Activist Investor Elliott Takes Multibillion Pound Stake in GSK, FT Says (Reuters)
LONDON (Reuters) -Activist hedge fund Elliott Management has taken a multi-billion pound stake in GlaxoSmithKline, the Financial Times reported on Thursday, after a year that has seen the British pharma firm take a backseat role in the COVID-19 vaccine race. Shares in GSK erased losses and traded more than 7% higher on the report, and were last up 5% at 1151 GMT. A GSK spokesman declined to comment on the report. Elliott did not immediately respond to a request for comment.
Brevan Howard’s Main Hedge Fund to Start Buying Cryptocurrencies (Bloomberg)
Brevan Howard Asset Management is preparing to start investing in digital assets, becoming the latest money manager looking to exploit the boom in cryptocurrencies. The firm led by Aron Landy will begin by investing up to 1.5% of its $5.6 billion main hedge fund in digital assets, according to a person with knowledge of the matter. The initial allocation will be overseen by Johnny Steindorff and Tucker Waterman, co-founders of crypto investment firm Distributed Global, the person said, asking not to be identified because the information is private.
‘We’re Just Getting Started’, Billionaire Ex-Hedge Fund Manager Says on Crypto Wealth Growth (Finbold)
Crypto investment firm Galaxy Digital CEO, ex-hedge fund manager, and billionaire Mike Novogratz has said wealth generated from the cryptocurrency sector will spike in the future, and current gains represent a starting point. Speaking during CNBC’s Squawk Box show, Novogratz said the entry of more institutions into the crypto sector will be a catalyst for growth. He further acknowledges that the sector is still in the infancy stage.
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Latin America: Primed and Ready for Impact Investment (Preqin)
With much of the region still developing, what makes Latin America, and Brazil even more so, unique compared with other emerging markets? We believe Latin America’s economic, environmental, and social diversity makes it unique, notably the region’s large territorial extension, untapped and diversified consumer base, and recent economic development. More acutely, we see increasing capital flowing into regional private markets due to the positive economic and currency cycles. Despite the recent growth, however, we believe that Latin American private markets are still in their infancy in terms of size and relevance.
Bet on Defensives (Hedge Nordic)
Stockholm (HedgeNordic) – Max Mitteregger, the founder and portfolio manager of Stockholm-based long/short equity fund Gladiator Fond, has long been concerned about the massive central bank money printing and ever-increasing debt levels over the last decade or so. The renewed monetary and fiscal stimulus in response to the consequences of the COVID-19 pandemic has only added to the concerns. Mitteregger’s cautious stance, as reflected in his concentrated portfolio of defensive names and relatively low net market exposure, has hurt the performance of Gladiator Fond so far this year.
