Tiger Global’s July Gain Leaves Fund Down 49.8% This Year (Bloomberg)
Tiger Global Management’s hedge fund gained just 0.4% in July, narrowing its loss this year to 49.8%, according to people familiar with the returns. The fund trailed broader markets, with the S&P 500 advancing 9.1% and the tech-heavy Nasdaq Composite Index surging 12%.
Bitcoin (BTC) Price Won’t Drop Below $17K Says Hedge Fund CEO Anthony Scaramucc (CryptoNewsBTC)
Hedge Fund CEO Anthony Scaramucci has mentioned that Bitcoin is buying and selling a lot under its precise honest worth proper now, and emphasised that Bitcoin may need hit its backside already. In a latest interview with MarketWatch, the senior hedge fund supervisor mentioned that, in line with his firm’s standards, BTC is currently undervalued and has an precise worth of near $40,000. Bitcoin is presently promoting at roughly $23,000, which, in Scaramucci’s opinion, is considerably under its true value by as a lot as 70%.
Hedge Fund Manager Gundlach Says Yield Curve Inversion is Worsening – “Rough Road Ahead” (Forex Live)
Gundlach, hedge fund DoubleLine Founder, on the Twitter: The 2-year 10-year yield curve inversion is gaining steam. At 36 basis points right now. Rough road ahead. The inversion is used as a sign of an approaching recession. Recent data from the US showed two consecutive quarters of negative GDP, which is a commonly accepted definition of a recession. The US does not, officially, use the ‘two consecutive quarters of GDP shrinkage’ definition though. The US has its own recession dating committee, the National Bureau of Economic Research (NBER). They look across a number of economic indicators, including employment and industrial production, not just GDP.
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Ex-PwC Crypto Head Launches $75m Hedge Fund for Institutional Investors (Financial News)
PwC’s former global crypto head has launched a $75m crypto hedge fund focused on institutional investors. Henri Arslanian launched Nine Blocks Capital Management in Dubai with the aim of becoming the “world’s leading institutional grade cryptoasset management firm”, according to a statement from the fund announcing its launch.
Top Fundraising Challenges for Private Debt Fund Managers and How to Overcome Them (Preqin)
Private debt’s attractive risk-adjusted returns are increasing its popularity among investors. Despite this, raising capital is still no easy feat for fund managers operating in this space. Below, we look at the top challenges managers face when raising capital from investors, and provide key solutions to overcome them. Appetite for larger funds is growing: Private debt remains dominated by larger funds, with the 20 largest accounting for nearly 60% of the total private debt capital raised in 2021. This trend is being encouraged as large investors look for similarly large fund managers that can deploy large sums.
Balbec Capital Raises Over $1.5bn for the Fifth Global Credit Fund (Opalesque)
Global alternative asset manager Balbec Capital Management has secured over $1.5 billion in commitments for its fifth and largest flagship fund, which it will deploy to buy up residential, commercial, and consumer whole loan portfolios across the performance spectrum. InSolve Global Credit Fund V also comes with a $100 million expandable co-investment vehicle, said a media note from the investment management services. The Fund received significant support from a diverse base of existing Balbec clients and new investors globally.
Twitter Subpoenas Ken Griffin Amid Hunt for Musk’s Deal Backers (Bloomberg)
Ken Griffin, the billionaire founder of hedge fund Citadel, was added to a sweeping list of those Twitter Inc. has subpoenaed in its effort to force Elon Musk to complete his $44 billion purchase of the social media company. The subpoena notice for Griffin, whose involvement — if any — in Musk’s proposed takeover of the company is unclear, was filed Wednesday as part of a slew of document requests from both sides of the deal. Twitter has sought information from more than a dozen investment firms that committed equity to Musk’s purchase as well as the banks that had advised Musk and pledged billions in financing.
Palm Beach Hedge Fund Association partners with Grassi Advisors & Accountants (Hedge Week)
The Palm Beach Hedge Fund Association (PBHFA) has partnered with Grassi Advisors & Accountants (Grassi), a provider of tax, audit and accounting services for the financial services industry and high-net-worth individuals. As a strategic partner, Grassi will be a resource to PBHFA members on compliance, risk management, operational efficiencies and technology selection, as well as individual tax planning, estate, trust and gifting strategies. The firm’s financial services professionals in Florida and New York specialise in providing business advisory and compliance services, including fund administration, tax and audit services, financial reporting, outsourced CFO, technology consulting and bookkeeping.
Equitas Capital Advisors Wins Hedgeweek Americas Award (BizNewOrleans.com)
NEW ORLEANS (press release) – New Orleans-based Equitas Capital Advisors was awarded the Hedgeweek Best Multi-Strategy, Multi-Manager Fund Award for its Equitas Evergreen Fund in October, 2021. The winners of the Hedgeweek Americas Awards represent the prior year’s best in the American hedge fund industry. The annual awards are presented by Hedgeweek in conjunction with Bloomberg. Equitas Evergreen Fund was launched in July 2003 and manages alternative investments representing seven investment strategies across a combination of 18 funds managed by 12 mangers. Not only did the Evergreen Fund attain the Hedgeweek award, the fund ranks in the top 10 of the Bloomberg Database for the last one, three, five and 10-year periods worldwide in the category of Multi-Strategy Hedge of Hedge Funds.
Macro U-Turn To Make Ethereum ‘Run Tremendously Hard,’ Says Crypto Hedge Fund CEO (The Daily Hodl)
The chief investment officer of Ikigai Asset Management is highlighting one key event that’s necessary to potentially spark a rally in cryptocurrencies. In an interview with the Bankless podcast, Ikigai co-founder Travis Kling says that beyond the US Federal Reserve’s policies which risk sending the economy into recession, it’s the ongoing conflict between Russia and Ukraine that ultimately needs to be resolved in order for the macroeconomic picture to stabilize.
Thursday 8/4 Insider Buying Report: PRG, AINV (Nasdaq.com)
On Tuesday, PROG Holdings’ CEO, Steven A. Michaels, made a $283,590 purchase of PRG, buying 15,000 shares at a cost of $18.91 each. Michaels was up about 8.0% on the purchase at the high point of today’s trading session, with PRG trading as high as $20.41 at last check today. PROG Holdings is trading up about 3% on the day Thursday. This purchase marks the first one filed by Michaels in the past twelve months. And on Wednesday, Chief Executive Officer Howard Widra purchased $260,130 worth of Apollo Investment, purchasing 20,000 shares at a cost of $13.01 each. This purchase marks the first one filed by Widra in the past year. Apollo Investment is trading up about 0.8% on the day Thursday.
$1.5 Million Bet On Global Water Resources? 4 Stocks Insiders Are Buying (Benzinga)
Global Water Resources: The Trade: Global Water Resources, Inc. (GWRS) Director Andrew Cohn acquired a total of 111,000 shares at an average price of $13.50. To acquire these shares, it cost around $1.5 million. W. R. Berkley: The Trade: W. R. Berkley Corporation (WRB) Director Mark E. Brockbank bought a total of 6,000 shares at an average price of $61.96. To acquire these shares, it cost around $371.78 thousand.
Coinbase Exec at Heart of Insider Trading Scandal Pleads Not Guilty in Federal Court (Coin Telegraph)
Former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday, Reuters reported. Wahi has been accused by United States law enforcement and the Securities and Exchange Commission (SEC) of insider trading while at Coinbase. He was arrested in May as he attempted to board a flight to India and was charged in July.
