Tory Donor Chris Rokos Makes a Fortune from Market Turmoil (The Times)
Chris Rokos, the billionaire financier and Conservative Party donor, is among a network of top hedge fund managers who have reaped huge returns during the crisis gripping the financial markets. Rokos, 52, whose Rokos Capital Management is one of the world’s biggest macro hedge funds with $14.5 billion in assets, is said to have been running a bet that UK borrowing costs will have to rise.
UK Names Billionaire Michael Hintze on List of 26 New Life Peers (Bloomberg)
The UK said billionaire hedge fund manager Michael Hintze is among 26 people nominated to take up seats in the House of Lords. Hintze was among 13 nominees from former Prime Minister Boris Johnson that also included five former Tory MPs: Winston Churchill’s grandson Nicholas Soames, Angie Bray, Graham Evans, Stewart Jackson and Hugo Swire.
Star Chinese Macro Hedge Fund Predicts Bull Market for China Stocks (Hedge Week)
Chinese macro hedge fund Shanghai Banxia Investment Management Center has called the bottom of the country’s stock rout and predicted that the country is on the verge of a bull market. The report cites an investor letter as revealing that the firm, which manages more than 10 billion yuan（$1.4 billion), has rebuilt net-long positions in the mainland-traded A-share market to 40% as of the end of last month. The firm, which is run by founder Li Bei, had reportedly maintained a low level of exposure since June before adding to its holdings last month.
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Bridgewater is Famous for Giving Brutally Honest Feedback in Real Time. It’s Co-CEO Explains How the Hedge Fund is Shaking Up Its Notorious Culture. (Business Insider)
Bridgewater Associates‘ co-CEO Nir Bar Dea is looking to make some changes to its controversial culture as founder Ray Dalio takes a step back. “The ideas are different,” Dea said speaking at the Bloomberg Invest event Wednesday. “What we’re going to pursue is different. How we’re going to evolve that culture is different. How we go about those fundamentals are different, the hunger is different, the energy is different.”
Why Former GME Bull Tiger Global Is in Big Trouble (The Street)
Hedge fund Tiger Global has lost more than 52% this year. Its long-only fund is even worse, down 66% year-to-date. Tiger Global had a sizable stake in GameStop a few years ago. But it ended up selling its long position in GME at a loss. Why Is Tiger Global in Deep Trouble? This year has been terrible for hedge fund Tiger Global, which focuses on technology, software, consumer, and fintech companies. The fund, which The Wall Street Journal has identified as one of the “largest ever,” has already lost about two-thirds of its accrued value since its creation.
Lynx Stays True to Main Objective (Hedge Nordic)
Stockholm (HedgeNordic) – Many trend-following strategies have flourished in 2022 amid a persistence of larger trends across several asset classes. The most successful trend followers have made their returns by being on the right side of the market trends in bonds and energies. Lynx Asset Management’s trend-following program has been on the right side of trends everywhere after amassing gains in every traded sector.
Sunstone Partners Raises $925m for Fund III (Opalesque.com)
Sunstone Partners, a growth equity firm based in San Mateo, California, announced the final institutional close of its oversubscribed $925m third fund, Sunstone Partners III, at its hard cap. The company specializes in growth equity investments in technology-enabled services said in a press release that Fund III, which more than doubles the total committed capital managed by Sunstone Partners, is the firm’s largest fund to date and brings total committed LP capital to $1.7B since inception in 2015. According to the release, Sunstone Partners received strong support from its existing investor base of leading endowments, foundations, family offices, fund-of-funds, and pension funds, while also adding several new institutional investors.
BlockTower Putting $150M Crypto Fund to Work as Valuations Return ‘Down to Earth’ (Coin Desk)
Crypto asset manager BlockTower Capital revealed a new venture-capital arm this week and lifted the veil on a $150 million fund that opened in December and was fully subscribed in a matter of weeks. What motivated one of the original crypto-native asset-management brands to enter the VC world, and what will those investments look like amid crypto winter?
Friday 10/14 Insider Buying Report: PLAY, NEOG (Nasdaq.com)
At Dave & Busters Entertainment, a filing with the SEC revealed that on Wednesday, SVP, Chief Procurement Ofc Les Lehner purchased 12,154 shares of PLAY, for a cost of $32.81 each, for a total investment of $398,741. Lehner was up about 7.0% on the buy at the high point of today’s trading session, with PLAY trading as high as $35.10 at last check today. Dave & Busters Entertainment is trading up about 0.6% on the day Friday. And on Tuesday, CFO Steven J. Quinlan purchased $58,150 worth of Neogen, purchasing 5,000 shares at a cost of $11.63 a piece. Neogen is trading down about 1.3% on the day Friday. Quinlan was up about 5.3% on the purchase at the high point of today’s trading session, with NEOG trading as high as $12.25 at last check today.
$20 Million Bet On Rocket Pharmaceuticals? 3 Stocks Insiders Are Buying (Benzinga)
Earthstone Energy: The Trade: Earthstone Energy, Inc. (ESTE) 10% owner Cypress Investments LLC acquired a total of 1,000,000 shares an average price of $14.75. To acquire these shares, it cost around $14.75 million. Rocket Pharmaceuticals: The Trade: Rocket Pharmaceuticals, Inc. (RCKT) Director Roderick Wong acquired a total of 1,355,932 shares at an average price of $14.75. To acquire these shares, it cost around $20 million.
