxury Toys: Top of the World. Her revolutionary sailing system - the DynaRig - set a new milestone in yachting history: three self-standing and rotating masts hosting 15 sails for a total sail area of 25,791 square feet for unrivaled, performance maneuverability and record-shattering speed; she can complete Atlantic crossings in ten days.

[via JamesList]

Gallery: The Maltese Falcon

Tags: Elena Ambrosiadou, ElenaAmbrosiadou, hedge fund, HedgeFund, Maltese Falcon, MalteseFalcon, megayacht, Perini Navi, PeriniNavi, sailing, superyacht, Tom Perkins, TomPerkins, UK, yacht

Hedge Fund Mogul Adds Helicopter To The For Sale List

by Deidre Woollard (RSS feed) —

Filed under: Wings

Last week was a good news, bad news situation for imperiled hedge funds mogul John Devaney. As I mentioned last month, Devaney, the chief executive of United Capital, had put his 142-foot Trinity yacht "Positive Carry" on the market for $23.5 million as well as his Aspen home, the historic Sardy House, for $16.5 million. Good news first, Devaney has unloaded the Sardy House to as the Apsen Times reports "a Florida concern with ties to the hospitality industry."

The bad news is that Devaney's fire sale isn't over yet. The NY Post reports that Devaney is also his selling his helicopter. The Sikorsky S76C helicopter is listed at $10.995 million in a brochure that states that the reason for the sale is "changing corporate travel requirements." The helicopter seats six in a luxurious leather-padded cabin.

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Tags: hedge fund, helicopter, john devaney, sikosky, united capital, UnitedCapital

Michael Jackson Refinances by Selling Songs

by Nicole Weston (RSS feed) —

Michael Jackson, struggling to pay off the approximately $300 million that he owes to the New York hedge fund, Fortress Investment Group, has announced that he has reached a deal with the group. Though the exact details were not released, a part of the deal has Jackson selling half of his shares in the Sony/ATV music library - 25% of the total collection - to Sony. After the sale, Sony will own 75% of the library. Jackson's portion, which he purchased in 1985, is currently valued at half a billion dollars and includes the rights to 251 Beatles songs as well as music by Bob Dylan, Joni Mitchell and Stevie Nicks.

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Tags: beatles, bob dylan, catalogue, debt, hedge fund, jacko, jackson, michael jackson, music, pets, sony, sony/atv