Alex Lasry Drops Out of U.S. Senate Democratic Primary in Wisconsin (The Wall Street Journal)
Son of Marc Lasry, a billionaire and co-owner of the Milwaukee Bucks basketball team, had invested $12.3 million of his own money in the campaign. Alex Lasry dropped out of the Democratic primary for U.S. Senate in Wisconsin on Wednesday, a departure that could boost Lt. Gov. Mandela Barnes ahead of the Aug. 9 primary in a contest to determine Republican Sen. Ron Johnson’s challenger in November. The former Goldman Sachs analyst and son of Marc Lasry, a billionaire hedge-fund manager and co-owner of the Milwaukee Bucks basketball team, had invested at least $12.3 million of his own money in the campaign.
Citadel CEO Ken Griffin Lists Chicago Condos for $13M and $16M as He Prepares to Move his Hedge Fund to Miami (The Chicago Tribune)
Ken Griffin, the billionaire founder and CEO of hedge fund Citadel LLC who recently announced plans to relocate his firm and his family from Chicago to Miami, has begun making good on his word. Late Tuesday Griffin listed two full-floor penthouse condominium units he owns at the top of the Park Tower on North Michigan Avenue for $15.75 million and $13.25 million, respectively. Griffin had not been living in the two Park Tower units recently, although he previously did inhabit the top-floor unit. His legal residence of late has been a full-floor unit on the 37th floor of the Waldorf Astoria building on the Gold Coast, which he bought in 2014 for $13.3 million.
Wednesday 7/27 Insider Buying Report: JEF, CAG (Nasdaq.com)
At Jefferies Group, a filing with the SEC revealed that on Monday, Thomas W. Jones bought 40,000 shares of JEF, at a cost of $31.21 each, for a total investment of $1.25M. Jones was up about 2.0% on the buy at the high point of today’s trading session, with JEF trading as high as $31.82 at last check today. Jefferies Group is trading up about 1.8% on the day Wednesday. Before this latest buy, Jones made one other purchase in the past year, buying $334,800 shares at a cost of $33.48 a piece. And at Conagra Brands, there was insider buying on Monday, by Director Emanuel Chirico who purchased 30,000 shares for a cost of $34.06 each, for a total investment of $1.02M. Conagra Brands is trading down about 2.1% on the day Wednesday.
Buyout Funds Scoop Up Tech Companies in P2P Deals (Preqin)
Buyout giants make strides to bring public companies under their control, looking to unlock value and future-proof portfolios. Private equity’s appetite for taking public companies private has been strong over the past 18 months. Buyout funds are bidding high, particularly in the tech sector where software companies have been prime targets. What is motivating these moves, who is involved, and where could it go wrong? Through the first half of 2022, $96bn in public-to-private deals have been announced or completed. This is well on pace to surpass last year’s record $118bn.
Cerberus Hires Deutsche Bank to Sell Debt Collector Haya (Bloomberg)
Cerberus Capital Management, the US private equity firm, is planning to sell its Spanish debt-servicing company Haya Real Estate, according to people familiar with the matter. Cerberus, known for its investments in distressed companies, is working with Deutsche Bank AG to prepare a sale of company as soon as September, they said, asking not to be identified because talks are private.
$5.1 Million Bet On Tabula Rasa HealthCare? 3 Penny Stocks Insiders Are Buying (Benzinga)
Tabula Rasa HealthCare: The Trade: Tabula Rasa HealthCare, Inc. (TRHC) 10% owner Derek Schrier acquired a total of 1,293,292 shares at an average price of $3.97. To acquire these shares, it cost around $5.14 million.
Insider Trading Cases Are on the Rise. Credit the SEC’s Computers. (Barron’s)
It looks like the SEC has cranked up its insider-trading detectors. Federal prosecutors and securities regulators unsealed four separate insider-trading cases on Monday. Those arrested included a former U.S. Congressman, a former investment banker at Goldman Sachs Group, a Silicon Valley firm’s former information security chief, and an agent-in-training for the Federal Bureau of Investigation.
