Andrew Warford – The One-Time Top Stock-Picker at Lee Ainslie’s Maverick Capital – is Gearing Up to Launch His Own Fund (Business Insider)
A long-time lieutenant of billionaire Lee Ainslie is starting his own firm. Andrew Warford left Dallas-based Maverick Capital after 18 years in 2021. Sources told Insider at the time that he was starting a family office in Minnesota, where local media reports noted he owned a large lakehouse.
Ex-GoldenTree Exec Was Ousted After ‘Disgusting Sexual Comments,’ Report Says (The Daily Beast)
GoldenTree Asset Management’s longtime chief operating officer was reportedly ousted from the company after complaints of “disgusting sexual comments” and a relationship with a subordinate. Citing court documents, Business Insider reports William Christian, who worked at the hedge fund from 2004 to 2020, was known to subject “employees to in-person meetings and conversations while his pants were pulled down to his ankles.” He was also said to have hurled “frequent and gratuitous insults” and to have shown “at least one subordinate a picture of his exposed genitals” prior to his 2020 departure, creating a “hostile work environment.”
Howard Marks is Not as Worried as Other Notable Investors. Here’s Why (CNBC)
Recession worries have grown prevalent on Wall Street as the Federal Reserve hikes rates aggressively to combat high inflation, but Oaktree Capital Management’s Howard Marks isn’t as pessimistic as other notable investors.
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Kindred Shareholder Urges Swedish Gaming Group to Consider Sale (Reuters)
May 4 (Reuters) – Swedish online gaming group Kindred’s (KINDsdb.ST) shares rose 5% on Wednesday after a major shareholder told the board to consider a sale of the company. New York-based hedge fund Corvex Management, which holds more than 10% of Kindred shares, said it had urged the board to hire a financial adviser to look at strategic alternatives, including the potential value that could be achieved via sale or a business combination.
Scotiabank Canadian Hedge Fund Index Down 0.06% on an Asset-Weighted Basis in March (Hedge Week)
The Scotiabank Canadian Hedge Fund Index ended March 2022, down -0.06% MOM on an asset-weighted basis and up 0.66% MOM on an equal-weighted basis. The Scotiabank Canadian Hedge Fund Index provides a comprehensive overview of the Canadian Hedge Fund universe. The comparable benchmark indices were both up for the month, with the S&P TSX 60 Total Return Index and S&P 500 Total Return Index posting increases of 3.80% and 3.71% respectively.
Greenlight Re Takes Q1 Loss on Russia Exposures (Reinsurancene.ws)
Hedge fund-backed reinsurer Greenlight Re has reported a net loss for the first quarter of 2022, as its investment income was offset by an underwriting loss driven by exposure to the conflict between Russia and Ukraine. Greenlight-ReThe company booked a net loss of $5.7 million last quarter, compared to net income of $6.5 million for the same period last year. Investment income fell from $18.7 million to $7.7 million during this time, and Greenlight Re’s underwriting loss also widened from $2.0 million to $7.7 million.
