Matt Levine, Columnist

Could Sculptor Be Better, or Cheaper?

Also US Steel M&A and buyback taxation.

August 23, 2023 at 2:08 PM EDT

Corrected

August 23, 2023 at 4:42 PM EDT

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off for the rest of the week, back on Monday.

There is something odd about a publicly traded hedge fund management firm. The typical hedge fund management firm is private, owned mostly by its founder (who is also the chief investment officer and chief executive officer), and the rough cultural expectation is that people who run big hedge funds collect most of the fees from those funds and get very rich. In a publicly traded hedge fund management firm, the CEO/CIO does not own most of the company; outside shareholders do.1

Before it’s here, it’s on the Bloomberg Terminal

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