Investor Elliott Builds Key Stake in Japan’s Dai Nippon Printing – Sources (Reuters)
Hedge fund Elliott Management Corp has built a “significant” stake in Japanese automotive battery component supplier Dai Nippon Printing Co Ltd (DNP) (7912.T), sources familiar with the matter told Reuters on Tuesday. Elliott, one of the world’s most powerful activist investors, has become one of the top three shareholders in DNP with a significant position, said the sources, who declined to be identified as the matter is private.
Watchdog Monitors Hedge Fund After Crispin Odey Faces More Sex Claims (The Times)
The City regulator is monitoring developments at Crispin Odey’s hedge fund firm after further allegations of sexual misconduct were made against him. Odey, 63, was cleared of indecent assault after a trial almost two years ago. There have since been other claims about his behaviour, however, including an accusation reported last month by the news website Tortoise about an alleged incident that is said to have taken place after his trial.
Cathie Wood’s ARKK Is Well on Way to One of Its Best Months Ever (Bloomberg)
Cathie Wood’s flagship strategy is on course for one of its best months on record, joining assets across Wall Street that are so far defying gloomy expectations for the year ahead in emphatic style. The ARK Innovation ETF (ticker ARKK) has returned almost 22% since the start of January, currently set for its third-strongest month ever. With a week of trading still to go, the fund could yet eclipse the 26% and 24% monthly returns it delivered in 2020, the year it burst onto the global investing scene.
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The Unknown Hedge Fund That Got $400 Million From Sam Bankman-Fried (The New York Times)
Not long before FTX collapsed in November, its founder, Sam Bankman-Fried, sent $400 million to an obscure cryptocurrency trading firm called Modulo Capital. The fledgling firm, which was founded in March and operated out of the same Bahamian compound where Mr. Bankman-Fried lived, had no track record or public profile. One of the founders, Duncan Rheingans-Yoo, was only two years out of college. His business partner, Xiaoyun Zhang, known as Lily, was a former Wall Street trader who had previously been romantically involved with Mr. Bankman-Fried, according to four people with knowledge of their relationship.
Playing Offense in the Net-Zero Transition (Hedge Nordic)
Stockholm (HedgeNordic) – The world’s adoption of cleaner energy had been ongoing prior to Russia unleashing war in Ukraine. The war and its consequences demonstrated the urgency of accelerating the energy transition, kicking clean energy transition efforts into higher gear. After three years of running an energy transition-focused market-neutral fund, Joel Etzler and Vidar Kalvoy from Coeli are going on the offense. The duo is launching a more long-biased long/short equity fund focused on renewables named Coeli Renewable Opportunities.
