ECB Bet Gives Brevan Howard Bumper Trading Day (Hedge Week)
Macro hedge fund Brevan Howard Asset Management had one of its best ever trading days on 4 February, according to a report by Bloomberg. The firm benefitted from bets on short-term euro rates after the ECB signalled that it may begin to start raising interest rates this year. Star trader Fash Golchin who chalked up record losses last year, is said to have made 8 per cent, according to unnamed sources. The firm’s multi-trader Alpha Strategies platform, plus several other managers including Louis Basger, Minal Bathwal and Alfredo Siatta, are also said to have made gains.
Blackstone Hedge Fund Trio Resigns After Leadership Changes (Bloomberg)
Three Blackstone Inc. managing directors resigned following leadership changes at the firm’s hedge fund solutions group, according to people with knowledge of the matter. Rakesh Kumar, the head of trading at Blackstone Alternative Asset Management’s special situations investing group, is set to join Point72 Asset Management, said the people, who asked not to identified discussing the move.
General Catalyst Hauls in $4.6bn Across Three Funds (Opalesque)
American venture capital firm General Catalyst (GC) has hauled in $4.6 billion, which is spread across a trio of distinct strategies, contributing to a strong start for venture fundraising this year. According to a press release from the VC firm focused on early-stage and growth investments, the new Fund XI is consisting of Creation ($800 million), Ignition ($1.1 billion), and Endurance ($2.7 billion). The largest fund in the new General Catalyst family is the $2.7 billion vehicle called General Catalyst Group XI-Endurance LP. The fund will be dedicated to investing in later-stage private companies with valuations north of $150 million.
AIR Asset Management Surpasses $500M AuM (PRNewswire.com)
CHICAGO, Feb. 24, 2022 /PRNewswire/ — AIR Asset Management (“AIRAM” or “Firm”), a hedge fund management firm focused on longevity-linked investments such as life settlements and annuities, received $136 million in net inflows into its multi-strategy investment products in 2021. The Firm’s total assets under management surpassed $500 million as of January 31, 2022, representing a 45% increase year on year. The Firm attributes this rapid growth to robust and sustained investor demand for its risk-adjusted double-digit returns among RIAs and Institutional Investors, which now make up over 80% of the Firm’s investor base.
Thursday 2/24 Insider Buying Report: FCFS, VPG (Nasdaq.com)
At FirstCash Holdings, a filing with the SEC revealed that on Wednesday, AFF President Howard F. Hambleton bought 13,187 shares of FCFS, at a cost of $75.82 each, for a total investment of $999,900. Investors have the opportunity to snag FCFS at a price even lower than Hambleton did, with shares trading as low as $70.90 in trading on Thursday — that’s 6.5% under Hambleton’s purchase price. FirstCash Holdings is trading down about 2.6% on the day Thursday. This purchase marks the first one filed by Hambleton in the past twelve months. And at Vishay Precision Group, there was insider buying on Tuesday, by Director Wes Cummins who purchased 30,000 shares at a cost of $32.26 each, for a trade totaling $967,650.
Executives Buy Over $70M Of 4 Stocks (Benzinga)
Amplitude: The Trade: Amplitude, Inc. (AMPL) Director Patrick Grady acquired a total of 2,563,748 shares at an average price of $19.48. To acquire these shares, it cost around $49.95 million. Duolingo: The Trade: Duolingo, Inc. DUOL 10% owner Durable Capital Partners Lp acquired a total of 112,069 shares at an average price of $87.57. To acquire these shares, it cost around $9.81 million. Warby Parker: The Trade: Warby Parker Inc. WRBY 10% owner Daniel Sundheim bought a total of 240,000 shares at an average price of $27.99. To acquire these shares, it cost around $6.72 million.
