Hedge Fund Manager Crispin Odey Just Lost ~$4.8 Million Investing In His Ex-Wife's Rival

Odey MurdochOdey and Murdoch

Photo: AP

When Rupert Murdoch withdrew his company’s bid for BSkyB, it stung a bunch of hedge funds invested in the company, including Murdoch’s daughter’s ex-husband’s.The Guardian lists a number of funds invested in BSkyB (BSY):

  • Perry Capital: a 1.1% stake
  • Taconic Capital Advisors
  • Davidson Kempner European Partners LLP 
  • Odey Asset Management: 2.4%
Odey today

And here’s a fun detail about Odey’s investment in BSkyB.Crispin Odey, the fund’s founder, married Rupert Murdoch’s eldest daughter Prudence (“Prue”) when she was 26-years old. They divorced a year later and now she’s married to Alasdair MacLeod, a ranking News Corp executive. 

BSkyB is 39.1% owned by News Corp. Both shares are down since the phone hacking scandal began and Murdoch’s company withdrew its bid for BSkyB.

Odey sold some of his 2.4% holding last week, but the Guardian says the fund’s paper loss “is estimated to exceed £3 million (~$4.8 million).”

In retrospect obviously, $5 million is nothing and Odey brushed it off. He told the Guardian that the fall in share price is “nothing. It was 550p a year ago.”

Capital Research & Management, BlackRock and Fidelity are the BSkyB’s biggest shareholders. 

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