Accendo Onboards a New PM (Hedge Nordic)
Stockholm (HedgeNordic) – Activist investor Accendo Capital has expanded its investment team by hiring Nicholas Bianco as a portfolio manager. Based out of Accendo’s Malta office, Bianco is joining the activist investor’s three-member investment team consisting of Henri Österlund, Mark H. Shay and Kai Tavakka. “We are delighted to welcome to the Accendo investment team Nicholas Bianco,” writes the Accendo team on LinkedIn. “Nicholas joins us with over 10 years of experience in investing across the full spectrum of the capital structure in various roles from event-driven funds to working closely with both public and private companies directly,” adds the team. “Welcome on board Nicholas Bianco.”
Vivaris Capital, LLC Partners with The Tesla Foundation to Form Tesla Climate Capital (PRNewswire)
SAN JUAN, Puerto Rico, April 13, 2022 /PRNewswire/ — Vivaris Capital, LLC, a multi-strategy fund offering hybrid hedge and private equity structures, announced today a strategic, joint-venture partnership with the Tesla Foundation to form Tesla Climate Capital. Tesla Climate Capital will commercialize leading technologies in vehicle electrification, energy storage, carbon sequestration, and power generation. It will also incubate aspiring global entrepreneurs active in the technology sector.
Bill Browder Warned Westerners Not to Take Russian Oligarch Money. They Should Have Listened. (Institutional Investor)
Former hedge-fund manager Bill Browder has spent more than a decade warning Western policymakers and financiers about Russian President Vladimir Putin. For years, Browder lobbied for legislation – known as the Magnitsky Act – that became the template for levying sanctions on Putin and his cronies even before the Russian president’s savage invasion of Ukraine.
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Long/Short Equity Hedge Fund with Bear Market Experience has a Winning Quarter (Opalesque)
Having experienced five years of bear market in Russia allowed Christian Putz to identify and profit from certain investment patterns which also work on a global basis. This hedge fund manager is now gathering profits in the current markets. London-based ARR Investment Partners‘ opportunistic long/short equity hedge fund, ARR Global L/S Equity Strategy, was up 16% (net) in March and 19.5% YTD, with a Sharpe Ratio of 0.60, and an annual return of 10.4%. It is currently up 27% YTD (as at April 13, 2022).
Hedge Fund Manager Confidence Levels Resilient Despite Global Economic Headwinds, Says AIMA (Hedge Week)
Confidence levels among hedge fund mangers remain resilient despite the war in Ukraine, Russian economic sanctions, and global inflationary concerns, according to AIMA. Hedge fund returns have been mixed, with some strategies struggling while others have racked up bumper returns, resulting in wide performance dispersion across the industry. While some fund strategies have experienced a challenging start to the year, others have thrived.
TreeHouse Foods Names Scott Ostfeld to Board in Settlement with Jana Partners (Reuters)
April 12 (Reuters) – Packaged food maker TreeHouse Foods Inc (THS.N) said on Tuesday it had appointed Scott Ostfeld, a partner of activist investor Jana Partners LLC, to its board as part of an agreement with the New York-based hedge fund. Jana Partners, which owns a 9.2% stake in TreeHouse, has been pushing for changes at the private-label food group since last year and nominated two directors to the company’s board in December.
Skye Global Closes to New Investors (Institutional Investor)
The one-time II Hedge Fund Rising Star’s tech and internet heavy fund has managed to avoid the steep losses that others have suffered in recent quarters. Jamie Sterne’s Skye Capital, one of the most successful newly launched hedge funds in recent years, has stopped accepting additional outside capital, according to two investors.The firm was managing about $6 billion at year-end, according to a regulatory filing.
This Hedge Fund Manager Says Index-Tracking Investors Are Tracking The Wrong Index (Forbes)
It’s no secret that passive investing using index-tracking funds has taken the world of investing by storm, taking a bite out of active managers’ AUMs. Perhaps the most common index to track is the S&P 500, but one hedge fund manager believes the roughly $3 trillion invested in S&P funds is in the wrong place. However, he’s not advising these investors to switch to active management. Instead, he suggests that investors set on tracking an index should target the NASDAQ indices instead.
Hedge Funds Up 1.48% in March Despite Geopolitical and Inflationary Pressure (Cayman Compass)
Against the backdrop of Russia invasion of Ukraine and rising inflation, hedge funds overall gained 1.48% last month, according to data provider Eurekahedge. About 61% of funds in the Eurekahedge Hedge Fund Index posted positive returns and 24.2% of managers outperformed the S&P 500, which rose by 3.58% over the same period. Returns were mixed across geographic mandates. Latin America-focused funds led with a return of 3.87%, while the Asia ex-Japan mandate trailed behind their peers with a negative return of -2.83%.
Hedge Fund, Tech Billionaires Dominate High Pay: ProPublica (1) (Bloomberg Tax)
Bill Gates made $2.85 billion annually on average from 2013 to 2018, $800 million more than any other U.S. citizen, according to an analysis by ProPublica. Technology and hedge fund executives dominate the list of highest earners, with the 11 people averaging more than $1 billion a year all coming from the two industries. Ken Griffin had an average income of $1.68 billion, while David Siegel and John Overdeck of Two Sigma Investments tied for seventh with $1.17 billion a piece. Laurene Powell Jobs, the widow of Apple Inc. co-founder Steve Jobs, made $1.57 billion on average.
Wednesday 4/13 Insider Buying Report: CCCC, ALZN (Nasdaq.com)
At C4 Therapeutics, a filing with the SEC revealed that on Tuesday, CEO Andrew Hirsch bought 10,000 shares of CCCC, for a cost of $8.40 each, for a total investment of $84,000. Hirsch was up about 14.6% on the purchase at the high point of today’s trading session, with CCCC trading as high as $9.63 at last check today. C4 Therapeutics is trading up about 7.7% on the day Wednesday. This buy marks the first one filed by Hirsch in the past twelve months. And at Alzamend Neuro, there was insider buying on Monday, by Milton C. Ault III who purchased 50,000 shares for a cost of $1.13 each, for a total investment of $56,325. Before this latest buy, Ault III purchased ALZN at 21 other times during the past twelve months, for a total cost of $11.86M at an average of $4.77 per share. Alzamend Neuro is trading up about 16.7% on the day Wednesday.
Ex-OppenheimerFunds Quant Gets 33 Months For Insider Trading (FA-Mag.com)
A former OppenheimerFunds quantitative analyst was ordered to spend almost three years in federal prison for insider trading that made him $8.5 million. Sergei Polevikov, 48, was sentenced to 33 months by U.S. District Judge Lewis J. Liman in Manhattan on Tuesday and ordered to pay a $10 million fine. Polevikov pleaded guilty in December to securities fraud, admitting that he used confidential information to front-run trades made by his firm’s clients from 2014 to at least 2019. He forfeited $8.56 million as part of his plea deal.
Again Flutterwave CEO, Olugbenga Agboola Accused of Fraud, Perjury, Insider Trading (TheStreetJournal.org)
Barely weeks after being accused of bullying, intimidation and sabotaging the work opportunities of one of his ex staff, a fresh accusation has been levelled against Olugbenga Agboola, the CEO and co-founder of one of Nigeria’s largest tech unicorns, Flutterwave. An investigative report has accused him of insider trading, fraud, and perjury” occurring over a four year period.
