ValueAct Looks to Seven & I Board Vote After ‘Vague’ Response (Bloomberg)
Activist fund ValueAct Capital Management LP said it’s looking forward to the opportunity to vote for new directors of Seven & i Holdings Co. after what it called a disappointing response from the retailer Thursday. The operator of 7-Eleven stores didn’t answer any of the fund’s questions in a clear and specific way, and its communications continue to be “vague and confusing,” ValueAct wrote in an e-mailed statement Friday. The company’s “consistent refusal” to address investor dissatisfaction about its conglomerate structure “doesn’t inspire confidence in the company’s governance and leadership,” it added.
Largest Hedge Fund Bridgewater: Here Are The Reasons Recessions Will Be Longer And Deeper In America (Moguldom)
Karen Karniol-Tambour, the co-chief investment officer of Bridgewater Associates, warned investors that upcoming recessions may play out more painfully than in the past, may be more difficult to handle and “longer” than we’re used to as the Federal Reserve struggles to intervene. Bridgewater has almost $130 billion in assets under management. In February, Karniol-Tambour, 37, became the first woman to hold the most senior investing job at the world’s largest hedge fund. She was promoted to co-CIO less than four months after billionaire founder Ray Dalio stepped down as co-CIO and gave up control of the hedge fund.
Debra Messing’s Brother Blamed for Anthony Scaramucci’s Hedge Fund Failure (Cryptosaurus.tech)
“Will & Grace” star Debra Messing’s brother convinced Anthony Scaramucci to make a disastrous investment in cryptocurrency – costing his hedge fund hundreds of millions of dollars, according to a report. Brett Messing, who attended Harvard Law School with “The Mooch”, became chairman and partner of his hedge fund Skybridge Capital, which at its height had approximately $9 billion in assets under management.
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Pantera Capital Raises US$ 22.5 Million for M^ZERO Labs (SWFInstitute.org)
A German decentralized infrastructure project known as M^ZERO Labs has raised US$ 22.5 million. Pantera Capital led the round, with Road Capital, AirTree, Standard Crypto, The SALT Fund, ParaFi Capital, Distributed Capital, Kraynos Capital, Mouro Capital, and Earlybird taking part. The funds will go toward hiring and building the infrastructure.
Jim Chanos’ Short-Only Fund, Ursus, Came Out on Top in 2022 (Institutional Investor)
Legendary short seller Jim Chanos is making a comeback. After enduring what he called “one giant short squeeze” during the long-running bull market, Chanos got a break last year when the stock market finally cracked. Chanos’ short-only fund, Ursus, gained 18 percent in 2022, compared with a negative 12 percent return in 2021, according to an individual familiar with the results. In terms of absolute numbers, it was the best gain for the short-only fund in many years — leaving it with more than $100 million in assets under management at the end of 2022, according to the ADV Chanos recently filed with the Securities and Exchange Commission. Ursus held around $60 million at the end of 2021.
