Tiger Global’s Private Equity Chief to Leave After 13 Years (Bloomberg)
Lee Fixel, head of Tiger Global Management’s private equity business, is leaving the firm after more than a decade to manage his own money. Fixel, who’s a partner at the $26 billion firm, will depart on June 30, Tiger Global said in an email to investors seen by Bloomberg. Scott Shleifer will take over as head of the unit. Fixel, 39, may start his own investment firm, according to the email.
Activist Seeks Seat on Marriott’s Board (The Wall Street Journal)
Activist investor Land & Buildings Investment Management LLC is seeking a seat on the board of Marriott International Inc., according to people familiar with the matter, and believes the world’s biggest hotel company should narrow its brand portfolio among other changes. Land & Buildings, a Connecticut-based activist known for agitating for change at real-estate companies, has a small stake in the hotel chain and earlier this year nominated its founder, Jonathan Litt, to take a seat on Marriott’s board, the people…
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P&ID’s Hedge Fund purchase underscores fiscal and monetary risks to Nigeria (NairaMetrics)
A sovereign debt hedge fund is reported to have taken a 25% stake in a gas company with a US$9.0 billion claim against the Federal Government of Nigeria (FGN). If successfully applied in US court, the Nigerian Government could be forced to pay the company, P&ID, US$9.0 billion, or otherwise face freezing of US dollars. This begins to raise the question of how the Federal Government of Nigeria could reach a settlement with P&ID or, if the worst comes to the worst, finance a US$9.0 billion liability.
Building a Global Macro Strategy with Hedge Fund Advisor, Julian Brigden (DailyFX.com)
When Julian Brigden speaks, the biggest names in the market listen, and often they take notes. Julian has command of the global macro scene in a way few do or can approach. Julian and Tyler had an in-depth conversation on an ever-expanding career in global-finance where he now leads the macroeconomic research team at Macro Intelligence 2 Partners, LLC that he co-founded in 2011 and Co-Leads Real Vision’s premium offering, Macro Insiders where he was kind enough to generate a discount code for readers.
Hedge Funds Have Loaded Up on FedEx Corporation Stock, Should You, Too? (IncomeInvestors)
Compared to the high-flying tickers in the U.S. stock market, FedEx Corporation (NYSE:FDX) hasn’t been a hot commodity. Over the past 12 months, shares of this Memphis, Tennessee-based global shipping giant tumbled more than 28%. But that doesn’t mean no one’s buying it. According to the latest U.S. Securities and Exchange Commission (SEC) filings, several hedge funds have loaded up on FedEx stock. For instance, Alexander Mitchell’s Scopus Asset Management LLC increased its position in FedEx Corporation by 326% in the fourth quarter of 2018. Owning 100,000 shares, Scopus Asset Management’s stake in FDX stock is now worth around $17.6 million.
Everyone Loses in This Hedge Fund’s Game of Chicken (Bloomberg)
When no one swerves in a game of chicken, everyone gets hurt. Small investors in Britain will have U.S. hedge funds in their sights after Coltrane Asset Management LP torpedoed a restructuring plan agreed between Interserve Plc and the debt-laden government contractor’s lenders on Friday. A failed attempt to extract more than the paltry equity stake on offer to existing shareholders has left them all with nothing whatsoever.
Half of Insider-Trading Defendants Net Less Than $60,000 (The Wall Street Journal)
WASHINGTON—Insider trading evokes images of Wall Street whizzes whispering lucrative secrets, but many offenders are friends and family members of company employees who score modest illegal gains, according to new research. Half of all inside traders targeted by authorities made less than $59,000, while nearly 40% were friends and relatives of company employees who were close to market-moving information, according to a working paper by Michael Perino of St. John’s University School of Law in New York.
Friday 3/15 Insider Buying Report: FOX, ATVI (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. On Thursday, Twenty-First Century Fox (FOX)’s Executive Chairman, Lachlan K. Murdoch, made a $16.2M buy of FOX, purchasing 316,317 shares at a cost of $51.20 a piece. Murdoch was up about 1.0% on the buy at the high point of today’s trading session, with FOX trading as high as $51.72 at last check today. Twenty-First Century Fox is trading up about 0.7% on the day Friday. Before this latest buy, Murdoch made one other purchase in the past twelve months, buying $6.27M shares at a cost of $45.48 each.
Volkswagen, Former CEO Charged With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud (Hedgeco.Net)
(HedgeCo.Net) The Securities and Exchange Commission has charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims about the environmental impact of the company’s “clean diesel” fleet. According to the SEC’s complaint, from April 2014 to May 2015, Volkswagen issued more than $13 billion in bonds and asset-backed securities in the U.S. markets at a time when senior executives knew that more than 500,000 vehicles in the United States grossly exceeded legal vehicle emissions limits, exposing the company to massive financial and reputational harm.
Member of a Group Hyster-Yale Materials Handling Inc (NYSE: HY) is Selling Shares (AnalystRatings)
Today, member of a Group Hyster-Yale Materials Handling Inc (HY), Theodore Taplin, sold shares of HY for $159.2K. In addition to Theodore Taplin, 327 other HY executives reported Sell trades in the last month. This is Taplin’s first transaction since reporting a Sell transaction on NC back in June 2016.
Graco Inc. (NYSE:GGG) Insider Trading Activity – Insider Sold 90,000 shares of Stock (MarketExclusive)
Insider Trading Activity For Graco Inc. (NYSE:GGG): Dale D Johnson , Insider of Graco Inc. (NYSE:GGG) reportedly Sold 90,000 shares of the company’s stock at an average price of 47.85 for a total transaction amount of $4,306,500.00.
