Maples Group appoints new Head of MPMF (Private Equity Wire)
MPMF Fund Management (Ireland) Limited (MPMF), the Maples Group’s alternative investment fund manager and UCITS management company, has appointed industry expert, Declan McHugh who will have overall responsibility for MPMF’s business in Ireland. An evolving regulatory environment, new and extensive authorisation, operational and transparency requirements, and increasing demands from regulators and investors have made operational efficiency more important than ever. At the same time, the management company space has rapidly matured and has become increasingly integrated with investment manager operations. Given these dynamics, fund managers are looking for holistic solutions – including management company, legal, fiduciary and fund services – that can effectively address their resource, technology and governance requirements. With demand for this support expected to grow, Declan’s appointment will ensure MPMF is well positioned to continue to deliver best-in-class solutions to the market.
BlackRock Raises $3 Billion for First Dedicated Secondary Strategy (The Wall Street Journal)
Asset-management giant has raised it first ever fund to buy secondhand private-equity stakes. BlackRock Inc. has raised $3 billion to invest in the private-equity secondary market, as the world’s largest asset manager seeks to expand its presence in illiquid alternative investments. BlackRock Secondaries & Liquidity Solutions LP is among the largest debut funds ever raised to buy secondhand private equity stakes.
Danish Court Rules in Favor of Pre-Trial Detention for Hedge-Fund Trader Sanjay Shah (Bloomberg Quint)
(Bloomberg) — A Danish court has ruled that hedge-fund trader Sanjay Shah and an associate should be detained before their trial begins, after the two were charged with tax fraud as part of a wider Cum-Ex investigation. The decision, which was widely expected and announced by multiple local media outlets on Wednesday, paves the way for Denmark to seek formal extradition of Shah, who lives in Dubai, and his alleged accomplice, Anthony Mark Patterson, whose address is in the U.K. Both were charged earlier this year for their roles in claiming what police say were illegal refunds on dividend taxes.
CASI Pharma Trades Higher on Insider Buying (Seeking Alpha)
CASI Pharmaceuticals (NASDAQ:CASI) has added ~8.0% in the pre-market after its Chairman/CEO Wei-wu He disclosed the purchase of 3M company shares in a regulatory filing submitted yesterday. Making the company’s first insider transaction for the year, Wei-wu He has bought 3M common stock at an average price of $2.05 per share for a total value of $6.2M. CASI, a biopharmaceutical company with a hematology-oncology therapeutic focus targeting the global markets including the U.S. and China recently closed an underwritten public offering of 15.8M shares at $2.05/share.
MP Materials Corp (MP) Chairman and CEO James H. Litinsky Sold $155.5 million of Shares (Guru Focus)
Chairman and CEO of MP Materials Corp, James H. Litinsky, sold 4,603,123 shares of MP on 03/26/2021 at an average price of $33.78 a share. The total sale was $155.5 million. MP Materials Corp has a market cap of $5.86 billion; its shares were traded at around $34.310000 with and P/S ratio of 21.39.
What Did This CEO Just Do with Personal Shares of Transcat (NASDAQ: TRNS)? (Analyst Ratings)
Yesterday, the President & CEO of Transcat (TRNS), Lee Rudow, sold shares of TRNS for $686.1K. Following Lee Rudow’s last TRNS Sell transaction on August 05, 2015, the stock climbed by 42.4%. This is Rudow’s first Sell trade following 6 Buy transactions. Based on Transcat’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $44.06 million and quarterly net profit of $1.76 million. In comparison, last year the company earned revenue of $43.18 million and had a net profit of $1.48 million. The company has a one-year high of $54.15 and a one-year low of $22.87. Currently, Transcat has an average volume of 59.74K.
