FTSE Review: Pershing Square Misses Top 100 Spot But F&C Joins it in the Queue (Citywire.co.uk)
Pershing Square Holdings (PSH), the investment company investing in Bill Ackman’s long-only hedge fund, has failed to win a place in the FTSE 100 during the latest reshuffle, although several trusts have moved up to the FTSE 250. PSH’s £3.8bn market capitalisation, according to figures from the London Stock Exchange on 5 June, put it on the verge of joining Scottish Mortgage (SMT) and private equity group 3i (III) in the blue-chip index. PSH’s sterling shares have surged in value by a third this year, after a spectacularly profitable credit hedge paid off at the height of the coronavirus crash.
Hedge Fund Taconic Plans Third European Distressed Debt Vehicle (Bloomberg)
The New York-based hedge fund Taconic Capital Advisors is planning to start its third European fund focused on distressed debt as the coronavirus pandemic dents the earnings of companies across the region. The firm is seeking to start the fund this year after raising $600 million for its second vehicle in 2017, according to a person familiar with the matter, who declined to specify the size of the fund that Taconic is targeting.
Woodford Investors in Line for £225m from Biotech Sale (Sky News)
A portfolio of 19 life sciences company stakes accumulated by Neil Woodford, the former star fund manager, will be sold on Friday to an American buyer for just under £225m. Sky News has learnt that Acacia Research Corporation has finalised a deal with Link Fund Solutions, the administrator of the shareholdings, after months of talks.
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Hedge Fund Sylebra Acquires 1.1% Stake in PVR, Promoter Nirayu Buys 1.5% in Alembic (MoneyControl.com)
Hong Kong-based hedge fund Sylebra Capital Partners Master Fund has picked up 1.1 percent equity stake in multiplex chain PVR on June 5. As per bulk deals data available on the National Stock Exchange for June 5, Sylebra Capital Partners Master Fund has purchased 5,99,986 equity shares in PVR at Rs 1,167.48 per share. Promoter Nirayu Pvt has acquired 39,26,391 shares (representing 1.52 percent of total paid-up equity) of Alembic at Rs 54 per share on the BSE and NSE. Total promoter and promoter group shareholding in Alembic stood at 67.62 percent, including Nirayu’s 59.8 percent as of March 31.
Jonathan Litt on the Global Property Bubble (Podcast) (Bloomberg)
Bloomberg Opinion columnist Barry Ritholtz speaks with Jonathan Litt, who is the founder and chief investment officer of Land & Buildings. Litt founded Land & Buildings in the summer of 2008 and has built it into a prominent activist hedge fund in the real-estate space. He has more than 25 years of experience as a strategist and an investor in both public real-estate securities and direct property.
Blowout Jobs Report Shows ‘Big Hedge Fund Guys’ Got it Wrong and the Market Was Right, Says Cramer (CNBC)
Following a “superb” jobs report, Jim Cramer said hedge funds managers who made big bearish predictions about what the coronavirus pandemic would do to the market and economy were wrong. And the relentless higher price action that many doubted was right. “The market got it right,” CNBC’s Cramer said on “Squawk on the Street” on Friday. “The big hedge fund guys who told us that this was going to be the highest and worst and most dangerous since 1999, well they made an ill-advised prediction.”
Petra Capital Partners Picks Up $208m to Close Fourth Growth Fund (Opalesque.com)
Petra Capital Partners has picked up $208m for the final close of its fourth growth fund Petra Growth Fund IV (PGF IV). The fund targets healthcare, business, and technology-enabled services companies and is structured as a small business investment company (SBIC) licensed by the U.S. Small Business Administration. “We are very pleased with the response from our existing investors and several important new investors for PGF IV and the strong support we received from the SBIC program,” said Mike Blackburn, Managing Partner at Petra. According to a press release, the fund has already closed on two new investments. In late 2019, the fund partnered with founding management and an experienced stable of co-investors to form Three Oaks Hospice, a Dallas, TX, based provider of hospice and palliative care services.
