Are you in the Chatham Asset Management Fund??

[Penelope]

The Daily Beast on Tuesday called it a “Saudi propaganda magazine.” It’s being placed in supermarkets by AMI chief executive David Pecker, an admirer of President Trump.

A possible explanation: Pecker pushed his finances to the limits last year in the deals to acquire Us Weekly and Men’s Journal from Wenner Media and is trying to entice the Saudi royal to invest. One media observer said Pecker was chagrined when the Saudi sovereign wealth fund recently invested $200 million in Jay Penske’s Penske Media.

Snip

The mag is ad-free with a $13.99 cover price and nearly 100 pages. It carries no cover notation that it is produced by the same company that owns the National Enquirer.

https://nypost.com/2018/03/27/special-interest-mag-praising-saudi-prince-raises-eyebrows/

• 08.30.18

State pension funds invested millions in hedge fund that controls “National Enquirer” parent

Pension cash was pumped into a high-risk hedge fund that took control of the tabloid’s parent company, records show.

During the last five years, taxpayers in New Jersey, Ohio and California have owned large financial stakes in the owner of the media company that allegedly helped the Trump campaign bury negative stories, according to documents reviewed by Capital & Main and MapLight.

Under Republican governors, the two states committed at least $625 million of pension cash into Chatham Asset Management, a high-risk hedge fund that has taken control of the National Enquirer‘s parent company, American Media Inc., which is at the center of the federal investigation into President Donald Trump’s 2016 campaign. California’s pension fund also has a $235 million stake in a Chatham fund.

The hedge fund is run by Anthony Melchiorre, a GOP donor who reportedly met with the president and AMI CEO David Pecker at the White House soon after Trump took office. Melchiorre and his wife have donated more than $100,000 to Republican candidates and party committees since 2010.

State pension funds invested millions in hedge fund that controls “National Enquirer” parent

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I wouldn't want to be.

 

[Penelope]

In 2013, former New Jersey Gov. Chris Christie’s administration moved $300 million of pension cash into the Chatham Fund, LP, which has owned a stake in AMI, according to SEC records. Last year, barely three months before Christie left office, his administration steered another $200 million to another Chatham vehicle. AMI gave $10,000 to a super PAC supporting Christie’s 2016 presidential bid, and Mother Jones reported that Christie placed Pecker on his campaign leadership team.

In 2013 and 2014, an Ohio pension system partially controlled by Gov. John Kasich’s appointees committed $125 million to Chatham. The hedge fund finalized its deal to buy an ownership stake in AMI in the summer of 2014.

The Christie administration’s shift of $500 million into Chatham makes New Jersey retirees a substantial investor in the hedge fund, which manages $3.2 billion in assets, according to state records. Those records show the original $500 million investments are now worth as much as $692 million.

Best known for its lurid Enquirer headlines (“Aliens Are Living in My Toilet“), AMI has been beset by a difficult environment for print publications. Chatham has warned that its investments are risky and that a client “may lose its entire investment in a troubled company.” In early 2018, private equity giant Blackstone removed Chatham from one of its major investment funds.

State pension funds invested millions in hedge fund that controls “National Enquirer” parent

 

[SassyIrishLass]

They turned 500 mil into 692 mil they're doing something right.