Hedge Fund Ancora Seeks Ouster of Kohl’s CEO, Chairman (Reuters)
Sept 22 (Reuters) – Ancora Holdings, one of the hedge funds that spearheaded a board shake-up last year at Kohl’s Corp, is now pushing for the removal of the U.S. retailer’s chief executive and board chairman, according to a letter sent to the company on Thursday. The move marks the beginning of a new round of shareholder unrest for Kohl’s after the company explored a sale and decided in July to remain independent, leading to a plunge in its shares and disappointing investors who had pushed for a deal.
TA Associates Wraps Up its Fifth Debt Fund at Over $1.1bn (Opalesque.com)
TA Associates, a global growth private equity firm, has closed its fifth debt fund at more than $1.1 billion, beating its $600 million target. TA Debt Fund V is significantly larger than its predecessor fund, TA Subordinated Debt Fund IV, which closed at $542 million, said a media release from the early modern-era PE firm in the United States, which invests in technology, healthcare, financial services, consumer, and business services. TA has raised $48.6 billion in the capital since its founding in 1968.
Despite Typical Advice To Diversify, Concentrated Funds Of Funds Outperform Diversified (Forbes)
The first half of 2022 was not good for funds of hedge funds, especially those with highly diversified portfolios holding more than 50 positions. Additionally, there was a wide dispersion in performance among funds of funds, with the top 10th percentile returning 10.81% and the bottom 10th returning -23.09% for the first six months. Funds of hedge funds in the red for the first six months of 2022: Amid the wide dispersion in fund returns, only 35% overall of the funds of funds administered by Citco generated positive returns for the first six months of 2022.
Acuiti Launches Systematic Hedge Fund Expert Network (Markets Media)
Acuiti launches Systematic Hedge Fund Expert Network London 22 September, 2022: Acuiti today launches its Systematic Hedge Fund Expert Network, the latest in its series of derivatives-focused networks of senior market executives. Acuiti Expert Networks provide a virtual forum through which senior executives in a given market can gauge sentiment and benchmark approaches to common challenges.
Thursday 9/22 Insider Buying Report: NXDT, VOXX (Nasdaq.com)
At Nexpoint Diversified Real Estate Trust, a filing with the SEC revealed that on Wednesday, Director Arthur B. Laffer bought 6,762 shares of NXDT, for a cost of $14.79 each, for a total investment of $100,010. Bargain hunters can grab NXDT at a price even lower than Laffer did, with the stock changing hands as low as $14.56 in trading on Thursday — that’s 1.6% below Laffer’s purchase price. Nexpoint Diversified Real Estate Trust is trading off about 0.6% on the day Thursday. And at Voxx International, there was insider buying on Monday, by CEO Patrick M. Lavelle who purchased 12,100 shares for a cost of $7.37 each, for a total investment of $89,159.
$10 Million Bet On NortonLifeLock? 4 Stocks Insiders Are Buying (Benzinga)
The Trade: NortonLifeLock Inc. (NLOK) President Ondrej Vleck acquired a total of 456,475 shares an average price of $21.91. To acquire these shares, it cost around $10 million. CNA Financial: The Trade: CNA Financial Corporation (CNA) 10% owner Loews Corp acquired a total of 204,697 shares at an average price of $38.88. To acquire these shares, it cost around $7.96 million.
