Ex-Man Group Money Manager Seeks $500 Million for Own Hedge Fund
Yves Blechner, a former portfolio manager at Man Group Plc, is preparing to start his own credit hedge fund to bet on high-yield markets.
He has set up 44 Hill Capital Management in London and is targeting to raise $500 million by November for launch, according to an investor document, a copy of which was seen by Bloomberg News. He has a number of soft commitments to start the fund, Blechner wrote to potential clients.
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New York Times
34 minutes ago
- New York Times
Inside Thomas Frank's Tottenham Hotspur appointment
Thomas Frank is probably the greatest manager in Brentford's history. He spent nearly seven years in charge of the west London side and guided them from the Championship into the Premier League. Despite having one of the lowest wage bills in the division, they recorded two top-half finishes in four seasons under him. Supporters will never forget the memorable victories over Manchester City, Arsenal and Chelsea, while Frank helped Ivan Toney, David Raya and Bryan Mbeumo to become superstars. It is conceivable there will one day be a statue of him outside their stadium but he is walking away from Brentford, and 'leaving a big piece of (his) heart' behind, for a daunting new challenge. Advertisement On Thursday evening, Frank was announced as Tottenham Hotspur's new head coach on a three-year contract. The 51-year-old is the successor to Ange Postecoglou, who became the first Spurs manager to lift a trophy since 2008 when they won the Europa League final last month. Chairman Daniel Levy sacked Postecoglou 16 days after that famous victory over Manchester United in Bilbao, in large part because Spurs' Premier League performances under the Australian were woeful in 2024-25, losing 22 times and finishing 17th. Tottenham's fanbase are torn over the decision to sack Postecoglou and some members of the first-team squad are deeply upset. There is upheaval in the boardroom, with the arrival of new chief executive officer Vinai Venkatesham, along with the departures of chief football officer Scott Munn and long-serving executive Donna-Maria Cullen. Fabio Paratici — the former managing director of football — is lurking in the background. His 30-month ban from football activity for alleged financial malpractice during his time with Juventus expires on June 30. The conditions of Paratici's ban mean he has been able to act as a consultant for Spurs over the past two and a half years and he has been spotted at home games. It will be a tricky situation to navigate but Frank has patiently waited for his opportunity at a bigger club. This is the inside story of why he decided to join Spurs. Frank has never been shy about his long-term ambitions and there were multiple occasions where he nearly left Brentford. In October 2021, a few months into Brentford's first season in the Premier League, he was interviewed by Aston Villa after they sacked Dean Smith. If he had been successful, it would have been the second time in his career that he had replaced Smith. Frank spent just under two years as Smith's assistant at Brentford and was promoted when he joined Villa. Advertisement Johan Lange was Villa's sporting director at the time and he conducted the interviews with then-chief executive officer Christian Purslow. Lange left Villa in October 2023 to become Tottenham's sporting director. Frank and Lange have known each other for nearly two decades — they worked together at Danish top-flight side Lyngby in 2006 — and will be reunited in north London. Lange and Purslow were impressed by Steven Gerrard's presentation and interview so decided to appoint the former Liverpool captain as Smith's replacement. In January 2022, Frank and his then-assistant Brian Riemer signed new long-term contracts with an improved salary at Brentford. At the beginning of the 2022-23 campaign, Leicester City were interested in Frank but they decided to stick with Brendan Rodgers. When Graham Potter took over at Chelsea that September, Frank publicly praised the decision because it would have 'been easy' for them to appoint Mauricio Pochettino or Zinedine Zidane. There are lots of similarities between Frank and Potter. Neither of them had playing careers at the highest level and they coached in Europe before punching above their weight with Brentford and Brighton & Hove Albion respectively. Frank's comments made it feel as if he was becoming restless in west London and talking up his own credentials as much as Potter's. When Villa sacked Gerrard a month later, they considered Frank again but hired former Arsenal, Aston Villa and Paris Saint-Germain manager Unai Emery. In December 2022, with all of the interest swirling around Frank, Brentford rewarded him with a pay rise and a new contract until 2027. Potter lasted less than seven months at Chelsea before he was sacked and Frank's tone changed. He suddenly sounded wary of leaving Brentford. 