Caledonia plays the market’s money machine with $200m pokies spin

About two months ago, Sydney-based hedge fund Caledonia gathered its wealthy clients to pitch what it believed was the most compelling trade it had identified in years.

The fund, which manages about $US6.5 billion ($10 billion) on behalf of wealthy clients, owns just shy of 10 per cent of the dual-listed pokies machine manufacturer Light & Wonder.

Loading…