Crypto Hedge Fund Three Arrows Capital Plunges into Liquidation (Sky News)
Three Arrows Capital, a cryptocurrency-focused hedge fund, has plunged into liquidation, deepening the crisis engulfing the global digital assets sector. Sky News has learnt that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle Davies.
Who is Michael Hintze? The Tory Funder and Climate Sceptic about to be Made a Lord (Big Issue)
Hedge fund billionaire Michael Hintze is about to become a controversial member of the House of Lords, according to the Sunday Times. Following two by-election defeats, the resignation of Tory Party chairman Oliver Dowden, and a disastrous address at a Conservative fundraising dinner at the Victoria and Albert Museum, Boris Johnson is about to make its most prominent Tory donor, Sir Michael Hintze, a member of the House of Lords, according to a Sunday Times report over the weekend.
Bill Ackman Urges Fed to ‘Act Decisively to Kill Inflation’ (Biz.Crast.net)
Billionaire hedge fund manager Bill Ackman on Twitter Tuesday morning reiterated recent calls for the Federal Reserve to intervene aggressively to reduce inflation. Ackman’s latest tweet comes a day after a major economic report showed US consumers have the most pessimistic economic outlook in nearly a decade.
Photo by Austin Distel on Unsplash
Sustainable Investment Awards 2022 (Environmental-Finance.com)
Hedge Fund Manager of the Year: Brevet Capital. Brevet Capital has deployed a significant amount of capital over the past year to support innovative growth companies working on environmental solutions. This includes companies providing products and services in the following areas: renewable energy, energy efficiency, green mining, agriculture, waste management and emissions reduction. Key investments include Linecrest and NT Bullion, which have scaled up production of iron-ore in Northern Australia. It now has plans to expand to Western Australia and is working with Brevet to identify other technologies which could be adapted for use at mine sites.
St. Petri Readying Launch of Long-Only Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Danish boutique asset manager St. Petri Capital is readying the launch of its long-only European small-cap fund in the second half of 2022. Scheduled to launch in September or October, the fund will be managed by Ivan Larsen, a long-time small-cap-focused portfolio manager at Danske Bank Asset Management who joined St. Petri Capital as partner this year, and investment analyst Johann Grøndahl.
Citadel’s Ken Griffin Loses $50 Million Bet in Billionaire Bout for Illinois Governorship (The Wall Street Journal)
CHICAGO — Hedge-fund billionaire Ken Griffin lost his $50 million bet in the Illinois Republican primary for governor Tuesday after the suburban mayor he helped lift out of relative obscurity lost to a staunch conservative who benefited from Democratic advertising. Darren Bailey, a southern Illinois farmer and state senator endorsed last weekend by former President Donald Trump, was declared the GOP winner by the Associated Press. He will face Democratic Gov. J.B. Pritzker, a billionaire and the nation’s wealthiest elected official, on November’s ballot.
Hedge Fund Viking Global Seeks to Raise $1 Billion to Back Cash-Hungry Startups (Bloomberg)
Viking Global Investors is raising a structured equity fund, joining the likes of Coatue Management in seeking to provide capital to cash-hungry startups, a move that may help private companies delay raising money at lower valuations amid tumultuous public markets. Viking has begun conversations with prospective investors about the vehicle, which will be led by its head of credit, Patrick Dowd, according to people familiar with the matter.
Short Seller Chanos Targeting Data Centres (Hedge Week)
“Legacy” data centres are attracting the attention of short seller Jim Chanos as the face growing competition from the tech giants that to data have been their biggest customers, according to a report by The Financial Times. Chanos, most famous for predicting the Enron collapse over 20 years ago, is said to be seeking several hundred million dollars a for a new fund that will bet against US real estate investment trusts (REITs) that own big server warehouses. While the data centre market is currently buoyant on the back of a global expansion in cloud computing, Chanos’ thinking is that the world’s biggest cloud service providers – Amazon Web Services, Google, and Microsoft Azure – will prefer to construct their own facilities than rent space elsewhere, providing tough competition for the likes of Digital Realty Trust and Equinix.
Texas Hedge Fund Expects Further Volatility in Energy Markets (Opalesque)
The war in Ukraine has generated a sharp increase in energy prices and significant volatility in European energy markets. Asia-Pacific economies are facing an energy crisis that threatens to worsen in coming months and reach historic proportions if the war continues. Coordinating with the International Energy Agency, the G7, during their 26-28 June annual summit, said they would explore measures to reduce price surges and prevent effects to economies and societies globally. But the consequences of sanctions and potential price caps have yet to be fully comprehended.
AC Milan Investor Sues to Block Elliott’s $1.3 Billion Sale (Bloomberg)
A minority investor in Italy’s AC Milan is pushing to block the 1.2 billion-euro ($1.3 billion) sale of the storied football team to US-based RedBird Capital Partners. Blue Skye Financial Partners said hedge fund Elliott Investment Management engaged in “behind closed doors” negotiations to sell the club in breach of its minority rights. Blue Skye is seeking documents from a US court ahead of an imminent Luxembourg legal action to annul the sale or obtain damages, it said in a New York filing.
Michael Burry: Tesla Layoffs an Ominous Sign for White-Collar Workers (New York Post)
Recent reports of layoffs at Tesla are an ominous sign for white-collar workers nationwide, “Big Short” investor Michael Burry predicted on Wednesday. Burry argued that blue-collar workers will stay in hot demand in a labor market that has remained tight so far despite a looming recession – while office workers could face job and salary losses.
Wednesday 6/29 Insider Buying Report: SKIL, CAMP (Nasdaq.com)
On Tuesday, Skillsoft’s Chief Financial Officer, Gary W. Ferrera, made a $108,270 buy of SKIL, purchasing 30,000 shares at a cost of $3.61 a piece. Skillsoft Corp is trading down about 2.8% on the day Wednesday. This purchase marks the first one filed by Ferrera in the past year. And also on Tuesday, CEO Jeffery R. Gardner bought $96,600 worth of CalAmp, buying 20,000 shares at a cost of $4.83 each. Before this latest buy, Gardner purchased CAMP at 5 other times during the past twelve months, for a total cost of $187,195 at an average of $6.04 per share. CalAmp is trading down about 6.7% on the day Wednesday. Investors have the opportunity to bag CAMP at a price even lower than Gardner did, with the stock changing hands as low as $4.31 at last check today — that’s 10.8% below Gardner’s purchase price.
First DOJ NFT Insider Trading Charges Mark New Enforcement Era (Bloomberg)
The first indictment for an insider trading scheme involving non-fungible tokens (NFTs) shows how the DOJ and the NFT community worked together and will need to continue cooperating, explain Wilson Elser attorneys John Cahill, Jana S. Farmer, and William H. Behr. They describe how the case also may provide clarity on whether NFTs should be categorized as securities.
This Insider Just Refilled His Platter with ARKR Stock (Tip Ranks)
Story Highlights: One of Ark Restaurants’ insiders has been loading up on its shares. Let’s find the transaction details in this article. Thomas Satterfield, who owns a 10% stake in Ark Restaurants Corp. (NASDAQ: ARKR), has made an informative purchase of $449,120 worth of the company’s shares. This is after he bought ARKR stock worth $136,289 a fortnight ago.
