{"id":5396,"date":"2006-12-11T00:00:00","date_gmt":"2006-12-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-buys-stake-in-a1-grand-prix","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2006\/hedge-fund-buys-stake-in-a1-grand-prix.html","title":{"rendered":"Hedge Fund buys stake in A1 Grand Prix"},"content":{"rendered":"

HedgeCo.Net (New York) – RAB Capital has bought a stake in the A1 Grand Prix. The RAB Special Situations hedge fund, run by Philip Richards, has taken an 80% stake worth \u00c3\u201a\u00c2\u00a3100m. The fund has beenknown in the past for taking large positions in natural-resources firms.<\/p>\n\n\n\n
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According to The Times Online, as part of the deal, A1\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s management will be restructured, Tony Teixeira will move up to chairman while Peter da Silva, a Brazilian-born motor-racing fanaticwho has spent 20 years at Siemens, has been appointed chief executive. Ben Hill of RAB will also join the board.<\/p>\n

Philip Richards said A1, which was launched two years ago and pits nation against nation rather than team against team as in Formula One, represents an opportunity to make a lot of money in China. \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cOur focus has always been on western-owned and western-run companies that sell successfully to Asia.<\/p>\n

“A1 fits with this. Motor racing is one of the fastest-growing sports in Asia, it is watched by both the elite and the masses. It is also the only single event that spans the region and so offers a unique advertising opportunity for global brands.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d Richards said.<\/p>\n

\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cWe\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2ve made a fortune selling natural resources, copper, zinc, coal and so on, to the Chinese. This is the same: we\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2re selling motor racing to Asians, and with it the only event available for global brands to advertise across the continent in the context of a western company.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n

Alex Akesson
Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net<\/a> <\/p>\n

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HedgeCo.Net (New York) – RAB Capital has bought a stake in the A1 Grand Prix. The RAB Special Situations hedge fund, run by Philip Richards, has taken an 80% stake worth \u00c3\u201a\u00c2\u00a3100m. The fund has beenknown in the past for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5396","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5396"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5396\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}