Advanced Oncotherapy Bags Investment from Hedge Fund Group Odey Asset Management (Proactive Investors)
Multi-millionaire hedge fund manager Crispin Odey’s investment company has backed a £6mln fundraiser by Advanced Oncotherapy PLC (AIM:AVO). Odey Asset Management stumped up £4.5mln as it and other supporters of the group subscribed for new shares at a 19% premium to Monday’s close. The equity comes with a warrant attached exercisable above 25p a share. The cash injection will help get the AVO’s next-generation proton beam therapy system up and running.
Tiger Global’s Day of Reckoning May Never Come (Bloomberg)
New York-based Tiger Global Management is taking a lot of heat for incurring one of the largest-ever losses by a hedge fund this year. Things could have been a lot worse for the tech-focused investor, which became the world’s busiest venture capitalist last year. Paper losses at Tiger’s stock-picking arm are staggering. Its main hedge fund, which managed $20.5 billion at the end of 2021, was down 52% in the first five months. Its other large long-only stock fund fell 61.7%. Stumbles of this scale prompted the firm to cut its management fees, perhaps as a gesture of apology to its investors.
Cathie Wood: NFTs, DeFi, Digital Wallets will Become Important, Huge Opportunities (CNBC)
Ark Invest CEO Cathie Wood said Tuesday that digital property rights related to non-fungible tokens (NFTs) and decentralized finance (DeFi) that have underpinned the emergence of Web3 “are going to become incredibly important.” “DeFi has taken off and we’re impressed at how robust the ecosystem has been,” Wood said on CNBC’s “Squawk Box,” adding that the “token revolution” surrounding NFTs is “most in its infancy.”
How These 3 Hedge Funds are Up More than 100% Even as Markets Slump and Other Managers Struggle (Business Insider)
Some hedge funds are having a tough first half of the year, but others are winning in a tumultuous market environment. New York-based global macro hedge fund Haidar Capital Management, e360’s Power Fund, a commodity-based hedge fund in Austin, Texas, and investor Crispin Odey’s eponymous hedge fund have topped the charts for their performance over the five months ending in May, according to a report by Societe Generale’s prime services business.
Crypto Hedge Fund Three Arrows Capital is an ‘Old-Fashioned Madoff-Style Ponzi Scheme,’ Research Firm FSInsight Says (Fortune)
The crypto industry was “brought to its knees” in recent weeks by an “old-fashioned Madoff-style Ponzi scheme” wrapped in a trade that was similar to the positions that sunk Long Term Capital Management (LTCM),” research firm FSInsight said in a report Friday looking at the implications of the implosion of cryptocurrency hedge fund Three Arrows Capital (3AC). Madoff in this scenario would be the founders of 3AC, Su Zhu and Kyle Davies, who used their reputation to “recklessly borrow from just about every institutional lender in the business,” resulting in pain for some high-profile names in the industry, including Voyager Digital, Babel Finance and BlockFi, Sean Farrell, head of digital asset strategy at FSInsight, wrote in the report.
Toshiba Board Gains Two Directors from Activist Funds in Historic Shift (Reuters)
TOKYO, June 28 (Reuters) – Toshiba Corp (6502.T) shareholders voted in on Tuesday two board directors from activist hedge fund investors – a step expected to add momentum to the industrial group’s exploration of potential buyout deals. Toshiba’s annual general meeting elected Nabeel Bhanji, a senior portfolio manager at Elliott Management, and Eijiro Imai, managing director at Farallon Capital Management as new board members. Shareholders also chose Akihiro Watanabe, an executive from boutique U.S. investment bank Houlihan Lokey, who becomes board chairman.
Twin Bridge Capital Partners Closes Fifth Fund on $880 Million (Opalesque)
Twin Bridge Capital Partners has closed its fifth flagship fund on $880 million. The fund was oversubscribed and beat its $800 million target. Pacific Street Fund V is larger than its predecessor fund. Pacific Street IV, L.P. closed in 2017 with $779 million in commitments. Chicago based Twin Bridge invests in North American middle and lower middle market companies. Pacific Street Fund V will invest in a diversified mix of lower middle market buyout funds targeting between $400 million and $2 billion in investor…
Griffin’s $50 Million Illinois Governor Pick Is Running Behind (Bloomberg)
Billionaire Ken Griffin said in November he was “all in” to unseat Illinois Democratic Governor J.B. Pritzker and contributed $50 million toward that effort. Yet the Republican candidate he’s backing isn’t favored to win Tuesday’s primary. Griffin’s pick, Richard Irvin — the mayor of the second-largest city in Illinois — has been slipping in local polls against state Senator Darren Bailey, a downstate conservative endorsed by former President Donald Trump. In one of the latest polls late last week by Ogden & Fry, 37.6% of respondents said they would support Bailey in the Republican primary, compared with 12.7% for Irvin.
European ESG Assets to Reach $10tn by 2025 (Opalesque)
European-domiciled ESG assets are poised to reach a value of between €7.4 trillion and €9 trillion ($9.52tn) by 2025, said a study. According to the research by PwC Luxembourg, by 2025 ESG assets will account for between 46% and 56% of total European Mutual Fund assets; up from 37% by end-2021. “European-domiciled ESG ETF assets are poised to surge at a CAGR of between 33.3% and 43.0% CAGR, to reach between EUR 684bn and EUR 906bn by 2025,” the research, which has been acquired via the accounting firm’s interactive ESG dashboard ‘The ESG Opportunity in Europe’.
Hedge Funds Trying to Create FUD, Ardoino Says in Twitter Thread (Investing.com)
Paolo Ardoino, CTO at Tether, revealed that some hedge funds have attempted to cause further panic in the market after Terra/LUNA collapse. In detail, Ardoino tweeted that hedge funds have attempted to shorten USDT by borrowing hundreds of millions of stablecoin in loans. He also remarked that this attempt seems like a coordinated attack, with a chance to create a new wave of FUD, troll armies, and clowns, among others.
Tuesday 6/28 Insider Buying Report: DVA, CHK (Nasdaq.com)
At DaVita, a filing with the SEC revealed that on Thursday, Chief Operating Officer, DKC Michael David Staffieri purchased 20,000 shares of DVA, at a cost of $77.70 each, for a total investment of $1.55M. Staffieri was up about 6.6% on the purchase at the high point of today’s trading session, with DVA trading as high as $82.83 at last check today. DaVita is trading up about 3.7% on the day Tuesday. And on Friday, CEO Domenic J. Dell’osso Jr. bought $246,126 worth of Chesapeake Energy, buying 3,000 shares at a cost of $82.04 a piece. This purchase marks the first one filed by Dell’osso Jr. in the past twelve months. Chesapeake Energy is trading up about 4.9% on the day Tuesday. Dell’osso Jr. was up about 9.7% on the buy at the high point of today’s trading session, with CHK trading as high as $90.03 in trading on Tuesday.
$44 Million Bet On Occidental Petroleum? 3 Stocks Insiders are Buying (Benzinga)
Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett acquired a total of 794,389 shares at an average price of $55.39. To acquire these shares, it cost around $44 million. Consumer Portfolio Services: The Trade: Consumer Portfolio Services, Inc. (CPSS) 10% owner Stephen Deckoff acquired a total of 284,312 shares at an average price of $10.42. To acquire these shares, it cost around $2.96 million.
Sebi Slaps Fine on 4 Individuals for Violations in Mindtree Share Trades (LiveMint.com)
Capital markets regulator Sebi on Monday imposed penalties totalling 4 lakh on four individuals for violation of insider trading guidelines in the shares of Mindtree. This happened during the January-March 2019 period when they were designated employees.
