Mid-Market Credit Opportunities to Accelerate (Preqin)
Christian Brehm, CEO of FC Capital, shares the latest trends in Australia’s private debt market and how his firm manages risks. What are some key trends in Australia’s private debt market today? Tighter lending guidelines imposed by the Australian Prudential Regulation Authority (APRA) on the major banks have caused them to retreat from the small and mid-market segment in Australia, opening new markets for credit investments. Although there was a temporary pause in deal flow from March 2020 to January 2021 due to COVID-19, Australia’s private debt market has grown quickly since January 2021 in terms of capital inflows and deployment opportunities.
Hedge Funds Suffer in Volatile Market, But Outpace Other Benchmarks (Hedge Week)
April was a difficult month in the financial markets, with the aggregate industry return at -1.68% for the month, dragging year to date (YTD) returns further into the red at -2.59%, according to the April 2022 eVestment hedge fund performance data. However, the hedge fund business still performed better than many other industry benchmarks and among those funds that did perform well, some performed exceptionally well.
Schroders, BlackRock, Pimco Face Losses as Adler’s Troubles Grow (Bloomberg)
A Wall Street bank and some of the world’s largest money managers stand to lose hundreds of millions of euros in the crisis that’s rocked the world of German real estate. Around 7.5 billion euros ($7.9 billion) of debt held in part by Schroders Plc, Pacific Investment Management Co LLC, Morgan Stanley, and BlackRock Inc. hangs in the balance after a series of dramatic developments ripped through the German landlord Adler Group SA and its web of interconnected real estate firms following accusations of wrongdoing at the company.
BlackRock And Citadel Deny Trading Cratering Stablecoin (Forbes)
Asset manager BlackRock and hedge fund giant Citadel Securities have denied trading the troubled TerraUSD (UST), in separate emails sent exclusively to Forbes. The comments come on the back of rapidly spreading rumors the financial giants had jointly borrowed 100,000 bitcoin (worth about $3 billion at today’s price) from cryptocurrency exchange Gemini to purchase UST, only to dump the assets causing the market to collapse and wiping out more than $25 billion in the underlying LUNA market value.
SS&C GlobeOp Hedge Fund Performance Index and Capital Movement Index (PRNewswire)
WINDSOR, Conn., May 12, 2022 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that the gross return of the SS&C GlobeOp Hedge Fund Performance Index April 2022 measured -0.88%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.22% in May. “SS&C GlobeOp’s Capital Movement Index for May 2022 rose 0.22%, indicating positive net inflows into funds, though slightly lower than the 0.32% gain reported for the same period a year ago,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Consistent with recent trends, investors in May maintained their allocations to hedge funds in the face of a variety of market concerns, including higher interest rates and inflation, international tensions, and supply chain disruptions from COVID-19.”
Thursday 5/12 Insider Buying Report: EVA, HLF (Nasdaq.com)
At Enviva, a filing with the SEC revealed that on Tuesday, Director John C. Bumgarner Jr. bought 13,600 shares of EVA, for a cost of $73.13 each, for a total investment of $994,540. Bargain hunters have the opportunity to bag EVA even cheaper than Bumgarner Jr. did, with the stock changing hands as low as $64.05 at last check today which is 12.4% below Bumgarner Jr.’s purchase price. Enviva is trading off about 0.9% on the day Thursday. Before this latest buy, Bumgarner Jr. made one other purchase in the past year, buying $1.5M shares for a cost of $45.50 each. And at Herbalife Nutrition, there was insider buying on Wednesday, by President John Desimone who bought 43,478 shares at a cost of $21.54 each, for a total investment of $936,516.
