The Bodenholm Spin-Off (Hedge Nordic)
Stockholm (HedgeNordic) – At least three spin-offs emerged from the closure of Swedish hedge fund Bodenholm in March of last year. Jakob Nordestedt launched a market-neutral strategy at Nordea Asset Management, Erik Orving and Per Johansson joined forces to launch Boden Capital in late 2020. Mads Thamsborg, the former Partner responsible for the short book at the now-closed Bodenholm, took the majority of the Bodenholm investment team under his wing to re-launch a long/short equity strategy under the umbrella of Nyhavn Capital.
Elliott Calls for Clarity on Healthcare Trust of America’s Potential Sale (Reuters)
(Reuters) -Activist investor Elliott Investment Management on Tuesday asked Healthcare Trust of America for more clarity regarding the real estate investment trust’s process to examine strategic alternatives, including a potential sale. The letter from Elliott comes weeks after the activist investor urged the company to conduct a strategic review, including the solicitation of bids, citing investor frustration at its longstanding underperformance.
AQR Makes a Case for Trend Following as Inflation Fuels Comeback (Bloomberg)
AQR Capital Management is tapping into inflation fears on Wall Street to make its case for a decade-lagging quant strategy that fell flat in the pandemic volatility last year. A new study from the quant firm argues that the trend-following investing style is among the few ways to eke out real returns consistently in the era of consumer-price growth.
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Casdin’s New Private Equity Fund (Institutional Investor)
Another life sciences specialist announces that it will raise money to invest in the private markets. Casdin Capital is the latest life sciences hedge fund firm to launch a new private equity fund.The firm headed by Eli Casdin raised at least $235 million for Casdin Private Growth Equity Fund II, according to a regulatory filing.
Crypto Hedge Fund Corinthian Names ex-Macquarie Equity Research Chief Peter Redhead as COO (Hedge Week)
Corinthian Digital Asset Management, a diversified digital assets offshoot of London-based crypto arbitrage hedge fund Argentium, has named ex-Macquarie and JP Morgan equity research head Peter Redhead as partner and chief operating officer. Redhead joins as Corinthian, which was established by Argentium founder Paul Frost-Smith, prepares to open its debut hedge fund strategy Chiron to external capital in February 2022. Redhead previously spent more than five years at Macquarie Global, most recently as global head of equity research. Earlier, he had been managing director and head of EMEA equity research and head of Asian equity research at JP Morgan.
Impact Investing in a Shifting Investment Paradigm (Preqin)
The size of the impact investing market is growing, and specialized impact investors could be best placed to capitalize on this changing focus. The COVID-19 pandemic has had permanent effects all around the globe. Furthermore, the outbreak exposed many existing social and economic weaknesses. How has this new paradigm shift changed the scope of impact investing? The pandemic magnified existing global problems. It took issues like poverty, gender inequality, and job insecurity, and exacerbated them. It has also added further fuel to the debate surrounding the climate crisis. However, I wouldn’t say that all of this has changed the scope of impact investing; rather, it has highlighted the importance of, and opportunities presented by, impact investing. These are exactly the areas on which BlueOrchard has focused over the past 20 years.
Lazard Is in Talks to Buy Hedge Fund Brigade in Credit Push (Bloomberg)
Investment bank Lazard Ltd. is in advanced talks to acquire hedge fund firm Brigade Capital Management, according to people with knowledge of the matter. The $30 billion credit-investment firm, run by Don Morgan, is close to inking a deal with New York-based Lazard that will add to its asset-management business, the people said, asking not to be identified discussing private information. A spokesman for Brigade declined to comment, and a representative for Lazard didn’t immediately respond to requests for comment.
BondBloxx Investment Manager Brings on Co-Founder (Pensions&Investments)
Tony Kelly is joining new fixed-income exchange-traded fund issuer BondBloxx Investment Management as co-founder. Mr. Kelly, who was previously managing director, global head of product and strategy for the ETF business at Goldman Sachs Asset Management, will join the founding team led by Leland Clemons, who served in multiple roles with BlackRock’s iShares ETF business from 2005 to 2019, according to a BondBloxx news release Tuesday.
Eagle Point Credit Management Closes Defensive Income Fund at Hard Cap of USD300m (Institutional Asset Manager)
Eagle Point Credit Management (Eagle Point), a specialist investment manager focused on investing in CLO securities, portfolio debt securities and other credit investments, has held the final close of its Defensive Income Fund. The fund had an original target size of USD250 million, was oversubscribed and closed at its hard cap of USD300 million. “We saw very strong demand for our defensive income strategy, which we believe provides an attractive and uncorrelated source of yield,” says Thomas Majewski, Managing Partner of Eagle Point. “This niche investment strategy capitalises on Eagle Point’s highly differentiated approach to source, diligence and acquire portfolio debt securities, including debt and preferred equity issued by credit funds and BDCs, which is unique among institutional credit managers. We greatly appreciate the confidence that our investors have in our ability to deliver yield across market cycles.”
Tuesday 11/2 Insider Buying Report: KEX (Nasdaq.com)
On Friday, Kirby’s Director, Barry E. Davis, made a $528,818 buy of KEX, purchasing 10,000 shares at a cost of $52.88 each. Davis was up about 4.2% on the purchase at the high point of today’s trading session, with KEX trading as high as $55.09 at last check today. Kirby is trading down about 0.3% on the day Tuesday.
President And CEO Of Arista Networks Sold $16M In Stock (Benzinga)
Jayshree Ullal, President And CEO at Arista Networks (NYSE:ANET), made a large insider sell on October 29, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Friday showed that Ullal sold 41,000 shares of Arista Networks at prices ranging from $403.49 to $404.44. The total transaction amounted to $16,563,040.
The Chief Executive Officer & Managing Director of Adriatic Metals Shs Chess Deposit Interests Repr 1 Sh (Other OTC: ADMLF) is Selling Shares (Analyst Ratings)
Today, the Chief Executive Officer & Managing Director of Adriatic Metals Shs Chess Deposit Interests Repr 1 Sh (ADMLF), Paul D Cronin, sold shares of ADMLF for $8.4M. ADMLF’s market cap is $454 million and the company has a P/E ratio of -33.90. The company has a one-year high of $2.50 and a one-year low of $1.52.
