US Hedge Fund Makes Move on House Builder Countryside (ConstructionEnquirer.com)
San Francisco based Inclusive Capital Partners (In-Cap) has launched a takeover bid for Countryside Partnerships which is being firmly rebuffed by the house builder. In-Cap went public with its move today after making a confidential approach earlier this month to Countryside. It said: “On 26 May 2022, In-Cap was notified by Countryside that the Company would not engage with In-Cap or provide access to due diligence materials. This represents the second attempt made by In-Cap to engage with the Board of Countryside over the last two months.
Anthony Scaramucci Says Institutions “Ready to Pounce” on Spot Bitcoin ETF (The Block)
As Anthony Scaramucci explained during his last appearance on The Scoop, his firm SkyBridge Capital began investing in bitcoin near the end of 2020. Just under two years later, Scaramucci is positioned near the center of the burgeoning crypto industry, largely due to his role as Chair of finance conference business SALT, which partnered with FTX to host the first annual Crypto Bahamas conference in April of this year.
Parvus Activist Funds Builds Shareholding in Flutter Entertainment (SBCNews.co.uk)
Flutter Entertainment Plc has disclosed that London activist fund Parvus Asset Management has built a 7.1% shareholding in the FTSE100 betting group. The activist’s shareholding was brought to the public’s attention, as Flutter informed investors that Parvus had reached its ‘7% threshold on voting rights’ that required disclosure to markets. Parvus’ 7.1% shareholding has been built by ‘way of equity and option swaps’, as the activist fund has avoided traditional share buys to accumulate its holdings in Flutter.
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Billionaire Chase Coleman Pays $56 Million for Two Point Dume Homes (Dirt.com)
Last summer, Charles Payson “Chase” Coleman III was jogging a victory lap of life. Bloomberg had just crowned the Tiger Global Management chief, 46, as the world’s top-earning hedge fund manager of 2020, with a princely take-home haul of $3 billion. That big win seemed to fulfill Coleman’s lifelong destiny; the blue-blooded New Yorker is a direct descendant of Peter Stuyvesant, the last Dutch governor of New York, and was educated at elite schools. From early adulthood, Coleman was groomed to become a top financier by hedge fund legend Julian Robertson, a longtime family friend.
Brevan Howard Expands into Credit Trading (Hedge Week)
Macro hedge fund manager Brevan Howard Asset Management is expanding its operation with a move into credit trading according to a report by Bloomberg. The report cites unnamed sources as revealing that a group of credit trading specialists are to receive more than $1 billion from Brevan Howard, which to date has focused on rates trading, derivatives and relative value strategies.
Carey Olsen and Oakbridge Support Phillip Street Partners on Launch of New Crypto Macro Fund (Hedge Week)
Carey Olsen and Oakbridge Fund Services (Oakbridge) have advised the regulated Singapore investment manager Phillip Street Partners on the launch of PSP Digital Macro Fund Limited (the fund). The fund’s aim is to deliver uncorrelated absolute returns across multiple asset classes, including digital assets. It is structured as a Jersey limited company and established as a Jersey Private Fund, with the potential to upgrade to a Jersey Expert Fund in the future. The Oakbridge team is acting as designated service provider and in doing so provides administration and compliance services to the Fund.
Man Group CEO Luke Ellis Likes Tea, Tokyo, and Ted Lasso (Bloomberg)
Luke Ellis the chief executive officer of Man Group Plc, has led the world’s largest publicly listed hedge fund to record assets under management. Here he divulges some off-duty habits and preferences to Bloomberg TV’s Francine Lacqua, co-anchor of Bloomberg Surveillance and host of Leaders With Lacqua.
Keep the Compounding Effect Alive (Hedge Nordic)
Stockholm (HedgeNordic) – Compounding – the magic of compounding – can do wonders long term, if uninterrupted. “There is one thing that kills the compounding effect,” according to Peter Andersland, who co-founded Norwegian hedge fund powerhouse Sector Asset Management in 1999. That is ‘downside volatility.’ “The most important lesson for investors looking to maximize capital growth is to limit the downside,” says Andersland, who came out of retirement to launch a ‘traditional’ hedge fund under the umbrella of Pensum Asset Management.
The Big Picture: The Age of Global Macro is Back (Opalesque)
GATE Capital Management is a Geneva-based global macro quantamental investment company founded in 2021, currently in the process of acquiring a FINMA license, with a staff of four. The mother company GATE Advisory was founded in 2020. Gate Capital is preparing to launch a pure global macro fund this year. According to the founder, Jacques Lemoisson, now is the time for global macro strategies; it is the beginning of an era, he says. In this interview, Lemoisson describes GATE’s strategies as well as his global macro outlook.
Insider Weekends: Management Of Technology Companies Continue Selling (Seeking Alpha)
Notable Insider Buys: 1. Avis Budget Group, Inc. (CAR): $200.98: Executive Chairman Bernardo Hees acquired 28,334 shares of this car and truck rentals company, paying $172.78 per share for a total amount of $4.89 million. These shares were purchased indirectly through a trust. 2. The Beachbody Company, Inc. (BODY): $2.16: Shares of this health and wellness platform were acquired by 2 insiders: Chairman of the Board, Chief Executive Officer Carl Daikeler acquired 1,789,200 shares, paying $1.75 per share for a total amount of $3.13 million. Mr. Daikeler increased his stake by 367.63% to 2,275,879 shares with this purchase.
Businessman Philip Lynch Barred for Insider Trading (The Irish Times)
The president of the High Court has confirmed a number of penalties on high profile businessman Philip Lynch for insider dealing. Mr Lynch, a former chairman of An Post, the founding chief executive of listed investment group One51 and long-time boss of another listed business, IAWS, is the first person in Ireland found to have engaged in insider dealing.
Insider Trading: May 30, 2022 (BIV.com)
Insider James A Pattison, 10 per cent owner. Company: Westshore Terminals Investment Corp. (TSX:WTE). Shares owned: 4,455,841. Trade date: May 13. Trade total: $3,454,043. Trade: Acquisition of 102,100 shares at a price of $33.83 per share. Insider Francis Nelson Shen, 10 per cent owner. Company: Mediavalet Inc. (TSX:MVP). Shares owned: 1,925,000. Trade date: May 12. Trade total: $2,310,000. Trade: Acquisition of 1,925,000 shares at a price of $1.20 per share.
Friday 5/27 Insider Buying Report: CCL, SWM (Nasdaq.com)
At Carnival, a filing with the SEC revealed that on Wednesday, Director Randall J. Weisenburger purchased 100,000 shares of CCL, for a cost of $11.76 each, for a total investment of $1.18M. Weisenburger was up about 18.1% on the buy at the high point of today’s trading session, with CCL trading as high as $13.88 in trading on Friday. Carnival is trading up about 4.8% on the day Friday. And on Tuesday, Director Jeffrey Keenan purchased $264,060 worth of Schweitzer-Mauduit International, purchasing 10,000 shares at a cost of $26.41 a piece. Before this latest buy, Keenan purchased SWM on 6 other occasions during the past twelve months, for a total investment of $1.43M at an average of $26.89 per share. Schweitzer-Mauduit International is trading up about 1.7% on the day Friday. Keenan was up about 4.9% on the purchase at the high point of today’s trading session, with SWM trading as high as $27.70 at last check today.
