Alan Howard Owns 5.8% of German Crypto Asset Management Firm Iconic Holding (Coin Desk)
Alan Howard, the co-founder of macro hedge fund Brevan Howard, has invested in German crypto asset manager Iconic Holding, according to the shareholder list of the German Handelsregister. While declining to provide specifics, a spokesman for Howard said the billionaire investor considers the size of the investment to be “negligible.” While it is unknown what Howard considers “negligible,” how much the stake is currently worth or when he first invested in Iconic, the well-known financier owned around 5.8% of the company as of May, the filing says.
Rothschild-Backed RIT Co-Leads Funding for Crypto Platform Aspen Digital (Reuters)
LONDON (Reuters) – RIT Capital Partners, the investment trust founded by Jacob Rothschild, is co-leading a funding round for crypto investment platform Aspen Digital intended to finance the creation of an online platform that would give wealthy investors a single portal to manage crypto investments. RIT will lead the $8.8 million fundraising round for Hong Kong-based Aspen Digital, along with Liberty City Ventures, an early venture investor in the blockchain industry, Aspen said in a statement on Wednesday.
Hedge Fund Alphadyne Loses $1.5 Billion in Short Squeeze (Bloomberg)
Hedge fund Alphadyne Asset Management is one of the biggest casualties from a short squeeze in the global bond market, with its $12 billion macro trading strategy snared in a series of bad bets on rising interest rates. The investment firm is staring down losses of about $1.5 billion after its hedge funds plunged through July, according to people familiar with the matter. Its flagship Alphadyne International Fund lost about 10%. It also manages a leveraged version with about the same amount of assets.
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Bitcoin vs. Gold: Here’s What Billionaire Ray Dalio Thinks (CNBC)
For Ray Dalio, bitcoin is like a digital version of gold — but the billionaire clearly values one higher than the other. “If you put a gun to my head, and you said, ‘I can only have one,’” says Dalio. “I would choose gold.” Dalio, who turns 72 on Sunday, revealed in May that he owns an undisclosed amount of bitcoin, after previously raising concerns about cryptocurrencies for years. Still, he isn’t completely sold on the concept.
Employees at Bill Hwang’s Archegos Face Losing About $500 Million in Bonuses After the Fund’s Implosion, Report Says (Business Insider)
Employees of Archegos Capital Management stand to lose a total of as much as half-a-billion dollars after the investment fund’s collapse shrank the value of their deferred bonuses, the Financial Times reported on Wednesday. Archegos, the family office of Bill Hwang, imploded in March when some of the former Tiger Capital Management portfolio manager’s highly leveraged bets started to come apart and his lenders sold some of his investments.
Brummer’s Multi-Strategy Hedge Fund Flagship Flat for July as Equity Managers Stumble (Hedge Week)
Stockholm-based Brummer & Partners’ flagship multi-strategy hedge fund vehicle remains flat for the year after ending July close to zero, with its equities-focused strategies suffering negative performance last month. Brummer Multi-Strategy (BMS) fell 0.1 per cent in July in both its SEK and dollar-denominated classes, with the twice-levered BMS 2xL version down 0.3 per cent in both classes. Overall, the BMS vehicle remains flat year-to-date at 0.2 per cent, with the twice-levered strategy returning 0.0 per cent in the seven month-period since the start of January, having ended the first half of 2021 in broadly similar territory, the Swedish fund manager said in an update this week.
Tiger Global Almost Breaks Even in July Despite China Stock Rout (Bloomberg)
Tiger Global Management’s hedge fund slid less than 1% in July even as its bets on Chinese companies soured amid the nation’s regulatory overhaul. The 0.8% loss last month pared its gain for the year to 4.4%, according to people familiar with Chase Coleman’s $65 billion firm. The fund rose 6.3% in June.
Health Care Specialist Launches New PE Fund (Institutional Investor)
Cormorant Asset Management is the latest to raise a new fund targeting private life sciences and biopharma companies. A little-known life sciences and biopharma hedge fund specialist is launching its fourth private equity fund. Cormorant Asset Management disclosed in a regulatory filing it has raised nearly $253 million from 34 investors for Cormorant Private Healthcare Fund IV.It is targeting a total of $400 million, according to the filing.
Wednesday 8/4 Insider Buying Report: IMRX, OMGA (Nasdaq.com)
At Immuneering, a filing with the SEC revealed that on Tuesday, Director Peter Feinberg bought 291,667 shares of IMRX, at a cost of $15.00 each, for a total investment of $4.38M. Feinberg was up about 46.6% on the buy at the high point of today’s trading session, with IMRX trading as high as $21.99 at last check today. Immuneering is trading up about 10.3% on the day Wednesday. This buy marks the first one filed by Feinberg in the past year. And at Omega Therapeutics, there was insider buying on Tuesday, by Director David A. Berry who purchased 53,082 shares for a cost of $17.00 each, for a trade totaling $902,394. Omega Therapeutics is trading up about 0.7% on the day Wednesday. Bargain hunters can buy OMGA at a price even lower than Berry did, with the stock trading as low as $16.45 at last check today which is 3.2% below Berry’s purchase price.
The EVP & CFO of Wingstop (NASDAQ: WING) is Selling Shares (Analyst Ratings)
Yesterday, the EVP & CFO of Wingstop (WING), Michael Skipworth, sold shares of WING for $2.56M. Following Michael Skipworth’s last WING Sell transaction on May 04, 2021, the stock climbed by 12.9%. In addition to Michael Skipworth, 3 other WING executives reported Sell trades in the last month. Based on Wingstop’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $74 million and quarterly net profit of $11.31 million.
