Hedge Funder Donald Sussman Sells Waterfront Fort Lauderdale Lot for $17M (The Real Deal)
Hedge funder Donald Sussman sold a waterfront lot in Fort Lauderdale for $17 million to a Texas-based aerospace executive in an off-market deal. The Laguna Property Trust sold the 0.7-acre lot at 2401 Laguna Drive to Arrowhead Hillcountry Investments, a Texas LLC managed by Edward J. Chalupa, records show. Chalupa is the president of Advanced Integration Technology, a Plano, Texas-headquartered aerospace company. Sussman is founder and chief investment officer of Paloma Partners, a hedge fund based in Greenwich, Connecticut.
Dubai Court Rules to Extradite Hedge Fund Sanjay Shah to Denmark (BNN Bloomberg)
The Dubai Court of Appeal has ruled to extradite British hedge-fund trader Sanjay Shah to Denmark on alleged fraud and money laundering crimes, overturning an earlier decision. Danish prosecutors have alleged that Shah was the mastermind behind a $1.9 billion scam involving a global network of bankers, lawyers and agents who illegally sought refunds on dividend taxes they never paid, on stocks they never owned. Shah has consistently maintained his innocence. The other parties in the case include Shah’s wife, Usha, and his firm Solo Capital Partners Ltd.
Hedge Funds Down 0.09% in November, Says SS&C GlobeOp Index (Hedge Week)
The SS&C GlobeOp Hedge Fund Performance Index measured -0.09%, for November, according to the latest figures from SS&C Technologies Holdings. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index meanwhile, advanced 0.37% in December. “SS&C GlobeOp’s Capital Movement Index was up 0.37% for December 2022, continuing a trend of stabilisation from November. The trailing 12-month average of 0.03% marks the second consecutive calendar year of positive flows,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
Rawpixel / shutterstock.com
Hedge Fund Veteran Mark Yusko Warns of Imminent ‘Sinister’ Threat to Crypto Industry (The Daily Hodl)
Morgan Creek Capital CIO Mark Yusko says that the crypto industry is facing a sinister threat that investors may want to watch out for. In a new interview with Blockworks, the crypto veteran says that the digital assets space is at the phase where it – like other groundbreaking inventions before it – faces aggressive opposition from those in power.
Hedge Funds Experienced a Tough Year, But AUM Hits $4.1tn (Opalesque.com)
Hedge funds AUM stands at $4.1tn as of September 2022, which represents a 4.8% reduction since the end of 2021, said a study. According to Preqin Global Report 2023: Hedge Funds, hedge funds experienced a tough year, but managed to bring value to portfolios. Hedge funds endured a tough first half as net capital outflows totaled $24.3bn, and the outflows continued in Q3 (-$31bn). The negative performance, along with the outflows, pushed the industry’s total assets under management (AUM) down in 2022.
Ex-Soros CIO Bessent Leads Key Square to 30% Gain on Yen Bet (Bloomberg)
Scott Bessent, a former Soros Fund Management investing chief, posted a 30% gain in his macro hedge fund this year through Tuesday — and he told clients he’s betting on a rising yen, gold and oil in 2023. The Bank of Japan’s surprise decision to widen the yield curve control band for 10-year government bonds marked a “seminal moment for global monetary policy and financial market liquidity,” Bessent, 60, told clients of his Key Square Capital Management in a Dec. 20 letter.
Investors Widely Prefer Small Private Equity And Hedge Funds (Forbes)
At a time when investors and fund managers have struggled to find returns, some corners of the alternative asset space have held up better than other areas of the markets, like public equities. As a result, it should be no surprise that institutional investors are planning to boost their allocations to alternative assets. However, one interesting finding from a recent survey is that smaller hedge funds and private equity funds with less than $250 million in assets under management are in demand.
Thursday 12/29 Insider Buying Report: VRAR, HSON (Nasdaq.com)
At Glimpse Group, a filing with the SEC revealed that on Tuesday, Director Lemuel Amen bought 38,189 shares of VRAR, at a cost of $2.88 each, for a total investment of $110,020. Investors can grab VRAR even cheaper than Amen did, with shares trading as low as $2.61 at last check today which is 9.3% under Amen’s purchase price. Glimpse Group is trading up about 3% on the day Thursday. Before this latest buy, Amen bought VRAR on 4 other occasions during the past year, for a total investment of $152,965 at an average of $3.66 per share. And on Wednesday, Chief Executive Officer Jeffrey E. Eberwein purchased $70,831 worth of Hudson Global, purchasing 3,000 shares at a cost of $23.61 each. Before this latest buy, Eberwein purchased HSON on 21 other occasions during the past year, for a total investment of $903,664 at an average of $29.77 per share.
$5.5 Million Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Terns Pharmaceuticals: The Trade: Terns Pharmaceuticals, Inc. (TERN) 10% owner Vivo Capital Surplus Fund VIII, L.P. acquired a total of 758,620 shares an average price of $7.25. To acquire these shares, it cost around $5.5 million. HighPeak Energy: The Trade: HighPeak Energy, Inc. (HPK) CEO Jack Hightower bought a total of 50,000 shares at an average price of $21.91. To acquire these shares, it cost around $1.1 million.
Director Kent Puckett Just Sold Off Mullen (MULN) Stock (InvestorPlace.com)
Mullen Automotive (MULN) held a shareholder meeting to decide on a possible reverse stock split, but that meeting was adjourned without a vote taken. An SEC form indicates that a director at Mullen sold off his entire stake in the company. MULN stock opened 8% higher this morning. Today’s traders have a lot to consider when it comes to electric vehicle (EV) manufacturer Mullen Automotive (NASDAQ:MULN).