'It was difficult for (Potter) to turn down and of course he believed in himself,' Frank said. 'He was aware he was going into a big club and it could potentially be difficult but I don't think he predicted the amount of injuries they had or the amount of players they bought. Advertisement 'You never know what's going to happen in the future. I'm very privileged to be working at Brentford. We need to constantly remind ourselves of what we have, even on a day when it's grey or we are losing or a day where I wake up with big ambitions, because it's not always better on the other side.' Frank's stock was at its highest by the end of that campaign as Brentford finished ninth and narrowly missed out on qualifying for the Europa League. They recorded memorable victories over Manchester United, Liverpool and his future employers Spurs. Antonio Conte was sacked by Tottenham in March but Frank was overlooked and they hired Postecoglou instead. In the 2023-24 season, Brentford struggled with injuries and Toney's eight-month suspension for betting offences, finishing 16th. Yet it did not damage Frank's reputation and he spoke with senior figures at Manchester United around the FA Cup final when they were considering sacking Erik ten Hag. Then he reached the final two for the vacancy at Chelsea but was overlooked for Enzo Maresca. In an interview with The Athletic in May 2024, he said he had 'close to the perfect football life at Brentford'. 'I can see myself being here for a long period,' Frank added. 'Can I stay here for seven more years? I don't know and that's not that I don't love Brentford, it's just: do I want to try something different? But I'm very aware the grass is not greener in the garden next door even if it looks like it. Then you get in there, take a closer look and see there are a lot of weeds in the grass.' Just over a year later and Frank has been convinced to sacrifice his near 'perfect football life'. There are lots of issues to solve at Spurs but he has not been deterred by the challenge. The Athletic reported in March that Postecoglou's long-term future was in serious doubt and that Frank, Fulham's Marco Silva and Bournemouth head coach Andoni Iraola were identified by Spurs as potential replacements. Iraola was their top target but he decided to stay at Bournemouth. There was a mixed reaction at Brentford. Some senior figures were not too concerned because they had become used to the constant interest in Frank. Others were worried as they thought Spurs would be the perfect fit. He would be reunited with Lange, inherit a young squad with vast potential and would not have to relocate from his family home in west London. Multiple club sources during conversations with The Athletic wondered if potential new investment — owner Matthew Benham has been open to selling a minority stake for the past few years — would tempt him into staying. Equipped with better resources, Brentford could then consistently challenge in the top half of the table. Advertisement Towards the end of the season, it became clear Spurs had made Frank their top choice and that he wanted the role. Frank's pre-existing relationship with Lange helped and Levy has been a big fan for some time. Lange was heavily involved but Levy drove the pursuit. Conversations were held about the finances it would take to prise Frank and his staff out of Brentford before the season had finished. Brentford never attempted to persuade him to stay. They accepted his ambition and are well aware their business model is all about developing and selling talent. They did not stand in Smith's way when he joined Villa and have recovered from losing star players including Ollie Watkins, Toney and Christian Eriksen. Brentford told Frank's representatives they did not want to be contacted by any interested club until after the season ended so they could focus on finishing as high as possible. Brentford were warned to expect a phone call in the evening after their final game on May 25 but it never came. Spurs winning the Europa League threatened to change everything. Nobody knew what was happening with Postecoglou. The Australian went on holiday to Greece while Levy took time off too. Brentford acted as if Frank was staying and he was even involved in the signing of Caoimhin Kelleher from Liverpool as their new first-choice goalkeeper. He then spent a couple of weeks in Denmark, with a short trip to Munich in between to watch Paris Saint-Germain's victory over Inter Milan in the Champions League final with his family. In a strange quirk, Frank's first competitive match with Spurs will be the UEFA Super Cup against PSG on August 13 in Italy. On