Hedge Fund Greylock Capital Files for Bankruptcy (The Wall Street Journal)
The parent of hedge fund Greylock Capital Management LLC filed for bankruptcy after clients withdrew funds on the heels of negative fund returns for the past three years. The New York-based firm, which opened its doors in 1997, according to its website, and focuses on distressed-debt investments in emerging markets, filed for bankruptcy in the U.S. Bankruptcy Court in New York on Sunday.
London Hedge Funds Are Betting a $100 Carbon Price Is Almost Here (Bloomberg)
Andurand Capital Management is among hedge funds betting the price of carbon can only go up. Brussels is enacting plans to eliminate carbon emissions by the middle of the century in a massive shift in how the European Union powers its economy. Forcing up the bloc’s carbon price, one of the key tools of EU climate policy, may be crucial. The higher the price, the more incentive companies have to make the hard decisions needed to tackle global warming.
NY Hedge Fund Sells Out of ASX-listed Calix Limited (AFR.com)
Hedge fund Sculptor Capital Management – formerly known as Och-Ziff Capital Management – has pretty much waved goodbye to ASX-listed technology outfit Calix Limited. Street Talk understands Sculptor was the seller behind a block of 15.5 million shares worth $18.6 million, which crossed the market in three lines during trade on Tuesday. It marks the end of an era for Calix. Its New York hedge fund backer has been one of its biggest investors since 2014, when it converted a note into equity and rocketed up its share register.
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Rent-to-Own Real Estate Startup Divvy Homes Raises $110 million in Round Led by Hedge Fund Tiger Global (Business Insider)
Rent-to-own startup Divvy Homes announced that it has raised a $110 million Series C equity round. The round was led by hedge fund giant Tiger Global Management, with participation from GGV Capital, Moore Specialty Credit, JAWS Ventures, and existing investors. When added to significant prior fundraising, (including from Lennar, one of the largest homebuilders in the country), it brings total equity and debt funds raised to more than $500 million.
Redditors Coming for Silver (HedgeNordic)
Stockholm (HedgeNordic) – The price of silver had its biggest one-day advance in more than a decade after retail traders turned their focus to the white metal after successfully pushing up the share prices of games retailer GameStop and other stocks. The spot silver price reached as high as $30.03 an ounce on Monday from $25 last Thursday morning, as users on Reddit’s WallStreetBets forum posted about executing a short squeeze of the short positions that central banks are allegedly carrying through bullion banks.
Former EnTrust/Permal Investment Heads Join Jackson Hole Capital Partners to Launch New Alternatives Platform (Hedge Week)
Jackson Hole Capital Partners, the Tulsa-based asset manager, is launching a new alternatives investment platform to be run by two former investment heads from Permal and EnTrust – Robert Kaplan and Christopher Keenan – who have joined the firm as managing partners. The new platform, Jackson Hole Investment Partners, is focused on proprietary sourced direct and co-investments in equity and debt markets – two areas where the managers see attractive opportunities for a differentiated return stream in high-conviction ideas.
CARL Launches New Affiliate Program with Fintel Connect (TMCnet.com)
VANCOUVER, B.C., Feb. 2, 2021 /PRNewswire/ — CARL, a US mobile hedge fund app for accredited investors, has recently launched its affiliate program in partnership with Fintel Connect. CARL’s unique, 100% end-to-end digital platform delivers sophisticated quantitative investments to accredited investors. The platform features lowered minimums, real-time performance data, diversification options and monthly liquidity. As a mobile app, it also removes barriers to access, improves risk control and delivers 15-25% targeted returns.
Mediobanca’s Cairn Buys Blackstone-Backed Hedge Fund Bybrook (Bloomberg)
(Bloomberg) — Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments. The acquisition, set to complete by the end of June, will add about $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview. He did not disclose the value of the deal.
Tuesday 2/2 Insider Buying Report: TXN, BRO (Nasdaq.com)
At Texas Instruments, a filing with the SEC revealed that on Thursday, Director Martin S. Craighead purchased 5,975 shares of TXN, at a cost of $166.91 each, for a total investment of $997,294. Craighead was up about 5.3% on the purchase at the high point of today’s trading session, with TXN trading as high as $175.70 at last check today. Texas Instruments is trading off about 0.2% on the day Tuesday. This buy marks the first one filed by Craighead in the past year. And at Brown & Brown, there was insider buying on Friday, by Director James Charles Hays who purchased 10,000 shares at a cost of $43.38 each, for a trade totaling $433,750. Brown & Brown is trading up about 2.9% on the day Tuesday.
We Asked 7 Experts What They’re Hoping Warren Buffett’s Berkshire Hathaway will do this Year. Here’s What They Told Us. (Business Insider)
Warren Buffett‘s Berkshire Hathaway had a rollercoaster ride of a year in 2020. The famous investor’s company owns scores of businesses including Geico, See’s Candies, and the BNSF railway, as well as billion-dollar stakes in Apple, Bank of America, Coca-Cola, Kraft Heinz, and other public companies.
B. Riley Financial Inc (RILY) Chairman and Co-CEO Bryant R Riley Bought $72,375 of Shares (Guru Focus)
Chairman and Co-CEO of B. Riley Financial Inc, Bryant R Riley, bought 1,500 shares of RILY on 01/29/2021 at an average price of $48.25 a share. The total cost of this purchase was $72,375. B. Riley Financial Inc is a diversified financial services company. The reportable operating segments of the company include Capital Markets, Auction and Liquidation, Valuation and Appraisal and Principal Investments.
A Director at Trustmark (NASDAQ: TRMK) is Selling Shares (Analyst Ratings)
Today, a Director at Trustmark (TRMK), Harry Walker, sold shares of TRMK for $114.7K. Based on Trustmark’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $154 million and quarterly net profit of $51.22 million. In comparison, last year the company earned revenue of $131 million and had a net profit of $33.95 million. The company has a one-year high of $33.48 and a one-year low of $20.08. Currently, Trustmark has an average volume of 82.33K.
Insider-Trading Suspects Can Stay Silent, EU Top Court Rules (Bloomberg Law)
Insider-trading suspects have a right to remain silent during the course of an investigation, but aren’t allowed to fully refuse to cooperate with authorities, the European Union’s highest court ruled. The EU Court of Justice in Luxembourg said the right to remain silent “lies at the heart of the notion of a fair trial,” but this right “cannot, however, justify every failure to cooperate on the part of the person concerned with the competent authorities, such as refusing to appear at a hearing planned by those authorities or using delaying tactics designed to postpone it.”