Hedge Fund Software Market Witness Highest Growth in near future| Leading Key Players: Eze Software, FundCount, Northstar Risk, VestServe, FXCM, Imagineer Technology Group, Backstop Solutions Group, FinLab Solutions, PortfolioShop, AlternativeSoft, Altrev (OpenPR.com)
Reportsandmarkets.com adds “COVID-19 Impact on Global Hedge Fund Software Market Size, Status and Forecast 2020-2026” new report to its research database. The report spread across 133 pages with multiple tables and figures in it. This report studies the Hedge Fund Software market with many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Find the complete Hedge Fund Software market analysis segmented by companies, region, type and applications in the report.
Friday 6/5 Insider Buying Report: CME, FSFG (Nasdaq.com)
On Tuesday, CME Group’s Director, William R. Shepard, made a $137,315 buy of CME, purchasing 771 shares at a cost of $178.10 a piece. So far Shepard is in the green, up about 8.3% on their buy based on today’s trading high of $192.82. CME Group is trading up about 3.5% on the day Friday. And at First Savings Financial Group, there was insider buying on Monday, by Director Frank Czeschin who bought 3,000 shares for a cost of $40.97 each, for a trade totaling $122,900. Before this latest buy, Czeschin purchased FSFG at 2 other times during the past twelve months, for a total cost of $307,915 at an average of $58.18 per share. First Savings Financial Group is trading up about 2.2% on the day Friday. So far Czeschin is in the green, up about 12.2% on their buy based on today’s trading high of $45.97.
Live Nation Entertainment Inc (LYV) EVP & CFO Elizabeth Kathleen Willard Sold $3.6 million of Shares (Guru Focsus)
EVP & CFO of Live Nation Entertainment Inc., Elizabeth Kathleen Willard, sold 68,040 shares of LYV on 06/04/2020 at an average price of $53.53 a share. The total sale was $3.6 million. Live Nation Entertainment Inc is a live entertainment company, and a producer of live music concerts. It is involved in live music events, venue operations, and ticketing services. Live Nation Entertainment Inc has a market cap of $12.48 billion; its shares were traded at around $57.96 with and P/S ratio of 1.11.
The EVP of Central Pacific Financial (NYSE: CPF) is Buying Shares (Analyst Ratings)
Yesterday, the EVP of Central Pacific Financial (CPF), Arnold Martines, bought shares of CPF for $76.63K. Following this transaction Arnold Martines’ holding in the company was increased by 14.1% to a total of $594.5K. This is Martines’ first Buy trade following 3 Sell transactions.
SEC Obtains Judgment of More Than $30 Million Against Investment Adviser and Principal (HedgeCo.net)
HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment and more than $30 million in monetary relief in its action against Navellier & Associates, Inc., a Nevada-based investment advisory firm, and its founder and chief investment officer, Louis Navellier, of Florida. The Commission charged the defendants in federal district court in Massachusetts in August 2017 alleging that they breached their fiduciary duties and defrauded their advisory clients and prospective clients through the use of marketing materials that included false and misleading statements regarding the past performance of the firm’s Vireo AlphaSector investment strategies. The court previously granted partial summary judgment in favor of the SEC on February 13, 2020, holding that Navellier & Associates and Mr. Navellier violated the antifraud provisions of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940.
Campus Notebook: Former Rep. Chris Collins Prison Report Date Delayed Again (RollCall.com)
Former Rep. Chris Collins, who was sentenced to more than two years in federal prison in January for insider trading, will have his surrender date pushed back yet again due to the coronavirus pandemic. The New York Republican is set to report to FPC Pensacola on Aug. 18 to serve his 26-month sentence. The facility is a minimum security prison camp in Florida — about a nine-hour drive from his home in Marco Island, where his neighbor is former Speaker John A. Boehner.
