RenTech’s Jim Simons Donates a Record $500 Million to Stony Brook (Bloomberg)
Renaissance Technologies founder Jim Simons and his wife Marilyn are giving $500 million to Stony Brook University, the public college on Long Island where he taught before leaving to start his wildly profitable hedge fund. The gift, made by their Simons Foundation, will be the largest unrestricted donation to an institution of higher education in US history, according to a statement Thursday. The funds will go toward Stony Brook’s endowment.
SVB Securities Prepares Management Buyout Backed by Baupost (The Wall Street Journal)
Management bid was only one to emerge during bankruptcy proceedings this week for the former parent of Silicon Valley Bank. The investment banking business tied to Silicon Valley Bank is preparing a management buyout that has the backing of Seth Klarman’s hedge fund, Baupost Group, according to people familiar with the matter.
Polar Capital’s head of trading departs for rival hedge fund Millennium (The Trade News)
Polar Capital’s head of trading Alex Jenkins has left the boutique hedge fund to join rival Millennium, The TRADE can reveal. Her new title is unconfirmed. Polar Capital confirmed Jenkins’ departure. Millennium declined to comment. Jenkins has been head of trading at Polar Capital for three and a half years, joining in 2019 after serving with Highbridge Capital Management for five years as its head of European trading. Previously in her career she spent several years at Cantor Fitzgerald and Virtu Financial in equity sales trading roles. Jenkins won Trader of the year (hedge fund) at Leaders in Trading 2021 after also being recognised as a Rising Star of Trading and Execution in 2019.
ValueAct Calls for Private Dialogue with Seven & I After Losing Board Battle (Reuters)
ValueAct Capital has called for private dialogue with Seven & I Holdings Co Ltd after the U.S. hedge fund lost a public battle to change the leadership of the Japanese retail giant. The fund, in a letter to shareholders dated Wednesday, said it looked forward to “private and constructive dialogue” with the operator of the 7-Eleven and Speedway convenience store chains.
Healthcare: A Stock Picker’s Dream and Nightmare (Hedge Nordic)
Stockholm (HedgeNordic) – Trond Tviberg, one of the founding investment managers of Sector Asset Management’s healthcare-focused Gamma arm, embarked on a new venture after resigning from Sector in February 2021. Seeking a fresh challenge, Tviberg received an exciting proposition from Mads Andreassen, a former portfolio manager from the same Gamma team, to launch a new healthcare fund. Since September of last year, the duo has successfully managed Senior Healthcare Opportunities Fund, a low-net long/short equity fund specializing in the healthcare sector.
Bill Ackman Calls on JPMorgan CEO Dimon to Run for US President (Reuters)
Billionaire hedge fund manager Bill Ackman said Jamie Dimon should run for president in the next U.S. elections after the JPMorgan Chase & Co (JPM.N) CEO expressed his interest in pursuing a public office. “I love my country, and maybe one day I’ll serve my country in one capacity or another,” Dimon said in an interview with Bloomberg TV earlier on Wednesday, when asked if he would ever consider public office.
Wirecard Critics Neil Campling and Toby Clothier Launch Hedge Fund (InvestmentWeek.co.uk)
Two analysts who spotted the downfall of Wirecard years before its collapse have launched a new hedge fund. Neil Campling and Toby Clothier, who previously worked together at Mirabaud Securities, have founded Chameleon Global Capital Management, a hedge fund under the umbrella of Ronit Capital. The fund launched to friends and family on 1 May and launched publicly today (1 June), with a strong focus on TMT (technology, media and telecommunications) and macroeconomics.
London Hedge Fund Takes Fourth Short Bet on Kerry Group Shares (BusinessPost)
Greenvale Capital, a London hedge fund with nearly £1 billion worth of assets under management, has taken a short position on 0.5 per cent of shares in Kerry Group. The position is worth the equivalent of €80 million at Kerry’s current share price of around €91. A short trade is a risky bet in which a trader borrows a share from a broker and sells it on the open market, in the hope that they…
Wednesday 5/31 Insider Buying Report: HI, SAFE (Nasdaq.com)
At Hillenbrand, a filing with the SEC revealed that on Friday, Director Helen W. Cornell purchased 5,200 shares of HI, for a cost of $48.65 each, for a total investment of $252,974. Hillenbrand is trading down about 0.9% on the day Wednesday. This purchase marks the first one filed by Cornell in the past twelve months. And at Safehold, there was insider buying on Friday, by CHAIRMAN AND CEO Jay Sugarman who purchased 10,000 shares at a cost of $24.58 each, for a trade totaling $245,849. Before this latest buy, Sugarman bought SAFE at 4 other times during the past twelve months, for a total cost of $116,745 at an average of $27.15 per share. Safehold is trading up about 2% on the day Wednesday. So far Sugarman is in the green, up about 4.6% on their purchase based on today’s trading high of $25.71.
Around $13M Bet On This Utilities Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Southwest Gas Holdings: The Trade: Southwest Gas Holdings, Inc. (SWX) 10% owner Icahn Partners Master Fund LP acquired a total 224,812 shares an average price of $57.41. To acquire these shares, it cost around $12.91 million. RenaissanceRe Holdings: The Trade: RenaissanceRe Holdings Ltd. (RNR) Director, Pres & Chief Executive Officer Kevin Odonnell acquired a total of 13,020 shares at an average price of $192.00. To acquire these shares, it cost around $2.5 million.