June 6, just over two weeks after winning the Europa League, Spurs announced they had sacked Postecoglou. They sent an email to club staff shortly before the public announcement but lots of people, including first-team players, found out through social media. Spurs did not make direct contact with Brentford until June 9. Levy and Brentford's director of football Phil Giles spent the next few days discussing the specifics of the deal. Compensation was one element of that — Brentford sources say the fee reached was around £10million ($13.6m), while Tottenham sources say that figure is closer to £5m. Advertisement The other key component of the conversation centred around which members of Frank's backroom staff would follow him. Part of the reason why negotiations dragged on is because Brentford were reluctant to lose Justin Cochrane. The former England youth-team coach has spent the past three years as Frank's assistant and was viewed as his potential replacement. Cochrane considered his options and decided to return to Spurs, where he spent nearly a decade as a coach in their academy. Head of athletic performance Chris Haslam, who worked at Brentford for over a decade across two spells and is one of Frank's most trusted allies, has joined Spurs too, along with analyst Joe Newton. Brentford were reluctant to lose that many staff members and wanted to make sure they were properly compensated. Steven Pressley left his role as head of individual player development at the beginning of June to become Dundee's head coach, which means Brentford have a lot of vacancies to fill this summer. Ideally, they do not want to hire a new head coach with a large entourage. Frank would like to persuade Mbeumo to follow him too, but the forward favours a move to Manchester United. Another reason why it took a few days to resolve Frank's future is because Brentford had already started the process of replacing him. They have identified six potential candidates and will narrow that number down before conducting formal interviews. They are long-standing admirers of Ipswich Town's Kieran McKenna, while then-Reims head coach Will Still visited their training ground at the beginning of 2024 when he was studying for his coaching badges. Still spent the 2024-25 campaign in charge of Lens and joined Southampton last month. Riemer, Frank's assistant in west London between 2018 and 2022, is not expected to be considered for the role. The 46-year-old has been in charge of Denmark for under a year and the World Cup takes place next summer. Scott Parker, who beat Brentford in the 2020 Championship play-off final while in charge of rivals Fulham, is not thought to be in contention either. Once the negotiations around Frank's backroom staff were completed, Spurs officially announced his appointment on June 12. They described him as 'one of the most progressive and innovative head coaches' within football who 'consistently and significantly' outperformed expectations with Brentford. Frank was the second-longest-serving manager in the Premier League behind Pep Guardiola at Manchester City. He forged genuine friendships at Brentford with Benham, Giles, technical director Lee Dykes, chief executive officer Jon Varney and chairman Cliff Crown. This is a bittersweet moment for Brentford, who are grateful for what Frank has achieved but sad to see him leave. Advertisement Some members of the first-team squad are known to be happy for Frank as they believe he has been overlooked for other opportunities in the past. With two top-half finishes in four seasons, they think he has taken Brentford as far as he can unless they start spending more money on wages and transfers. One dressing-room source, who wished to remain anonymous to protect relationships, said: 'This is what Brentford do. We bring people in, help them do well and then sell.' Frank has not contacted the squad since the season finished but the time will come when he can give them a proper goodbye. Taking charge of Spurs is the biggest challenge of Frank's career. He has never managed in a European competition before and has to contend with the expanded version of the Champions League next season. There will be more games to manage, more scrutiny and more pressure. He overachieved across seven special years at Brentford and now he will try to repeat the trick with Spurs. (Top photos: Mike Hewitt,; design: Demetrius Robinson)
Yahoo
42 minutes ago
- Yahoo
Funding boost for community buildings across York and North Yorkshire
