Oil Correction Bets Pay Off for Energy Hedge Fund Westbeck (Hedge Week)
Energy-focused hedge fund Westbeck Capital has bagged its sixth consecutive monthly gain, as it “aggressively” tapped into buying opportunities during last month’s steep oil correction. The Westbeck Energy Opportunity Fund – Westbeck’s flagship long/short directional hedge fund strategy which trades across equities, futures and options – scored a 3.9 per cent gain in April, and has already started May positively, the firm said on Wednesday.
Bill Ackman Says He’s Built a Stake in Domino’s Pizza, Owns Roughly 6% (Bloomberg)
Bill Ackman has taken a stake in another big-name consumer company: Domino’s Pizza Inc. Ackman’s Pershing Square Capital Management has built a roughly 6% stake in the pizza chain, he said Wednesday, saying he believes the company has plenty of upside. Ackman said during The Wall Street Journal’s Future of Everything conference that his New York hedge fund bought a stake in the pizza operator after selling one in Starbucks Corp.
Perceptive Advisors Closes $515 Million Perceptive Xontogeny Venture Fund II, LP (Business Wire)
NEW YORK & BOSTON–(BUSINESS WIRE)– Perceptive Advisors, an investment management firm focused on the life sciences sector, today announced the first and final closing of Perceptive Xontogeny Venture Fund II, LP (“PXV Fund II”) with $515 million in capital commitments in an oversubscribed fund to further the firm’s early-stage life sciences platform. The close of PXV Fund II more than triples assets under management to $725 million in less than two years since the closing of the inaugural PXV Fund I, which launched Perceptive’s early-stage venture fund strategy. PXV Fund II includes existing investors from the inaugural fund, new investors including top-tier asset managers, endowments, foundations, family offices, and notable individual investors, and all of the PXV Fund II Partners.
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Hedge Fund Tiger Global is Beating Out Silicon Valley VCs and Averaging More than 1 Startup Investment per Business Day so Far This Year. Here’s 110 of Them. (Business Insider)
A hedge fund is eating venture capital’s lunch. Tiger Global, a type of fund that raises outside capital to invest in a smorgasbord of asset types, has participated in 110 startup financings so far this year, including breakouts like Clubhouse, Stripe, and Hopin, according to Pitchbook data.
Month in Review – April 2021 (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic hedge funds advanced in April for the sixth consecutive month, with the industry gaining 4.1 percent in the first four months of 2021. Nordic hedge funds, as expressed by the Nordic Hedge Index, were up 1.2 percent on average (93 percent reported) last month, with equity managers driving the gains.
Hedge Fund Elliott to Buy Bankrupt Stationery Retailer Paper Source (The Wall Street Journal)
Hedge fund Elliott Investment Management LP, which owns the Barnes & Noble bookstore chain, Tuesday said it agreed to buy stationery and gift retailer Paper Source Inc. out of bankruptcy. Elliott said the deal will allow Chicago-based Paper Source to emerge from chapter 11 with a reduced debt load and roughly 130 stores across the U.S., along with its papersource.com website and its Waste Not Paper by Paper Source wholesale division.
Equity Hedge Fund Argonaut Capital Sees “Treasure Trove” of Shorting Opportunities (Hedge Week)
Long-short equity hedge fund Argonaut Capital is eyeing a potential “treasure trove” of short opportunities in previously well-regarded stocks, as the changing inflationary environment and opening up of economies impacts markets. The London-based equities-focused firm’s core strategy, which is built around Argonaut founder, CEO and CIO Barry Norris’s ‘earnings surprise’ investment process, has gained 4.1 per cent so far in May, having rebounded from an April loss of 0.34 per cent.
Ray Dalio Says Crypto could be a Victim of Its Own Success by Inviting Regulation – and His Comments Follow Tough Words from Watchdogs (Business Insider)
Billionaire hedge fund boss Ray Dalio has said the biggest risk to cryptocurrencies is their own success, which could cause governments to crack down on them to ensure they control the money supply. Talking about cryptocurrencies, Dalio told the Wall Street Journal “Future of Everything Festival” on Tuesday: “Its own biggest risk is its success, because as a storehold of wealth no government wants to have an alternative currency.
Safe Merger for Merkur (Hedge Nordic)
Stockholm (HedgeNordic) – Formuepleje Merkur, the fund of funds managed by Danish asset manager Formuepleje, is in the process of merging into the asset manager’s oldest investment vehicle, Formuepleje Safe. According to a statement, Formuepleje Merkur is set to be merged into the other vehicle because of insufficient assets under management, with the fund of funds overseeing DKK 52 million as of the end of April.
NY Hedge Fund Founder Daniel Kamensky Sentenced to 6 Months in Neiman Marcus Fraud (The Jewish Voice)
Seems like the corrupting power of money has taken yet another toll. On Friday, Audrey Strauss, the United States Attorney for the Southern District of New York, announced that Daniel Kamensky, the founder and former manager of New York-based hedge fund Marble Ridge Capital (“Marble Ridge”), was sentenced in Manhattan federal court to six months in prison for engaging in fraud and extortion to pressure a rival bidder to abandon its higher bid for assets in connection with Neiman Marcus’s bankruptcy proceedings so that Marble Ridge could obtain those assets for a lower price. In February of 2021, Kamensky pled guilty before United States District Judge Denise L. Cote, who imposed the sentence on Friday.
The TREASURER of SEI Investments Company (NASDAQ: SEIC) is Selling Shares (Analyst Ratings)
Yesterday, the TREASURER of SEI Investments Company (SEIC), Kathy Heilig, sold shares of SEIC for $820.7K. Following Kathy Heilig’s last SEIC Sell transaction on November 25, 2020, the stock climbed by 8.0%. In addition to Kathy Heilig, 2 other SEIC executives reported Sell trades in the last month. Based on SEI Investments Company’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $456 million and quarterly net profit of $129 million.
Cigna Corp (CI) President & CEO David Cordani Sold $16.2 million of Shares (Guru Focus)
President & CEO of Cigna Corp., David Cordani, sold 62,123 shares of CI on 05/07/2021 at an average price of $260.83 a share. The total sale was $16.2 million.
PC Jeweller Case: Sebi Fines, Bars 4 Individuals, 1 Entity from Securities Mkt (Economic Times)
NEW DELHI: Sebi on Tuesday imposed a total fine of Rs 1 crore on four individuals and an entity as well as barred them from the securities market for one year in a case of alleged insider trading activities in the shares of PC Jeweller NSE 0.00 %. Besides, they have been restrained from dealing with the securities of PC Jeweller, directly or indirectly, for two years.
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