Regal Funds to Ttake on US Market (AFR.com)
The ink’s barely dry on Regal Funds Management’s agreement to acquire VGI Partners, and already the country’s busiest hedge fund manager appears to be thinking about other opportunities. True to form, the fast-moving Regal Funds is understood to be sending its local head of trading, young gun Campbell Chambers, to New York to begin to build the firm a US presence.
Dmitry Balyasny’s Firm Roars Back From Depths of 2018 Retreat (Bloomberg)
His hedge fund rose 7% through April as broader market slumped. Firm taking more institutional money, expanding macro strategy. There’s a shaft of snow and rock in the Grand Tetons called Corbet’s Couloir, where extreme skiers go to test their mettle and others line the precipice to watch. Dmitry Balyasny named his new equities operation Corbets Capital after that famous Wyoming run.
Steve Cohen’s Secret Weapon for the Mets: His Hedge Fund (LiveMint.com)
In the 18 months since billionaire hedge-fund manager Steve Cohen bought the New York Mets, the baseball world has wondered how the sport’s wealthiest owner would use his vast resources and financial acumen to fix a historically hapless organization. The answer was both simple and revolutionary: He brought his hedge fund to the Mets-literally.
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A Top Hedge Fund Manager Admits His Tech Mistakes and Says Recession Is Already Here (Barron’s)
A well-known technology hedge fund manager is licking his wounds and preparing for difficult times ahead. On Thursday, Altimeter Capital founder Brad Gerstner admitted he got the stock market wrong in 2022 and believes the economy is undergoing a slowdown. “If you owned growth stocks this year—like we did at Altimeter—you got your face ripped off,” he wrote on Twitter. “Markets moved fast—we moved too slow.”
ADDX, Temasek’s Fullerton partner to tokenize PE fund of funds (Opalesque)
Singapore-based private market exchange ADDX has partnered with Temasek subsidiary Fullerton Fund Management to list Fullerton’s private equity fund of funds (FOF) on its digital platform. The Fullerton Optimized Alpha Fund is a closed-end fund targeting 8% to 12% in returns per annum over its seven-year fund life, said a press release from Fullerton Fund Management Company, a subsidiary of Temasek, which is a Singaporean state holding company.
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.
