Hedge Fund and Insider Trading News: Elliott Investment Management, Cerberus Capital Management, Astaris Capital Management, Discovery Capital Management, Evelo Biosciences, Inc. (EVLO), and More

Cerberus, SC Lowy Are Among Funds Mulling Go Airlines Loan Plan (Bloomberg)
Cerberus Capital Management and SC Lowy are among funds examining a request from India’s insolvent Go Airlines for a loan of up to 4.5 billion rupees ($54.9 million), according to people familiar with the matter. The tenor of the loan may be less than a year and it would be used to run the airline during its bankruptcy proceedings, the people said, asking not to be identified because the matter is private.

South Korea Challenges Arbitration Ruling that Found for Elliott in Samsung Merger Case (Reuters)
South Korea said on Tuesday it would challenge an arbitration ruling that ordered it to pay U.S. hedge fund Elliott Investment Management $108.5 million in a case involving the 2015 merger of two Samsung Electronics (005930.KS) affiliates. The U.S. activist fund had sued over the role played by South Korea’s National Pension Service in approving an $8 billion merger between Samsung C&T – in which Elliott was a minority stakeholder – and Cheil Industries.

Discovery Leads Macro Funds (Institutional Investor)
The Tiger Cub has benefitted from betting big on emerging markets like Argentina and Brazil. Talk about a rebound. Discovery Capital Management, the hedge fund led by Tiger Cub Robert Citrone, has surged 35 percent this year, making it perhaps the top performing macro fund this year, according to two sources, including an investor. In 2022 it was a big laggard, dropping 29 percent.

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The Best-Performing Alternative Assets Funds of FY23 (LiveWire.com)
Infrastructure, private equity, private debt, global macro and hedge funds all take a spot in this eclectic asset class. Every house has a drawer where all the stuff that doesn’t have a home ends up. That’s one way to think about the Alternative Assets bucket when investing. According to Investopedia, Alternative Assets is a financial asset that doesn’t fall into one of the conventional investment categories, such as equities and bonds. But don’t let that somewhat loose description downplay Alternatives’ role in portfolios. Over the past decade, the rise of Alternative Assets has been one of the steady trends I have observed in the local market. It is not a new asset class, and institutional investors have been allocating to ‘Alts’ for decades.

Is Cathie Woods’ Faith in Elon Musk’s Twitter Wavering? (TipRanks)
Story Highlights: Cathie Wood’s venture fund slashes its investment value in Musk-owned Twitter. Wood acquired a stake in Twitter last November. Per a Wall Street Journal report, ace hedge fund manager Cathie Wood’s venture fund slashed the value of its stake in Elon Musk’s Twitter by 47%. According to Wood, the recent markdown represents a fair valuation. Moreover, the move doesn’t change her fundamental outlook on Twitter, which is bullish. This implies that Wood continues to show faith in Musk’s ability to transform Twitter.