As Brevan Howard’s Gains Mount, Founder Cuts Back On Trading (BNN Bloomberg)
(Bloomberg) — The Alan Howard era at Brevan Howard Asset Management appears to have come to an end. The veteran investor, whose macro trading prowess made him a billionaire, is no longer managing a significant amount of money for the firm, according to people with direct knowledge of the matter. While Howard had already transitioned out of the day-to-day running of the firm in 2019, he was still managing his own fund, some client money and about a 10th of the capital in the firm’s main strategy as recently as last year.
Protean Select is Going Live (Hedge Nordic)
Stockholm (HedgeNordic) – A new fund is joining the Nordic hedge fund arena in early May. Founded and managed by Pontus Dackmo and Carl Gustafsson, Protean Select is a long-biased equity hedge fund set to launch on May 2, shortly after the Swedish Financial Supervisory Authority approved its fund prospectus. “Here we go! Protean Select is launching on the 2nd of May,” Pontus Dackmo announces on LinkedIn. “Visualizing that 20-year track record laid out ahead, it’s fun to ponder it starts at a single point.
Greenlight’s Einhorn Says Inflation Could Surge Even More. Here is How He’s Hedging Surging Prices (CNBC)
Greenlight Capital’s David Einhorn said inflation could still surprise to the upside, even with the Federal Reserve tightening monetary policy. The star hedge fund manager revealed Tuesday in an investor letter that his firm has added a number of new positions to hedge against surging prices during a market-beating quarter for Greenlight.
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Mainsail Partners Raises $915m for Fund VI (Opalesque)
San Francisco-based investment firm Mainsail Partners has raised $915 million in limited partner capital commitments for its sixth fund, the largest in the firm’s 19-year history. According to a press release from the growth equity firm that seeks to invest in rapidly growing, bootstrapped software companies, the new fund, Mainsail Partners VI, was oversubscribed and closed in less than three months, bringing the total capital commitments raised by the firm to more than $2.2 billion.
Preqin Quarterly Update: Hedge Funds, Q1 2022 (Preqin)
Hedge funds in Q1 2022 were buffeted by rises in inflation rates, changes in monetary policy, geopolitical tensions and soaring energy prices. While overall hedge fund performance declined this quarter, they were still able to partially shield investors from the volatility. Within the asset class, performance was mixed, with equity strategies lagging behind, while macro strategies and CTAs delivered positive results in each month of Q1 2022. Getting the allocation strategy right is critical to obtaining the best performance from hedge fund investments. Preqin Pro data reveals that the number of investors intending to allocate more capital to larger fund sizes in the coming year has grown since 2021, reflecting that investors understand the value that hedge funds can bring to their portfolios.
No-Drama Hedge Fund Davidson Kempner Closes In on $40 Billion (Bloomberg)
Davidson Kempner Capital Management’s investing chief doesn’t own a sports team or a gaudy mansion. He doesn’t bloviate on Twitter. And while the firm’s returns aren’t astonishing, they’re always steady. Boring, quipped one competitor, is its brand. But boring has worked just fine for DK, as the firm is known on Wall Street.
Nordic Hedge Fund Industry Report 2022 (Hedge Nordic)
Stockholm (HedgeNordic) – While Nordic hedge funds had a decent showing in 2021 and the previous three years, the new year did not start well. Despite the difficult start to 2022, the Nordic hedge fund industry is finding freshness in its life, with new launches coming up, more volatility – hence opportunities – across markets and securities to exploit and performance improvements.
Ackman’s Fund Likely Feeling the Netflix Pain as Shares Plunge (Reuters)
BOSTON (Reuters) – Three months ago hedge fund manager William Ackman cheered when Netflix’s stock price suddenly dropped, buying up 3 million shares as other investors fretted over weak subscriber growth at the streaming company. On Tuesday, the billionaire investor’s hedge fund, Pershing Square Capital Management, was likely nursing losses as Netflix shares tumbled 26% in after-hours trading after the company reported losing subscribers for the first time in a decade.
How Hedge Fund Managers Can Land a Spot on Coveted Investment Consultants’ Recommended List (Business Insider)
Hedge-fund managers might think their asset size or track record alone will get them on an investment consultant’s radar. But there are over 10,000 hedge funds overseeing a combined total of over $2.4 trillion in assets under management, according to hedge fund data provider With Intelligence, and investment consultants only allow an exclusive cadre on their coveted manager recommended lists that are shared with clients like foundations or family offices.
Wednesday 4/20 Insider Buying Report: LQDA, ZDGE (Nasdaq.com)
On Monday, Liquidia’s Director, Paul B. Manning, made a $2M purchase of LQDA, buying 392,156 shares at a cost of $5.10 a piece. So far Manning is in the green, up about 12.0% on their purchase based on today’s trading high of $5.71. Liquidia is trading up about 3% on the day Wednesday. And at Zedge, there was insider buying on Monday, by Director Mark Ghermezian who bought 4,355 shares at a cost of $5.81 each, for a total investment of $25,300. Zedge Inc is trading down about 0.8% on the day Wednesday. Ghermezian was up about 5.2% on the buy at the high point of today’s trading session, with ZDGE trading as high as $6.11 at last check today.
Executives Sell Over $740M Of 4 Stocks (Benzinga)
Callon Petroleum: The Trade: Callon Petroleum Company (CPE) 10% owner Stephen Schwarzman sold a total of 193,099 shares at an average price of $61.60. The insider received around $11.9 million from selling those shares. PG&E: The Trade: PG&E Corporation (PCG) 10% owner PG&E Fire Victim Trust sold a total of 60,000,000 shares at an average price of $12.04. The insider received around $722.4 million from selling those shares.