A funding boost has been announced to support community buildings across York and North Yorkshire. The 2025/26 Community Building Programme will see £1.35 million spent on such spaces as village halls and cricket grounds, according to a spokesperson for York and North Yorkshire Combined Authority. The scheme is being delivered in partnership with North Yorkshire Council and City of York Council and is funded through the Rural England Prosperity Fund (REPF) and the UK Shared Prosperity Fund (UKSPF). David Skaith, Mayor of York and North Yorkshire, said: "I want to make it easier for people to look after each other in their own communities, wherever they are in the region. "This is particularly key in our rural areas. "They are vast and beautiful, but often the people who live there feel more isolated than those who live in towns and cities. "I have visited community buildings from Hawes to Whitby, and so many places in between. "It might be a village hall, or a cricket ground, but it's the passion of the people who make these into more than places - into anchors for local life. "That is why community buildings are essential to be able to create healthy, thriving, and connected communities right across the region." Following on from previous UKSPF funding rounds that supported 43 village halls and community buildings, Mayor Skaith has committed £600,000 from his Mayoral Investment Fund to help more than 20 hubs. Councillor Heather Phillips, North Yorkshire Council's executive member for stronger communities, said: "We are looking forward to working with our partners on the delivery of this programme. "These buildings are incredibly important to local communities, particularly in rural areas where it may be the only meeting place for that village. "They bring the community together, often by providing services and activities for all age groups." Councillor Pete Kilbane, deputy leader of City of York Council, said: "Community venues like village halls are so much more than just buildings. "They are places where people get to know each other, make new friends, host family celebrations, play sports, and access key services that enable people of all ages to lead happier, healthier lives. "In short, they are the places where community is built." David Burton, chair of Great Ouseburn Village Hall Management Committee, said: "I know how difficult it can be to help run a village hall, but I would encourage anyone in my position to keep an eye out for grants from the Combined Authority and apply where possible. "This grant process has been extremely straightforward, and the changes made possible with this money have already made a huge impact on our community." Funding applications will be open till August 4, and applications can be made at
Yahoo
an hour ago
- Yahoo
Billionaire Sunjay Kapur — Karisma Kapoor's ex-husband — dies after ‘swallowing a bee' at polo tournament in UK
LONDON, June 14 — Sunjay Kapur, a prominent Indian businessman and former husband of Bollywood actress Karisma Kapoor, has died after suffering a heart attack during a polo match at Smith's Lawn in Windsor. He was 53. Kapur, who owned the Aureus Polo team and served as Chairman and Non-Executive Director of the automotive giant Sona Comstar, collapsed on the field on Thursday while playing for the Sujan Indian Tigers in the Cartier Trophy Semi-Finals. The Guards Polo Club confirmed his death in a statement yesterday, saying he became 'unwell when playing in a match at Smith's Lawn.' The club expressed 'deepest condolences to his wife, Priya Sachdev, his children, the wider Kapur family and his Aureus team-mates.' While initial reports cited a heart attack, The Mirror reported that Kapur's cardiac arrest was triggered by an allergic reaction after a bee stung him in the mouth during the game. He reportedly told those around him, 'I've swallowed something,' before collapsing. Anaphylactic shock, described by the Mayo Clinic as a severe and potentially life-threatening allergic reaction, can cause sudden drops in blood pressure and restrict breathing. Kapur is believed to have gone into shock shortly before his heart stopped. Sona Comstar, which Kapur inherited from his father Dr Surinder Kapur in 2015, also confirmed the news, calling him 'a visionary leader' who transformed the company 'into a global mobility technology company built on innovation, sustainability, and purpose.' 'For all of us who had the privilege of working with him, his passion, foresight, and relentless commitment to excellence will always remain a guiding light,' the company said. Kapur had a personal fortune estimated by Forbes at US$1.2 billion (RM5.1 billion). Kapur was previously married to Bollywood actress Karisma Kapoor, with whom he had two children, Samaira and Kiaan. He later married model Priya Sachdev, with whom he had a son, Azarias. Just hours before his death, Kapur had posted a message on X (formerly Twitter) responding to a fatal plane crash in Ahmedabad: 'Terrible news of the tragic Air India crash in Ahmedabad. My thoughts and prayers are with all the families affected. May they find strength in this difficult hour.'
