Algebris Alumni Launch New $200m Hedge Fund Andromeda Capital Management (Hedge Week)
Andromeda Capital Management, a new hedge fund firm launched by former Algebris Investments‘ money managers Alberto Gallo and Aditya Aney, has started trading in London, according to a report by Bloomberg. In an interview with Bloomberg, the duo said the fund has secured $200 million from an undisclosed investor and capital from the firm’s partners. The firm, which specialises in credit and rates trading, is reportedly looking to grow assets to more than $1 billion. The new firm, one of the largest hedge fund start-ups in Europe this year in an admittedly quiet year for launches, will employ a strategy that will look to take advantage of market volatility as central banks act to curb inflation.
Hedge Fund Boss Laffont Says Coatue Still Mostly in Cash, Sees Stock Woes Ahead (Bloomberg)
Philippe Laffont’s Coatue Management has kept the majority of its assets in cash after slashing its hedge fund’s equity market exposure earlier this year, and he expects stocks to fall much further. The firm now has 70% to 80% of its assets in cash, Laffont said Tuesday at the Robin Hood Investors Conference in New York, according to people who heard his remarks. The event was closed to the media.
Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here’s What The Billionaire Hedge Fund Manager Says Is Coming Next (TheEpochTimes)
Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession. What Happened: Jones, founder and chief investment officer of Tudor Investment, warned the U.S. economy is headed for a recession if it’s not already in the midst of one Monday on CNBC’s “Squawk Box.” “The Federal Reserve board is fighting something it hasn’t seen really in almost four decades,” Jones said.
Alphabet, Twitter And This Technology Stock Insiders Are Selling (Benzinga)
Alphabet: The Trade: Alphabet Inc. (GOOG) SVP, Chief Business Officer Philipp Schindler sold a total of 76,678 shares at an average price of $100.80. The insider received around $7.73 million from selling those shares. The Trade: Atlassian Corporation PLC (TEAM) Co-CEO, Co-Founder Cannon-Brookes Michael sold a total of 8,614 shares at an average price of $237.95. The insider received around $2.05 million as a result of the transaction.
Peloton Founder John Foley and Cabal of ‘Inexperienced’ Executives He Hired – Including his Wife – ‘Made $500m in Insider Share Sales’ and Still Control the Company Despite Resigning, Lawsuit from Biggest Shareholder Claims (Daily Mail)
Peloton co-founder John Foley and a cabal of other executives he hired — including his own wife — are accused of making $500 million in insider trading before stock prices plummeted. A lawsuit submitted by Blackwells Capital LLC claims that Foley and other members of the company’s board of directors ‘profited mightily’ by selling portions of their Peloton shares ‘immediately before Peloton’s major stock price decline began.’
