Hedge Fund Billionaire Sir Chris Hohn Paid Himself ‘£1.5m a Day This Year’ (The Guardian)
The billionaire hedge fund manager Sir Chris Hohn paid himself a record-breaking $690m (£574m) this year after his Children’s Investment (TCI) fund recorded a a surge in profits. The payout from the Mayfair-based hedge fund, where the prime minister, Rishi Sunak, worked between 2006 and 2009, is the biggest ever collected by Hohn and believed to be the highest annual amount ever paid to one person in Britain. It equates to more than £1.5m a day.
Hedge Fund Engine Capital Urges Univar to Consider Sale, Other Options (Reuters)
Nov 30 (Reuters) – U.S. hedge fund Engine Capital on Wednesday urged Univar Solutions Inc (UNVR.N) to consider a sale or other strategic options, days after Germany’s Brenntag SE (BNRGn.DE) said it was in preliminary talks to buy the chemicals distributor. Engine Capital, which owns about 1% of Univar, said in an open letter that the bid by Brenntag confirms its view that the company is “undervalued” and a “highly attractive acquisition target”.
A Hedge Fund That Saw Returns Of Over 20% Is Holding On To These 2 Marine Shipping Stocks With Soaring Yields (Benzinga)
Oaktree Capital Management saw a one-year return of roughly 22.8% last year, according to Stock Circle, and has a total portfolio value north of $9 billion. The company was co-founded in 1955 by co-Chairman Howard Marks and as of Sept. 30, 2022, it had more than $163 billion in assets under management through its diversified mix of global investment strategies in four categories: credit, private equity, real assets and listed equities.
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Millennium, Balyasny, Point72 Among Firms on Asia Hiring Spree (Hedge Week)
Multi-strategy hedge funds including Millennium Management, Balyasny Asset Management, and Point72 Asset Management are recruiting staff at breakneck pace in Asia as market volatility prompts investors to look to firms that employ multiple strategies rather than single managers, according to a report by Bloomberg. The report cites an unnamed source as saying that Izzy Englander’s $59 billion Millennium has doubled its Asia headcount over the past three years, more than 50 investing teams operating in the region. And the firm reportedly still has an additional 45 investing and operational position to fill in Asia-Pacific outside of India.
Crypto Hedge Funds Burned by FTX Seek Wall Street-Style Middlemen (Bloomberg)
Before it collapsed, FTX was a favorite in the world of professional crypto traders, with frenzied volumes, derivatives on steroids and a simpatico founder who got his start at storied Wall Street trading house Jane Street. Now with millions lost on the bankrupt platform, its former fans are fighting for survival, writing off sizable chunks of their portfolios and facing an existential dilemma: Should they trust any crypto exchange at all?
David Tepper Stock Portfolio: Top 5 Stock Picks (Insider Monkey)
Below we analyze the David Tepper Stock Portfolio: Top 5 Stock Picks. For our methodology and a more comprehensive list of Tepper’s top stock picks, check out David Tepper Stock Portfolio: Top 10 Stock Picks. 5. Energy Transfer LP (NYSE:ET): Value of Appaloosa Management‘s 13F Position: $113 Million. Number of Hedge Fund Shareholders: 33.
Quarterly Hedge Fund Strategies Show Mixed Results (Pensions&Investments)
Global macro, event-driven, and commodity hedge fund strategies had weighted average third-quarter returns of 4.1%, 3.7% and 3%, respectively, based on funds administered by Citco Group. Almost three-quarters, or 74%, of event-driven funds had a positive return. Multistrategy, fixed-income arbitrage and equities had negative returns.
A Billionaire Hedge Fund Manager and a Famous Rapper Look at Capitalism the Same Way: An Opportunity to ‘Even that Playing Field’ in the Business World (Fortune)
Musicians today are carrying forward the genre’s tradition of speaking out on the perils of social inequality and the importance of helping their communities, but some think of capitalism as one of the most effective tools to do so. Michael “Killer Mike” Render counts himself as one of those artists. The Atlanta-born, Grammy Award-winning rapper and activist has been making waves in civil rights and social justice movements in recent years, speaking out against police brutality towards African Americans and criticizing systemic racism.
Wednesday 11/30 Insider Buying Report: MOFG, DDD (Nasdaq.com)
On Tuesday, MidWestOne Financial Group’s Chief Executive Officer, Charles N. Reeves, made a $856,738 purchase of MOFG, buying 24,858 shares at a cost of $34.47 each. MidWestOne Financial Group is trading off about 0.7% on the day Wednesday. And on Monday, CEO Jeffrey A. Graves bought $192,000 worth of 3D Systems, buying 20,000 shares at a cost of $9.60 a piece. Before this latest buy, Graves made one other buy in the past year, purchasing $106,480 shares at a cost of $10.50 each. 3D Systems is trading up about 4.2% on the day Wednesday.
$10 Million Bet On Canoo? Check Out These 3 Stocks Under $3 Insiders Are Buying (Benzinga)
Canoo: The Trade: Canoo Inc. (GOEV) Director, Executive Chairman and CEO Tony Aquila acquired a total of 9,009,009 shares at an average price of $1.11. To acquire these shares, it cost around $10 million. NeuroPace: The Trade: NeuroPace, Inc. (NPCE) 10% owner Accelmed Partners II L.P. acquired a total of 390,291 shares at at an average price of $1.50. The insider spent around $585.05 thousand to buy those shares.
PayPal, Netflix Top the List of Hedge Fund Favorites (Institutional Investor)
PayPal Holdings and streaming giant Netflix attracted the largest number of new hedge fund investors in the third quarter.At least 54 hedge funds established new positions in PayPal, while just 21 fully exited, for a net gain of 33 hedge fund investors, according to an analysis of the data from…
CFTC Charges Former Broker with Paying Brokerage Kickbacks and Misappropriating Nonpublic Information (HedgeCo.net)
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Lee Tippett, a former broker with Classic Energy, LLC, for participating in a scheme to pay kickbacks to Matthew Clark, a trader employed by one of Classic’s brokerage customers. The order finds Tippett made these kickback payments to Clark in exchange for Clark sending more brokerage business from his employer to Classic. According to the order, Tippett also participated in a scheme to misappropriate confidential block trade order information from the same Classic customer, facilitated fictitious trades, and made false statements to ICE Futures US.
