Blockchain Firm ConsenSys Raises $200 Million from HSBC, Third Point (Reuters)
LONDON, Nov 17 (Reuters) – Blockchain technology firm ConsenSys said on Wednesday it had raised $200 million, at a valuation of $3.2 billion, from investors including HSBC (HSBA.L) and U.S. hedge fund Third Point.
Guggenheim, Baupost Stick With Ackman’s SPAC (Institutional Investor)
The biggest investors in Bill Ackman’s special purpose acquisition company, Pershing Square Tontine Holdings, held on to most of their shares last quarter, even as the stock tumbled after the Securities and Exchange Commission nixed the SPAC’s plans to invest in Universal Music Group and Tontine was hit with an investor lawsuit. Guggenheim, Tontine’s top investor with 22 million shares, is one that stood pat. It owns 11 percent of the SPAC, making Tontine its third-largest publicly traded equity position, according to its latest 13F filings with the SEC.
Greenland Capital, a New Fund from Billionaire Izzy Englander’s Son, is Hoping to Raise More Than $1 Billion (Business Insider)
The son of billionaire Israel Englander is gearing up to raise more than $1 billion for his new hedge fund with a little help from his famous dad. Michael Englander’s Greenland Capital is expected to have at least 10 portfolio managers trading fundamental equity books when the new fund launches sometime next year. The firm is getting as much as $300 million in starting capital from a group led by Englander’s father, billionaire Millennium founder Izzy Englander, and hopes to raise more than $1 billion, sources tell Insider.
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Ray Dalio’s Bridgewater is Reportedly Looking to Raise $469 Million in New China Fund (CNBC)
BEIJING — American hedge fund manager Ray Dalio is launching a new China fund through a local subsidiary, according to a report in China’s Securities Times, citing sources. The fund aims to raise more than 3 billion yuan ($468.8 million), according to the report on Tuesday. Dalio’s Bridgewater Associates is the largest hedge fund in the world, with $223 billion in assets under management as of a July 9 filing with the U.S. Securities and Exchange Commission. Over half, or nearly 59%, of those assets belonged to non-U.S. clients, according to the document.
Borea and Proxy Together Victorious (Hedge Nordic)
Stockholm (HedgeNordic) – Two Nordic hedge fund managers have brought home awards from this year’s HFM EuroHedge Emerging Manager Awards. From the list of 15 Nordic nominees, Norwegian Borea Høyrente and Swedish Proxy Renewable Long/Short Energy won their respective categories at the award ceremony at Clothworkers Hall in London on November 16. HFM EuroHedge Emerging Manager Awards seek to honor the best performing smaller and recently launched hedge funds in Europe. The nominees and winners are selected based on a combination of annualized returns and Sharpe ratios over the 12 months through mid-2021. The minimum fund asset size for inclusion at the HFM EU Emerging Manager Awards is $20 million and the maximum fund asset size is $500 million.
Oaktree Closes Opportunities Fund XI at USD16bn (Hedge Week)
Oaktree Capital Management (Oaktree) has held the final close of Oaktree Opportunities Fund XI and its related vehicles (Opps XI), with total capital commitments of USD15.9 billion. Opps XI is Oaktree’s largest fund to date, exceeding its original target of USD15 billion. To date, the Fund has invested or committed to invest approximately 70 per cent of its capital in an attractive mix of opportunities that are diversified across geographies, sectors and asset classes. This swift pace of investment has been made possible by the strategy’s all-weather, broad, and flexible investment charter that allows the Opportunities group to consider the most attractive public and private investments worldwide.
Institutional Investors Comfortable with Stevie Cohen Again, Raises $600 Million for First PE Fund (SWFInstitute.org)
Hedge fund Point72 Asset Management closed a US$ 600 million funding round for Point72 Hyperscale, its inaugural private equity fund. Point72 today announced it has closed on a $600 million funding round for Point72 Hyperscale plans to acquire companies and seeks to use applied artificial intelligence to modernize them into market leaders. Steven A. Cohen is the founder and CEO of Point72. Earlier in 2021, Point72 established Point72 Private Investments as the new business unit for its growing institutional private investing activities, which include Point72 Ventures, its global venture capital strategy, and Point72 Hyperscale.
Hedge Fund Performance Update: October 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark returned +2.63 in October, reversing September’s losses (-0.99%) and pushing the year-to-date return to +14.85%. This heatmap presents the hedge fund performance benchmarks for October 2021, plus the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications.
SSE to Sell Stake in Networks to Fund Net Zero Spending Plan (Bloomberg)
(Bloomberg) — SSE Plc is selling a stake in its electricity network assets to fund a net zero spending drive as it grapples with pressure from activist investor Elliott Investment Management. The British utility expects to sell 25% share of both its transmission and distribution grid assets, confirming an earlier Bloomberg report. The sale will fund a 65% increase in capital expenditure for net zero infrastructure to 12.5 billion pounds ($16.8 billion) during the next five years, according to a strategic update on Wednesday. Spending will be allocated 40% to networks, 40% to renewables and 20% to other flexible generation.
Wednesday 11/17 Insider Buying Report: JXN, EAF (Nasdaq.com)
At Jackson Financial, a filing with the SEC revealed that on Friday, Vice Chair, Paul Chadwick Myers purchased 38,925 shares of JXN, at a cost of $32.95 each, for a total investment of $1.28M. So far Myers is in the green, up about 6.9% on their buy based on today’s trading high of $35.21. Jackson Financial Inc Class A is trading up about 0.5% on the day Wednesday. And at GrafTech International, there was insider buying on Friday, by Director Jean-marc Germain who bought 35,000 shares for a cost of $12.75 each, for a total investment of $446,134. This purchase marks the first one filed by Germain in the past year. GrafTech International is trading down about 3.5% on the day Wednesday.
Notable Workiva Insider Trades $90M In Company Stock (Benzinga)
Martin J Vanderploeg, CEO at Workiva (NYSE:WK), made a large buy and sell of company shares on November 16, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Martin J Vanderploeg exercised options to purchase 864,199 Workiva shares for $0 on November 16. They then sold their shares on the same day in the open market. They sold at prices ranging from ($0.00) to $151.00 to raise a total of $90,600,000 from the stock sale.
A Director at Yellow Corporation (NASDAQ: YELL) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Yellow Corporation (YELL), Matthew Doheny, bought shares of YELL for $407.7K. This recent transaction increases Matthew Doheny’s holding in the company by 18.47% to a total of $2.56 million. Following Matthew Doheny’s last YELL Buy transaction on November 09, 2021, the stock climbed by 1.8%. Based on Yellow Corporation’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.3 billion and quarterly net profit of $8.3 million.
