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.
BlackRock Profit Jumps on Broader Pandemic Recovery (The Wall Street Journal)
The money manager posts profit of $1.2 billion and sees assets under management rise. BlackRock Inc.’s quarterly profit rose 49% as the giant asset manager benefited from surging markets and investors’ willingness to bet on an economic recovery. The money manager posted a first-quarter profit of $1.2 billion, or $7.77 a share, up from $806 million, or $5.15 a share, a year earlier. BlackRock’s revenue rose 19% to $4.4 billion from $3.7 billion in the year ago period when panicked investors fled to cash while a pandemic rippled through the globe.
Hedge Fund Titans Fight Back as Larger Managers Pull Ahead in March (Reuters)
Larger hedge funds have entered the second quarter on a high after a staging an impressive fightback which saw them generate above-average returns in March after lagging the industry average during the first two months of the year. The 10 biggest hedge fund managers reporting to eVestment’s database experienced gains of 1.12 per cent in March, compared to an industry average return of 0.83 per cent last month. Overall, eVestment’s Hedge Fund Aggregate ended Q1 up 4.92 per cent, outperforming both the Bloomberg Barclays Global Aggregate (-4.46 per cent) and the MSCI World ex-US GD (4.17 per cent), though lagging the S&P 500 (6.17 per cent).
A Director at RPM International (NYSE: RPM) is Selling Shares (Analyst Ratings)
Today, a Director at RPM International (RPM), Thomas Gross, sold shares of RPM for $1M. This is Gross’ first transaction since reporting a Buy transaction on WBC back in March 2017. Based on RPM International’s latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $1.27 billion and quarterly net profit of $38.24 million. In comparison, last year the company earned revenue of $1.17 billion and had a net profit of $11.85 million. The company has a one-year high of $98.35 and a one-year low of $62.39. Currently, RPM International has an average volume of 528.05K.
IPI Partners Raises $3.8 Billion with a Second Infrastructure Fund (Opalesque)
Global investment platform IPI Partners has wrapped up its second flagship private equity fund after securing $3.8 billion from investors, with plans to target data centers and other connectivity-related investments, the firm said. A press release from the joint venture of ICONIQ Capital and Iron Point Partners pointed out that the fund acquires, develops, leases, and operates data centers. With the closing of IPI II, IPI has raised more than $5.25 billion in total equity capital commitments since its inception, it said. IPI’s second fund attracted demand well over its target, reflecting strong support from a global institutional investor base.
Coindex Capital Raises Minimums For Its AI-Driven Funds To $1 Million (The Street)
It’s been two weeks since Coindex Capital Management registered four AI-driven strategies with the SEC and minimums have already gone up. The Atlanta-based hedge fund filed amendments yesterday to raise the minimum investment on all four of its funds from $100,000 to $1 million. It’s a sign that Coindex has piqued the interest of institutional investors.
The SVP R&D of NanoString Tech (NASDAQ: NSTG) is Selling Shares (Analyst Ratings)
Yesterday, the SVP R&D of NanoString Tech (NSTG), Joseph Beechem, sold shares of NSTG for $662.3K. In addition to Joseph Beechem, 3 other NSTG executives reported Sell trades in the last month. The company has a one-year high of $86.42 and a one-year low of $24.87. Currently, NanoString Tech has an average volume of 483.89K. NSTG’s market cap is $3.14 billion and the company has a P/E ratio of -24.90.
