Hedge Fund and Insider Trading News: Bill Ackman, Warren Buffett, Lansdowne Partners, Gersemi Asset Management, ExodusPoint Capital Management, Broadcom Inc (AVGO), Axalta Coating Systems Ltd. (AXTA), and More

Hedge Fund Billionaire Bill Ackman Lays Down His Investing ‘Commandments’ (Fortune)
If you’ve got a portfolio headache on your hands, don’t worry—legendary investor Bill Ackman says it’ll soon become a “blip.” The hedge fund manager, who founded Pershing Square Capital in 2004 and serves as its CEO, has built up a fortune of $3.7 billion during his decades-long career, according to Forbes. However, it hasn’t always been smooth sailing for Ackman, who has made bets that both won and lost him billions of dollars. But in a recent interview, he said looking back over the past two decades reinforces his belief that investing can be fairly straightforward if some simple principles are followed.

Buffett Spurs Sparx CEO to Seek $2 Billion for Engagement Fund (Bloomberg)
When veteran money manager Shuhei Abe met with Warren Buffett in Tokyo earlier this year, they exchanged similar thoughts about value investing in Japan. Now the founder of Sparx Group Co. is seeking to put his ideas into action with a so-called engagement fund to invest in well-run but undervalued Japanese businesses. He’s seeking to attract about $1 billion from global institutional investors over the next three months, and $2 billion by 2024, for the Sparx Owners’ Commitment Fund.

Lansdowne to Launch Fund Targeting Retail Markets – Presentation (Reuters)
London-based investment manager Lansdowne Partners plans to launch a long-only retail version of its flagship Developed Markets Fund, according to a presentation seen by Reuters on Monday, marking another departure from its hedge fund past. Lansdowne, one of Britain’s oldest hedge funds, has experienced a turnaround since July 2020, when it closed its $2.8 billion long-short hedge fund strategy after losses of 23% in the January-June period.

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Gersemi Welcomes New Portfolio Manager Aboard (Hedge Nordic)
Stockholm (HedgeNordic) – Joakim Hannisdahl’s Gersemi Asset Management has officially opened its new office in Oslo and welcomed a freshly hired portfolio manager, Fredrik Flem. Flem joined Gersemi at the start of September to co-manage Hannisdahl’s recently launched long/short shipping hedge fund, Gersemi Shipping Fund. “We opened our new offices in Oslo and welcomed our new colleague, Fredrik Flem, to the team,” announces Hannisdahl, who has been running a shipping-focused strategy after a successful career as a shipping analyst.

ExodusPoint Eyeing $1bn in New Capital (Hedge Week)
ExodusPoint Capital Management, the hedge fund firm founded by Michael Gelband and Hyung Lee, is looking to raise $1bn in new money from investors by the end of the year having reopened to new capital from the first time in three years, according to a report by Bloomberg. The multi-strategy firm, which managed $12.5bn as of 1 July – down from $13bn at the end of 2022, has been closed to new money since September 2020.