Cathie Wood’s New Venture Fund Offers Access to Hard-to-Trade Assets for Just $500 (Bloomberg)
Cathie Wood’s ARK Investment Management has launched a new fund that will target harder-to-trade assets while limiting how quickly investors can cash out. The firm on Tuesday announced that its long-awaited ARK Venture Fund is now available to all US investors via an investing app called Titan. The fund will invest in private and public companies focused on tech-powered innovation, as well as other venture capital funds.
Tory Donor Says Bets Against UK Government Bonds ‘Gifts That Keep Giving’ (The Guardian)
Multimillionaire and Tory donor Crispin Odey is among the hedge fund managers cashing in on the UK’s market meltdown, saying that his bets against Britain’s government bonds were “the gifts that keep on giving”. The investor – who is known for profiting from the Brexit referendum by making similar bets – said his position against the pound had “been helpful”, adding that sterling was unlikely to gain substantial ground against rival currencies such as the dollar.
David Einhorn Poked Fun at the $100 Million Deli He Brought to Light After 3 Men Involved were Charged with Fraud (Business Insider)
David Einhorn has poked fun at the $100 million deli he brought to light last year, after three men involved with the company were charged on Monday with alleged crimes including securities fraud and market manipulation. The billionaire investor and Greenlight Capital boss first highlighted Hometown International, the owner of a single New Jersey deli, in a letter to clients last April. He noted the company had generated less than $40,000 in sales over the past two years, yet it commanded a $114 million market capitalization.
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Sharp Rise in Climate Concern for Hedge Funds, Says LGT Capital Partners’ ESG Report 2022 (Hedge Week)
The last twelve months have seen a sharp rise in the proportion of private equity and hedge fund managers addressing climate change in their ESG policies, according to a new study by LGT Capital Partners. In its tenth annual ESG Report, LGT Capital Partners finds that almost half (47%) of private equity managers are now addressing climate change through their ESG policies, an increase of 13 percentage points over the last year. Significant progress has also been made with hedge fund managers with 64% of the managers assessed now rated ‘excellent’ or ‘good’ for their ESG practices, versus 25% last year. 2021 marked also something of a milestone for LGT Capital Partners’ own hedge fund offering, with the firm able to classify its flagship discretionary hedge fund offering as an Article 8 product under the SFDR.
Aurelius Capital’s Drawdown Funds Soar in 2022 (Institutional Investor)
A little-known distressed hedge fund firm has posted strong gains this year, in part thanks to sizable gains from Russian and Ukrainian paper. Aurelius Capital Management’s new drawdown funds – Aurelius Long-Term Opportunities Fund (International) and Aurelius Long-Term Opportunities Fund (U.S.) – which began investing at the beginning of 2022…
How Much of an ESG Risk is Crypto? (Preqin)
GHG emissions are a key risk exposure in crypto as fintech boosts its presence in the volatile asset, yet still pose less threat than other polluters. Even when drilling down into the fintech and cryptocurrency components of the financial services industry, their added risk exposure still ranks low on a global scale. Industries like oil & gas, materials, logistics, and even healthcare, show higher average overall ESG risk exposure metrics. However, when going into these asset classes, investors understand the possible risks.
Capital Four Surges Past Its Fund Target to Reach $1.45bn for a New Debt Vehicle (Opalesque.com)
Credit asset management boutique Capital Four has hauled in €1.5 billion ($1.45bn) for the final close of its third private debt fund, exceeding its initial €1 billion target. According to a media statement from the financial institution in Copenhagen, Denmark, Capital Four Private Debt III – Senior has well-received commitments from new and long-standing investors and capital being raised from insurance companies, endowments as well as pension funds. “With a deployment rate of more than 90% at the hard close, the Fund was deployed ahead of schedule, allowing the successor fund (Private Debt V – Senior) to launch earlier than planned during the summer,” said the credit asset management boutique.
The Hedge Fund That Shook Up Microsoft Holds 2 High-Yielding Stocks Offering Buybacks (Benzinga)
ValueAct Capital has approximately $13.2 billion in assets under management. Recall in 2013 when the firm’s founder, Jeff Ubben, became the first activist investor to land a board seat at Microsoft (MSFT). Then-CEO Steve Ballmer left a week after this move. Ubben has since left ValueAct, but it’s worth taking note of the high-yielding stocks the fund has for investors to consider.
CEO of $4,500,000,000 Crypto Hedge Fund Says Bitcoin Will Go up a Ton, but Other Projects Will Outperform (The Daily Hodl)
Pantera Capital CEO Dan Morehead says that although he sees Bitcoin’s (BTC) value increasing, its share of the cryptocurrency market will decline over time as he expects other digital assets to outperform it. During this month’s SALT New York conference, Morehead says he’s long-term bullish on Bitcoin but notes that other crypto assets have better upside potential.
Tuesday 9/27 Insider Buying Report: OIS, HIW (Nasdaq.com)
At Oil States International, a filing with the SEC revealed that on Friday, EVP, Chief Operating Officer Philip Scott Moses purchased 58,624 shares of OIS, at a cost of $3.63 each, for a total investment of $212,654. So far Moses is in the green, up about 7.2% on their buy based on today’s trading high of $3.89. Oil States International is trading up about 5% on the day Tuesday. And on Thursday, CEO Theodore J. Klinck purchased $141,252 worth of Highwoods Properties, purchasing 5,000 shares at a cost of $28.25 a piece. Highwoods Properties is trading up about 0.2% on the day Tuesday. Investors have the opportunity to pick up HIW even cheaper than Klinck did, with the stock trading as low as $26.41 in trading on Tuesday which is 6.5% under Klinck’s purchase price.
Director of Braze Makes $3.76M Buy (Benzinga)
Matthew Jacobson, Director at Braze (BRZE), reported a large insider buy on September 26, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Jacobson purchased 110,650 shares of Braze. The total transaction amounted to $3,763,832.
