Falcon Edge Capital leads funding round in SME lender Of Business (VCCircle)
New York-based hedge fund Falcon Edge Capital has led an investment of $110 million (Rs 817 crore) in SME financing platform Of Business. Existing investors Matrix Partners India, Creation Investments, and Norwest Venture Partners also participated in the round which saw 73 employees and 12 angel investors sell stock worth $13 million, the Gurugram-based startup said in a statement.
Hedge Fund Balyasny on Quant and Tech Hiring Spree (eFinancialCareers)
Balyasny Asset Management, the multi-strategy hedge fund based in Chicago, has been doing some significant quantitative and technology hiring in London. The fund, which recently ranked 23rd in Fortune’s best small and medium finance workplaces list, has been busy recruiting both senior and junior staff from rivals. Dan Azzopardi joined this month as a managing director and head of macro technology from Rokos Capital Management, where he spent nearly three and a half years as CTO after nearly 11 years in markets technology at Barclays. Azzopardi will presumably be managing Balyasny’s macro tech stack.
Lynx Wins 20 Year Award – But is Not Relaxing (Hedge Nordic)
Stockholm (HedgeNordic) – Lynx CTA, one of Sweden’s oldest hedge funds, has just received the prestigious EuroHedge award for “Long Term Performance (20 years)” in the Managed Futures category. Over these past 20 years, Lynx has made multiple advances to its systems and operations but some aspects of the programme – such as the core belief in trend following, the presence of diversifying non-trend models and return optimisation targets – have not changed.
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Lone Pine, Candlestick, and Holocene among the big-name hedge funds hit hard in March (Business Insider)
March was not pleasant for many hedge funds. Big-name managers like Lone Pine, Holocene, Candlestick, Suvretta, and more lost money as industry-wide alpha – or returns beyond the overall market — is on pace for its worst year since 2015, according to client data from Morgan Stanley’s prime brokerage unit. March ended with a massive market event, thanks to the implosion of Bill Hwang’s family office Archegos that dealt major losses to banks like Credit Suisse and Nomura. Meanwhile other banks, such as Morgan Stanley, offloaded some losses to hedge fund clients with the implied trade-off that those managers would get in on the hottest IPOs, according to a CNBC report.
Credit Suisse Ignored Warnings Before Archegos and Greensill Imploded (The Wall Street Journal)
Credit Suisse Group AG’s double-barreled financial crisis shares a common theme: a bank that looked the other way when warning signs argued for pulling back on lucrative corners of its business. The Swiss bank with a big Wall Street presence was caught off guard starting in late February when $10 billion in complicated investment funds it ran with financing firm Greensill Capital unraveled, despite years of internal warnings about the relationship.
Managed Futures Hedge Funds Generate ‘Fantastic’ Q1 Returns Amid Upward Market Momentum (Hedge Week)
Managed futures hedge funds have finished the first quarter of the year in positive territory, seizing on upwards trends in equities indices and the US dollar while weathering the recent bond market and commodities upheaval. Each of Société Générale’s three main CTA and trend-following indices posted gains during March, rounding off what Tom Wrobel, director of capital consulting at Société Générale Prime Services and Clearing in London, describes as a “strong first quarter” for the CTA and trend-following hedge fund sector.
Peak Rock Capital Hits a $2bn Hard Cap for Its Third Flagship Fundraise (Opalesque)
The middle-market private investment firm Peak Rock Capital has closed its third flagship fund Peak Rock Capital Fund III at its $2 billion hard cap, substantially exceeding its target of $1.3 billion. The Austin, Texas, firm said in a press release that its predecessor fund, Fund II, closed on $1.3 billion of commitments in 2017, and its inaugural fund closed on over $700 million in 2013. “Fund III will continue Peak Rock’s successful strategy of focusing on making investments in middle-market companies where Peak Rock can support senior management to drive rapid growth and profit improvement through operational and strategic initiatives,” said the release.
GIC Reaps Big Rewards from Direct Venture Capital Investments (Preqin)
Singapore’s sovereign wealth fund has been actively pursuing direct equity investments in tech companies in recent years, a strategy that is paying off with multiple high-profile exits Singaporean SWF GIC is one of the largest investors in private equity globally, with a 13% allocation to the asset class, as of 31 March 2020. While GIC puts most of its capital to work through externally managed funds, and in particular buyout funds, GIC has become more active as a direct investor in venture capital deals over time, as Fig. 1 shows.
Thursday 4/8 Insider Buying Report: NMTR, JRO (Nasdaq.com)
On Monday, 9 Meters Biopharma’s Chief Financial Officer, Edward J. Sitar, made a $50,000 buy of NMTR, purchasing 50,000 shares at a cost of $1.00 a piece. So far Sitar is in the green, up about 24.0% on their purchase based on today’s trading high of $1.24. 9 Meters Biopharma is trading down about 3.2% on the day Thursday. This buy marks the first one filed by Sitar in the past twelve months. And on Wednesday, Scott C. Caraher purchased $47,900 worth of Nuveen Floating Rate Income Opportunity Fund, purchasing 5,000 shares at a cost of $9.58 a piece. Nuveen Floating Rate Income Opportunity Fund is trading up about 0.2% on the day Thursday. So far Caraher is in the green, up about 0.2% on their buy based on today’s trading high of $9.60.
Datadog Inc (DDOG) CEO Olivier Pomel Sold $27.4 million of Shares (Guru Focus)
CEO of Datadog Inc, Olivier Pomel, sold 329,400 shares of DDOG on 04/05/2021 at an average price of $83.22 a share. The total sale was $27.4 million. Datadog Inc has a market cap of $26.54 billion; its shares were traded at around $86.600000 with and P/S ratio of 45.15.
An Insider at Shoe Carnival (NASDAQ: SCVL) is Selling Shares (Analyst Ratings)
Yesterday, an Insider at Shoe Carnival (SCVL), Timothy T. Baker, sold shares of SCVL for $1.7M. Following Timothy T. Baker’s last SCVL Sell transaction on February 22, 2021, the stock climbed by 11.8%. Based on Shoe Carnival’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $254 million and quarterly net profit of $7.44 million. In comparison, last year the company earned revenue of $240 million and had a net profit of $3.48 million. The company has a one-year high of $63.47 and a one-year low of $15.30. Currently, Shoe Carnival has an average volume of 82.29K.
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