Brevan Howard Has a Plan to Outlast Its Billionaire Founder (Bloomberg)
Alan Howard is synonymous with the hedge fund he founded nearly two decades ago. His chief executive officer is on a mission to change that. Aron Landy, who replaced the billionaire at the helm of Brevan Howard just over a year ago, is shifting the famed macro investing firm away from being a founder-led hedge fund toward a broader financial-services operation, readying it to survive beyond the man whose name is above the door.
Howard Marks and Joel Greenblatt Discussed Market Bubbles, Tech Stocks, and Investing Tips in a Recent Interview. Here are the Value Investors’ 9 Best Quotes. (Business Insider)
Value investors Howard Marks and Joel Greenblatt discussed market bubbles, tech stocks, and the key things they’ve learned during their careers in a recent RealVision interview. The Oaktree Capital Management co-chairman and the co-chief of Gotham Asset Management agreed there were signs of irrational exuberance in markets.
Norway’s Trillion-Dollar Fund Pushes Portfolio Companies to Diversify Boards (Financial News)
Norway’s sovereign wealth fund, which has more than $1.3tn in assets under management, has said its portfolio companies must increase diversity on their boards. Norges Bank Investment Management said in a 15 February statement that the boards of its investments should “have a diversity of competencies and backgrounds” and “an appropriate gender balance”.
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With No Deal Yet, Pershing Square Tontine Is Running Too Hot (Investorplace.com)
Bill Ackman’s special purpose acquisition company (SPAC), Pershing Square Tontine (NYSE:PSTH), continues to move higher. In fact, PSTH stock popped as high as $33 per share last week. That was a nice bump over its previous trading range in the high $20s. PSTH stock has settled in around the $30 mark. That’s quite impressive. Keep in mind that Ackman debuted Pershing Square Tontine at about $20 per share.
Los Angeles-Based Hedge Fund Chooses Dallas for Office Expansion (Biz Journals)
Canyon Partners LLC, a $24 billion hedge fund based in Los Angeles, has chosen Dallas for its next corporate office. The company’s new space will be located within Harwood No. 2 at 2728 N. Harwood Street in Uptown Dallas. While the company declined to disclose how many square feet it had leased, plans submitted to the state show that the company is leasing about 13,000 square feet, or an entire floor. Andy Leatherman and Brad Selner of JLL represented the tenant while Hannah Waidmann and Kelly Whaley of Harwood International represented the landlord.
UB’s Focus on Antifragiles (Hedge Nordic)
Stockholm (HedgeNordic) – Known as the architect of HCP Focus – one of the most consistently top-performing long-only equity hedge funds in the world for many years, Ernst Grönblom parted ways with Helsinki Capital Partners last spring to later launch a fund employing the same philosophy under the umbrella of United Bankers. The recently-launched UB Thales Argo applies the same strategy and investment principles Grönblom relied on throughout most of his investing career. “Don’t fix something which isn’t broken,” says portfolio manager Tom Wiik, who co-manages UB Thales Argo with Grönblom.
The CEOs of Robinhood, Reddit, Melvin Capital, and Citadel, as well as Streamer Roaring Kitty, will Testify at a House Hearing on GameStop (Business Insider)
The CEOs of brokerage app Robinhood, social-media site Reddit, hedge fund Citadel, and investment-management firm Melvin Capital will testify as part of a House hearing into the GameStop saga, alongside YouTube streamer Roaring Kitty. The witnesses will testify before the House Financial Services Committee (FSC) on Thursday.
Bain Capital, Pantheon Ventures form JV for Direct Lending (Opalesque)
Boston-based Bain Capital Specialty Finance and San Francisco-based global alternative private markets manager Pantheon Ventures have formed a private direct-lending joint venture (JV) called the International Senior Loan Program (ISLP). The tie-up will offer private direct lending solutions to middle-market borrowers primarily across Europe and Australia. Bain Capital will hold a 70.5% equity stake in the venture, while Pantheon Ventures will own the remaining 29.5% stake. The investment portfolio is set to consist of about $320 million of senior secured loans contributed by BCSF, a subsidiary of Bain Capital Credit.
Insider Trading: February 15, 2021 (BIV.com)
Insider Alexi Illya Zawadzki, officer. Company: Lithium Americas Corp. (TSX:LAC). Shares owned: 316,604. Trade date: Jan 29, Feb 2. Trade total: $781,606. Trade: Sale of 31,264 shares at a price of $24.74 to $25.55 per share. Insider Brad Barnett, officer. Company: Rock Tech Lithium Inc. (TSX-V:RCK). Shares owned: 80,613. Trade date: Jan 28, 29, Feb 1, 2. Trade total: $603,922. Trade: Sale of 111,100 shares at prices from$5.22 to $5.70 per share. Insider Jerry Kroll, director. Company: ElectraMeccanica Vehicles Corp. (Nasdaq:SOLO). Shares owned: 457,231. Trade date: Jan 28, 29. Trade total: $457,231. Trade: Sale of 57,622 shares at prices of $7.93 to $7.94 per share.
A Director at Simulations Plus (NASDAQ: SLP) is Selling Shares (Analyst Ratings)
On February 12, a Director at Simulations Plus (SLP), David Ralph, sold shares of SLP for $421.7K. Following David Ralph’s last SLP Sell transaction on January 20, 2021, the stock climbed by 11.0%. In addition to David Ralph, 2 other SLP executives reported Sell trades in the last month.
Guardant Health Inc (GH) Chairman, President and COO Amirali Talasaz Sold $48.5 million of Shares (Guru Focus)
Chairman, President and COO of Guardant Health Inc, Amirali Talasaz, sold 292,773 shares of GH on 02/11/2021 at an average price of $165.55 a share. The total sale was $48.5 million. Guardant Health Inc has a market cap of $17.91 billion; its shares were traded at around $179.100000 with and P/S ratio of 63.43. GuruFocus has detected 1 severe warning sign with Guardant Health Inc.
The Past Week’s Notable Insider Buys: Biotech IPOs, Curiositystream, Greenbrier And More (Benzinga)
Here are some of the most noteworthy insider purchases that were reported in the past week. Vor Biopharma Inc (NASDAQ: VOR) saw two 10% owners acquire almost 3.5 million shares in its IPO. At an offering price of $18.00, the total for those purchases came to more than $63.63 million. Shares ended this past week trading at $48.78, after going as high as $63.62 after the IPO. Lucira Health Inc (NASDAQ: LHDX) had a 10% owner buy shares of in the initial public offering. The more than 3.46 million shares acquired, at $17.00 apiece, totaled nearly $58.85 million. The stock has traded as high as $35.72 so far and closed most recently at $33.49 per share.
