D.E. Shaw Closes First Private Equity Fund Shy of $500 Million Target (Bloomberg)
Quant pioneer D.E. Shaw & Co. raised more than $450 million for its first dedicated private equity fund, just shy of the $500 million target it set a year ago. The Voltaic fund is debuting after a drop in private-company valuations, and portfolio manager Edwin Jager said he expects to capitalize on further declines this year as startups grow more desperate for cash.
Hedge-Fund Legend Seth Klarman Pounced on Amazon and Parent Companies of Google and Facebook in the Fourth Quarter (MarketWatch)
Seth Klarman, one of the top money managers of all time, quadrupled his firm’s stake in Amazon.com in the fourth quarter, one of several big bets on mega-cap tech companies that were made. A 13-F filing filed with the Securities and Exchange Commission showed Klarman’s Baupost increased its stake in Amazon by 299%. Its stake in Alphabet the parent of Google, rose by 190%, and its stake in Meta Platforms increased by 151%.
Soros Appears To Be Fixated On Gains In The S&P 500 Index (FX Mag)
On Monday (13.02) we were able to learn about the SOROS FUND MANAGEMENT fund’s 13F report, a periodic report to the US Securities and Exchange Commission (SEC). The Form 13F contains information about the value and number of shares held, as well as the value of investments and the type of investment assets the investor has in its portfolio, for the last quarter. What has George Soros‘ fund invested in?
Source: pexels
Demand for Macro Traders Remains White Hot. Millennium Just Lured a Star Portfolio Manager from Rival ExodusPoint. (Business Insider)
The competition for macro portfolio managers was scorching hot to end the year, and the trend isn’t showing signs of abating in 2023. Millennium Management recently added another star to its stable, lifting a 32-year-old macro PM out of rival ExodusPoint, according to people familiar with the matter. John Curtice is set to join Izzy Englander‘s $58 billion multi-strategy fund following his noncompete period, the people said. Curtice, a 2012 graduate of MIT, had been with Exodus since its launch in the summer of 2018. Before that, he worked three-year stints in global macro at both Mariner Investment Group and Element Capital.
Element to Relax Redemption Rules Following $1bn Monthly Loss (Hedge Week)
Element Capital, one of the world’s biggest macro hedge funds, is responding to a recent string of poor returns, including a $1 billion loss during last month’s stock market rally, by reducing its $12 billion asset base in a bid to improve performance, according to a report by the Financial Times. The report cites unnamed sources as revealing that the New York-based firm, which was founded by Jeffrey Tailpins, chalked up a 9.6% loss in January, as equity markets rebounded on speculation that central banks would soon call a halt to interest rate rises.
Purple Locks Horns with Largest Shareholder as Hedge Fund Urges Shake-Up (HomeTextilesToday.com)
LEHI, Utah – Sleep company Purple Innovation is in the middle of a proxy battle with its largest shareholder Coliseum Capital Management, which made moves in September to takeover the company. That acquisition plan, according to the investment firm, is now off the table, but the company said this week that the continued moves by Coliseum Capital are distracting to Purple’s business. In its latest move, the investment firm nominated a slate of five board members this week for shareholders to consider at its upcoming shareholders meeting.
Asia HFunds Post Strongest Month in January Since 2016 – Goldman (Reuters)
After seeing record outflows in 2022, Asia-focused hedge funds posted a 5.3% gain in a January rally to mark their best monthly performance in years, bolstered mainly by a rebound in Chinese share prices, Goldman Sachs said in a note. The funds’ performance in January, the strongest in Goldman Sachs records going back to 2016, comes as China’s economy reopens after years of COVID-19 curbs and U.S. interest rates appear to be close to a peak.
Crypto’s Hedge-Fund Ties to Face Sharper Scrutiny Under SEC Plan (Bloomberg Law)
Hedge funds, private equity firms and pension funds could have a tougher time working with many crypto firms under a draft proposal from a top US regulator, according to people familiar with the matter. Rule changes that the US Securities and Exchange Commission plans to propose Wednesday would in effect make it harder for crypto firms to be “qualified custodians” — a designation that allows companies to hold client assets for money managers, said the people who asked not to be identified because the details haven’t yet been released.
RenTech Hedge Fund Bought 3.3 Million Tesla Shares Last Quarter (TeslaNorth.com)
Renaissance Technologies increased its stake in Tesla by over 1,000-fold in the fourth quarter, and the now automaker now represents one of the firm’s largest holdings. The hedge fund increased its stake in Tesla from just 1,400 shares to 3.4 million shares by the end of 2022, according to a filing with the Securities and Exchange Commission (SEC) on Monday (via Markets Insider). At the end of September, Renaissance Technologies’ stake in Tesla was worth under $400,000, with its shares valued at as much as $419 million by December 31, shows the filing.
Tuesday 2/14 Insider Buying Report: CLFD (Nasdaq.com)
On Monday, Clearfield’s Director, Charles N. Hayssen, made a $181,500 buy of CLFD, purchasing 3,000 shares at a cost of $60.50 each. So far Hayssen is in the green, up about 5.5% on their purchase based on today’s trading high of $63.85. Clearfield is trading up about 2.8% on the day Tuesday.
$1.2 Million Bet On Alset? Check Out These 3 Penny Stocks Insiders Are Buying (Benzinga)
Alset: The Trade: Alset Inc. (AEI) CEO Chan Heng Fai Ambrose acquired a total of 545,400 shares at an average price of $2.20. To acquire these shares, it cost around $1.2 million. Applied Digital: The Trade: Applied Digital Corporation (APLD) CEO, Chairman Wes Cummins bought a total of 25,000 shares at an average price of $3.39. To acquire these shares, it cost around $84.75 thousand.
