Secretive Hedge Fund Raises $1 Billion to Make Big Leveraged Bets (Bloomberg)
Eisler Capital, one of Europe’s most secretive hedge funds, has raised about $1 billion for a new money pool that plans to use leveraged bets to juice its track record of reliable single-digit returns. The Eisler Capital Multi Strategy Fund is the region’s second-largest hedge fund launch this year and started trading on July 1, according to a person familiar with the matter, who asked not to be identified because the details are private. The fund aims to leverage its bets by as much as four times to achieve gains of 12-15%, according to an investor document seen by Bloomberg.
Jamie Dimon’s $50 million Surprise (Business Insider)
Jamie Dimon just got a glitzy new offer to keep him around another five years. UBS is raising salaries for investment banking analysts, associates, and directors and we have all the details. Ryan Tolkin‘s professors, colleagues, and friends give us some insight into the 34-year-old’s rise at Schonfeld Strategic Advisors. We rounded up the top fintechs you should look out for this year, including some that could be the next household names, and others that are building behind-the-scenes tech that will revolutionize Wall Street.
King Street Capital Management Raises $1.2 Billion Inaugural Global Drawdown Fund Targeting Less Liquid, Longer Duration Credit Opportunities (PRNewswire)
NEW YORK, July 22, 2021 /PRNewswire/ — King Street Capital Management, L.P. (“King Street”), a leading $20 billion global investment manager specializing in credit, announced today that it has raised $1.2 billion for its inaugural Global Drawdown Fund (“GDF”) from existing and new investors, exceeding its $750 million target. GDF has a flexible, global mandate. It will target opportunities across distressed and stressed corporate debt, structured products, and asset-backed investments, as well as claims and claim-related opportunities. The fund expands on King Street’s robust product offerings, building upon its established multi-strategy credit-focused Flagship and European hedge funds, along with its growing platform of real estate, CLO and lending offerings.
Photo by Austin Distel on Unsplash
Zoom – Ray Dalio’s New Zoom App is All About Instant Feedback — Fintech Zoom at Work (Fintech Zoom)
Zoom – Ray Dalio’s new Zoom app is all about instant feedback — Fintech Zoom at Work. Bridgewater founder Ray Dalio is known for his hedge fund’s unusual experiments in management. They include the famous “Dot Collector” system, in which all Bridgewater employees are tasked with giving one another real-time feedback on an iPad app during meetings and presentations.
Danish-Originating ARK36 Bolsters Team (Hedge Nordic)
Stockholm (HedgeNordic) – Cryptocurrency hedge fund ARK36, founded by an all-Danish team led by Ulrik K. Lykke, is bolstering its Cyprus-based investment team with the hiring of Loukas Lagoudis as Executive Director and Socrates Minas as Investor Relations Manager. The new hires will work directly with ARK36’s Executive Director, Ulrik Lykke, out of Larnaca in Cyprus. Loukas Lagoudis has previously worked at Argo Capital Management, GAM Investments, Millennium Investments and HSBC in various roles focused on the portfolio construction of tailor-made solutions and systematic strategies. He also developed macroeconomic models at Credit Suisse in his role as assistant vice president between September 2015 and August 2017.
Hedge Fund Assets Near USD4 Trillion as Fresh Inflation Fears Push Investors Towards Alternatives (Hedge Week)
Growing numbers of investors are turning to hedge funds to protect their portfolios in the face of inflationary fears, with total industry capital swelling to almost USD4 trillion and more allocators set to tilt towards alternative assets, new research shows. Alternatives technology provider Vidrio Financial’s latest allocator market survey suggests inflation fears during the first half of 2021 are driving further allocations to alternative asset classes, such as hedge funds and private equity, which have historically outperformed equities and bonds during periods of inflation. The Vidrio Financial Allocator Market Survey quizzed some 4,500 institutional investors globally in late June, collectively representing USD100 billion in assets under management and split roughly 60/40 between North America and EMEA.
Legendary Investor Howard Marks Thinks We are at the Bull Market Stage Where ‘People Tend to Accept the Trees will Grow to the Sky.’ He Explains Why Studying Psychology Gives Investors ‘a Great Advantage’ and why it’s Important to Deviate from the Crowd. (Business Insider)
Howard Marks is known as somewhat of a philosopher king in the world of investing. The co-chairman of the $153 billion Oaktree Capital Management has not only built the world’s largest distressed-debt investment firm but also penned 132 iconic memos since 1990.
Investing in the Elderly: A Primer (Preqin)
As the investment thesis surrounding aging and elderly populations gains traction, we explore its foundations and mediums of implementation. Aging is a fact of life. We’re all growing older – some of us for the better, some for the worse. Increasingly, when and how we age is attracting the attention of everyone from policymakers to scientists and investors.
SkyBridge Co-CIO Troy Gayeski Resigns (Opalesque)
Troy Gayeski has resigned from SkyBridge Capital, where he was a Partner, Co-CIO, and Senior Portfolio Manager. No details about his future plans are available as of this writing. Gayeski joined SkyBridge in 2010 when SkyBridge acquired Citigroup Alternative Investments’ fund-of-funds business. He served as Senior Portfolio Manager until February 2019, when he was elevated to Co-Chief Investment Officer alongside Ray Nolte.
Thursday 7/22 Insider Buying Report: DPW, TCRX (Nasdaq.com)
On Tuesday, Ault Global Holdings’ Executive Chairman, Milton C. Ault III, made a $45,622 purchase of DPW, buying 20,000 shares at a cost of $2.28 a piece. Ault III was up about 8.3% on the buy at the high point of today’s trading session, with DPW trading as high as $2.47 in trading on Thursday. Ault Global Holdings is trading off about 1.5% on the day Thursday. Before this latest buy, Ault III purchased DPW on 3 other occasions during the past twelve months, for a total investment of $9,491 at an average of $3.80 per share. And also on Tuesday, Chief Financial Officer Brian M. Silver purchased $15,000 worth of Tscan Therapeutics, purchasing 1,000 shares at a cost of $15.00 each. Tscan Therapeutics is trading down about 2.2% on the day Thursday. Bargain hunters have the opportunity to grab TCRX even cheaper than Silver did, with shares trading as low as $9.64 at last check today which is 35.7% below Silver’s purchase price.
The Executive of BioVaxys Technology (Other OTC: BVAXF) is Buying Shares (Analyst Ratings)
Today, the Executive of BioVaxys Technology (BVAXF), James Passin, bought shares of BVAXF for $50.6K. This is Passin’s first transaction since reporting a Buy transaction on UTOLF back in April 2020 This recent transaction increases James Passin’s holding in the company by 2% to a total of $2.43 million. Currently, BioVaxys Technology has an average volume of 13.82K. The company has a one-year high of $0.62 and a one-year low of $0.05.
Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $26 million of Shares (Guru Focus)
COB and CEO of Facebook Inc, Mark Zuckerberg, sold 77,300 shares of FB on 07/19/2021 at an average price of $336.63 a share. The total sale was $26 million.
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