Hedge Funds’ Biggest Names — from Cohen to Dalio to Griffin — are Embracing Crypto. Here’s Where the Most Influential Managers Stand. (Business Insider)
Hedge funds like multi-strategy giants Millennium and Point72 are getting into crypto. The space, which was once dismissed by top managers, has become more accepted. There are still major holdouts, including Ken Griffin‘s Citadel. The hedge-fund world didn’t come running to cryptocurrencies. While some smaller funds embraced bitcoin and other digital currencies early on, the biggest names in the industry needed to warm up to the idea of investing in a completely new asset class.
Hedge-Fund Manager Greg Coffey is the Buyer of a $105 Million Hamptons Estate (The Wall Street Journal)
Australian hedge-fund manager Greg Coffey was the buyer behind a $105 million deal for the oceanfront Fordune estate in the Hamptons late last year, according to people familiar with the situation. The sale of the Southampton compound, built for auto mogul Henry Ford II around 1960, was one of the largest recorded transactions in Hamptons history, though the closing price was significantly shy of the property’s original asking price of $175 million. The estate was first listed for sale in 2017. The seller was Brenda Earl, a former partner at the private-equity firm Zweig-Dimenna.
Danske HFs Near Full Capacity (Hedge Nordic)
Stockholm (HedgeNordic) – Two Danske Bank fixed-income hedge funds are nearing maximum capacity and will thereby close to new money in late March. Danske Invest Hedge Fixed Income Relative Value Fund and Danske Invest Hedge Fixed Income Strategies Fund will close to new subscriptions or conversions in, except for their W classes that are solely available to a select group of clients in the context of a discretionary management agreement.
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Hedge Fund Billionaire Anthony Scaramucci Predicts Bitcoin Rally As Inflation and War Tensions Cool Down (The Daily Hodl)
SkyBridge Capital founder Anthony Scaramucci says that macroeconomic factors will become more accommodating to Bitcoin, allowing BTC to rally to six figures in the coming months. In an interview with MarketWatch, Scaramucci says that historic inflation rates in the US will become “way better” within a year. The hedge fund veteran also says that the current geopolitical tensions between Russia and Ukraine will have a limited impact on the global economy in the longer term, citing the flurry of sanctions against Russia from the West.
A $900 Million Hedge Fund Splits From Omni Partners to Go Solo (Bloomberg)
John Melsom, who managed money for Omni Partners for about 15 years, is striking out on his own to run an independent investment firm. The money manager has bought out Omni’s financial interest in the $900 million fund, which focuses on mergers and acquisitions opportunities, and is moving it plus his investment team to his London-based firm, Kryger Capital. The switch over is happening today.
A Top Brazilian Hedge Fund is Betting on Gold After Russian Sanctions (Mining.com)
One of Brazil’s largest hedge fund managers is betting on rising prices for precious metals after the U.S. and other allies imposed financial sanctions on Russia in response to its invasion of Ukraine, including the freezing of certain central bank assets. SPX Capital, which manages about 64 billion reais ($12.7 billion), built a long position in precious metals, especially gold, during the past few weeks, Ylan Adler, a partner and head of commodities at the firm, said in an interview.
Hedge Fund Industry Grows Assets to R86.93 Billion in an Environment of Fund Consolidation and Regulatory Constraints (FA News)
The South African hedge fund industry ended 2021 with assets under management of R86.93 billion. This represents a healthy growth in assets of R13.66 billion over the 12-month period. The annual hedge fund statistics released today by the Association for Savings and Investment South Africa (ASISA) show that the nearly 19% growth in assets was achieved in spite of further consolidation and closure of funds, which reduced the number of hedge funds from 233 at the end of 2020 to 216 at the end of 2021.
SS&C GlobeOp Hedge Fund Performance Index and Capital Movement Index (PR Newswire)
WINDSOR, Conn., March 14, 2022 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that the gross return of the SS&C GlobeOp Hedge Fund Performance Index February 2022 measured -0.99%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.41% in March. “SS&C GlobeOp’s Capital Movement Index rose 0.41% in March 2022, indicating positive net flows into hedge funds. The result was slightly lower than the year-ago reading of 0.61% but was still closely in line with the favorable trend of recent years,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “The March 2022 reading of 0.41% for the Capital Movement Index should be viewed as a strong result, particularly with concerns over Federal Reserve policy and international tensions dominating the past month’s market news.”
6 Questions for Joe DiPasquale of BitBull Capital (Coin Telegraph)
Joe DiPasquale is CEO of BitBull Capital, which has managed crypto hedge funds since 2017. Joe founded BitBull because he believes in active management in crypto investments. He has been an investor for 10 different crypto hedge funds, in addition to having run his own active strategies since 2013. Previously, Joe worked in investment management, investment banking, technology and strategy consulting at Deutsche Bank, Bain and McKinsey. He received his BA from Harvard University and MBA from Stanford University. BitBull also runs BitBull Research, which regularly publishes its “Crypto Investing Newsletter,” available with a free subscription on BitBull’s website, as well as its “Opportunistic Deals Memo,” available only to investors.
Monday 3/14 Insider Buying Report: SGMS, BLI (Nasdaq.com)
At Scientific Games, a filing with the SEC revealed that on Thursday, Hamish McLennan bought 18,000 shares of SGMS, for a cost of $58.63 each, for a total investment of $1.06M. Scientific Games is trading down about 1.5% on the day Monday. Before this latest buy, McLennan made one other purchase in the past twelve months, buying $728,712 shares for a cost of $55.00 a piece. And also on Thursday, Director Jessica Hopfield bought $502,400 worth of Berkeley Lights, buying 80,000 shares at a cost of $6.28 each. Berkeley Lights is trading up about 9.9% on the day Monday. Bargain hunters are able to bag BLI even cheaper than Hopfield did, with the stock trading as low as $5.41 in trading on Monday — that’s 13.9% under Hopfield’s purchase price.
Insider Trading: March 14, 2022 (BIV.com)
Insider Anna Maria Tudela, director. Company: Gunpoint Exploration Ltd. (TSX-V:GUN). Shares owned: 30,000. Trade date: February 28. Trade total: $1,140,000. Trade: Acquisition of 1,530,000 shares at prices from $0.50 to $0.75 per share. Insider Ann Margaret Fandozzi, director. Company: Ritchie Bros Auctioneers Inc.(TSX:RBA). Shares owned: 12,053. Trade date: February 28. Trade total: US$499,510. Trade: Acquisition of 9,560 shares at a price of US$52.25 per share.
