The Brothers of King Street Let Down Their Guard (Institutional Investor)
Brian Higgins and O. Francis Biondi Jr., co-founders of the standout hedge fund King Street Capital Management, have done few interviews, especially compared to some other giants of the industry. So when a camera-primed Higgins signed into a Zoom call for this story and discovered he was conversing with a generic avatar, he was “really disappointed.”
Three Arrows Founder Su Zhu Obtains Singapore Restraining Order Against Arthur Hayes Over ‘Harassment’ (CoinDesk)
Su Zhu, a co-founder of defunct crypto hedge fund Three Arrows Capital (3AC), has obtained a restraining order against Arthur Hayes, a co-founder of the BitMEX trading platform, from a Singapore court. The order, dated May 5 and seen by CoinDesk, prohibits Hayes from using “threatening, abusive or insulting words” and “making any threatening, abusive or insulting communication, that would cause the Applicant harassment, alarm or distress.”
Month in Review – April 2023 (Hedge Nordic)
Stockholm (HedgeNordic) – After ending the first quarter of 2023 on a sour note amid banking turmoil, Nordic hedge funds began the second quarter on a positive note with an average advance of 0.6 percent in April (as reported by 90 percent of funds). There was high dispersion in the performance of equity hedge funds, which dominated both the top and bottom of the performance table.
Hedge Funds Turn to Outsourcing as They Look to Adopt AI Capabilities and Migrate to the Public Cloud (Opalesque.com)
Rising inflation is changing how hedge funds manage and support their IT services, revealed a survey. More than half of firms (55%) that currently outsource their IT management and support said they would increase outsourcing due to inflationary pressure, said the 2023 Hedge Fund Managed IT Trends Report by Agio. The Great Resignation (also known as the Big Quit and the Great Reshuffle), which refers to the higher-than-usual number of employees voluntarily leaving their jobs since late 2020, has had an even sharper effect on the push toward outsourcing, with 87 percent of firms looking to increase outsourcing due to high employee turnover and increased labor costs.
Wednesday 5/10 Insider Buying Report: ADC, USB (Nasdaq.com)
At Agree Realty, a filing with the SEC revealed that on Monday, John Rakolta Jr. bought 10,495 shares of ADC, at a cost of $67.85 each, for a total investment of $712,086. Agree Realty is trading up about 0.3% on the day Wednesday. Before this latest buy, Rakolta Jr. made one other purchase in the past year, buying $785,180 shares for a cost of $71.38 each. And also on Monday, Vice Chair James B. Kelligrew bought $497,475 worth of US Bancorp, buying 16,260 shares at a cost of $30.59 a piece. US Bancorp is trading down about 0.8% on the day Wednesday.
More Than $47M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Morphic Holding: The Trade: Morphic Holding, Inc. (MORF) Director Timothy A Springer acquired a total 1,050,000 shares an average price of $45.00. To acquire these shares, it cost around $47.25 million. Howard Hughes: The Trade: The Howard Hughes Corporation HHC Director William Ackman acquired a total of 31,083 shares at an average price of $74.72. To acquire these shares, it cost around $2.32 million.
