Chase Coleman’s Tiger Global Is Slashing the Value of Its Venture Holdings by 24% (Bloomberg)
Tiger Global Management marked down the value of its private funds by almost a quarter this year, contributing to a $42 billion decline in assets, one of the industry’s biggest ever. In addition, some of the previously private but now-public companies held by Tiger Global’s venture unit lost value, according to people familiar with the matter. A representative for Chase Coleman’s New York-based firm declined to comment.
ION Discussing Earn-Out Price Clause with DK in Prelios Deal (Reuters)
ION, a privately-held financial technology group, is looking to pay for Italian bad loan recovery firm Prelios in several stages as it holds discussions with U.S. hedge fund Davidson Kempner Capital Management, sources said. The two sources close to the matter said ION and DK were discussing a so-called earn out clause, which would see ION pay part of the price at closing and the rest once the business hits certain financial targets.
Google to Lay Off 10,000 Employees Based on Performance: Report (HindustanTimes.com)
Hedge fund billionaire, Christopher Hohn, has written a letter to Google parent company – Alphabet advising to cut the number of employees in the company. The UK investor has also reportedly said that the company pays excessively to its employees as compared with other digital companies. Tech behemoth Google is planning to implement a performance improvement plan that will eventually lead to layoffs of 10,000 employees. According to a report from Hindustan Times sister publication LiveMint, employees who ‘score low’ will be asked to resign.
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Rowan Dean’s ‘Hollywood Pitch’ About a ‘Woke’ Millennial Who Sets Up a ‘Bitcoin Hedge Fund’ (Sky News)
Sky News host Rowan Dean offers his “Hollywood pitch” about a “typical lonely geeky Millennial kid” who was born at the “cradle of wokeness and geekiness”. “This geeky guy spots an opportunity to make a killing by trading on the difference between Bitcoin in Japan and Bitcoin in America and so he sets up his own Bitcoin hedge fund,” he said.
Man AHL Launches its First Systematic Article 9 Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Man Group’s quantitative investment arm and engine, Man AHL, has launched the asset manager’s first systematic Article 9 fund. Relying on a multi-asset approach, the newly-launched fund, Man AHL TargetClimate, invests in assets aligned with the transition to a low-carbon economy. Man AHL TargetClimate is categorized as an Article 9 fund under the Sustainable Finance Disclosure Regulation (SFDR), and represents Man AHL’s first Article 9 fund, as well as Man Group’s first systematic Article 9 fund.
Brazil Hedge Fund Galapagos to Start US Fund in 2023, CIO Says (Bloomberg)
Sao-Paulo based Galapagos Capital is planning to expand its asset management business to the US next year, according to chief investment officer Sergio Zanini. The company, which has about $2.8 billion under management, will hire four portfolio managers and two research strategists to be based in Miami for a new macro fund focused on emerging markets and registered in the US, said Zanini, who oversees Galapagos’ liquid strategies for the asset management arm.
Microsoft Tops Amazon as Favourite Hedge Fund Long Position (Hedge Week)
Microsoft has replaced Amazon.com as the favourite long position for hedge funds, according to a report by Dow Jones Newswires, with Goldman Sachs analysis revealing that 82 funds now have Microsoft as a top ten portfolio holding. Amazon meanwhile, features in the top ten portfolio holdings of 79 funds according to Goldman’s analysis of 786 hedge funds with $2.3 trillion of gross equity positions ($1.5 trillion long and $730 billion short) also reveals that 79 funds have Amazon (AMZN) in their top 10 stock positions.
Global Macro Hedge Funds Dominated Q3 Amid A Wide Return Dispersion By Strategy (Forbes)
About half of hedge funds generated positive returns during the third quarter, albeit with a wide divergence by strategy. The overall weighted average return of funds administered by Citco came in at -0.63% for the quarter—a significant improvement from the weighted average loss of 6.81% recorded for the second quarter.
Pantera Capital’s Bold Bitcoin Price Prediction (Cryptopolitan.com)
The recent happenings in the crypto industry have taken a huge toll on cryptocurrency valuations. Price predictions never looked so dull. Pantera Capital is however bold in its outlook on the crypto market, particularly with its Bitcoin price prediction. Pantera Capital is the world’s largest cryptocurrency hedge fund in the world by AUM, with its headquarters in Menlopark California. Pantera Capital Bitcoin price prediction: Pantera’s technical price prediction takes into consideration the money supply function of Bitcoin. Satoshi Nakamoto created Bitcoin to have a total supply of 21 million with the supply of new coins dropping over time. This fact provides a fundamental aspect in predicting Bitcoin’s price.
Wednesday 11/23 Insider Buying Report: HPK, LGF.B (Nasdaq.com)
At HighPeak Energy, a filing with the SEC revealed that on Tuesday, President Michael L. Hollis purchased 43,002 shares of HPK, at a cost of $21.96 each, for a total investment of $944,443. So far Hollis is in the green, up about 5.0% on their purchase based on today’s trading high of $23.05. HighPeak Energy is trading off about 2.3% on the day Wednesday. Before this latest buy, Hollis purchased HPK on 2 other occasions during the past year, for a total cost of $136,805 at an average of $16.09 per share. And at Lions Gate Entertainment, there was insider buying on Tuesday, by Director Harry Sloan who purchased 100,000 shares at a cost of $6.40 each, for a trade totaling $640,000. Before this latest buy, Sloan made one other purchase in the past twelve months, buying $635,800 shares for a cost of $12.72 a piece. Lions Gate Entertainment is trading up about 5.1% on the day Wednesday. So far Sloan is in the green, up about 8.2% on their buy based on today’s trading high of $6.92.
Over $32 Million Bet On AMERCO? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
HireRight Holdings: The Trade: HireRight Holdings Corporation (HRT) 10% owner GAP (Bermuda) L.P. acquired a total of 554,988 shares an average price of $9.64. To acquire these shares, it cost around $5.35 million. AMERCO: The Trade: AMERCO (UHAL) President Edward J. Shoen acquired a total of 603,150 shares at at an average price of $53.80. To acquire these shares, it cost around $32.45 million.
