Ken Griffin’s Citadel Is Moving Its Headquarters to Miami From Chicago (Bloomberg)
Ken Griffin is moving Citadel’s headquarters to Miami, leaving its current home of Chicago after the billionaire decried the city’s crime rate and voiced frustrations with political leadership in Illinois. The relocation will affect both hedge fund Citadel and Citadel Securities, the market making business, firm spokesman Zia Ahmed said Thursday. It’s the first step in a multi-year process that will involve the firm building a new office in Miami, which will serve as its global headquarters.
Hedge Fund Manager Taunts Apes With AMC Short Position: ‘I Dare All The Meme Stock Maniacs To Try To Hurt Us’ (Investing.com)
The AMC Entertainment Holdings Inc (NYSE: AMC) apes must be pounding their chests after AQR Capital Management‘s Cliff Asness called them out on Wednesday. What Happened: The hedge fund manager announced that he has a small short position in AMC on CNBC’s “Closing Bell.” If that wasn’t enough to get the attention of the retail trading crowd who call themselves apes and look to feast on short sellers like bananas, his next proposition surely provoked the primates.
Brookfield Closes Net-Zero Transition Fund at $15 Billion (Pensions&Investments)
Brookfield Asset Management closed on $15 billion for its Brookfield Global Transition Fund, one of the largest funds raised to invest in the global transition to a net-zero carbon economy, the real asset firm said in a news release Wednesday. The fund also surpassed its initial $12.5 billion initial hard cap, spokeswoman Rachel Wood said in an email.
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Quant Hedge Funds Profit from Cryptocurrency Turmoil (CryptoNewsBTC.org)
A small group of hedge funds are cashing in on turmoil within the digital asset market that has already wiped trillions of {dollars} off the entire worth of cryptocurrencies. Some computer-driven funds — which use algorithms to attempt to predict and commerce worth strikes in crypto and different markets — have picked up winnings from speedy declines in belongings reminiscent of bitcoin and luna, whilst many different traders are struggling large losses.
42% of AuM Across Private Capital is Managed by Funds That have an Active ESG Policy (Opalesque)
Opalesque Industry Update – Preqin has published its annual Environmental, Social, and Governance (ESG) report: ESG in Alternatives 2022: The Transparency Tipping Point. The report provides the latest insights on developments in what is becoming a necessary competency for private market managers that want to meet the growing expectations of investors toward evidencing ESG integration. ESG has risen to the fore in recent years, and regulations are becoming more prescriptive in what is expected of managers in private capital markets. Many investors and managers are still developing their expertise and are increasingly demanding data to evidence how ESG is being incorporated into strategy formation, deal sourcing, and execution. Preqin is the global leader in alternative assets data, tools, and insights.
Aaro Capital Appoints Chairman, Head of Investment Research, and Head of ODD (Hedge Week)
Aaro Capital, a DLT and cryptoassets investment specialist, has made three senior hires in its London office. Stuart Macdonald is joining Aaro Capital’s London-based team as chairman alongside Peter Rigg, who joins as head of investment research, and Olga Romanova, who will serve as the firm’s head of operational due diligence. As chairman, Macdonald is working to set the strategic direction of the firm, as well as focus on capital raising, brand building and product development. He is working closely with Aaro Capital’s CEO Peter Habermacher and CIO Ankush Jain to deliver on Aaro Capital’s aim of opening up the exciting and rapidly evolving DLT and cryptoassets growth story to sophisticated investors.
Bridgewater Doubles Short Wagers in Europe to $10.5 Billion (Bloomberg)
Ray Dalio’s Bridgewater Associates has built a $10.5 billion bet against European companies, almost doubling its wager in the past week to its most bearish stance against the region’s stocks in two years. The world’s biggest hedge fund firm disclosed short bets against 28 companies that include individual wagers of more than $500 million against ASML Holding NV, TotalEnergies SE, Sanofi and SAP SE, according to data compiled by Bloomberg. The total bet is up from $5.7 billion against 18 firms last week, the data shows.
Binance Refutes Giving Failed Hedge Fund Three Arrows Big Credit Line (U.Today)
As reported by Colin Wu’s Twitter handle, Binance has refuted giving a big line of credit to embattled hedge fund Three Arrows Capital, saying several firms have approached the company for bailouts. The most recent victim of the market collapse was Three Arrows Capital, a $10 billion cryptocurrency hedge fund based in Singapore. It was liquidated by many exchanges after failing to meet margin calls amid a collapse in the prices of digital currencies.
Hedge Fund Trader Shah Struck Cum-Ex Trades With DekaBank (Bloomberg Tax)
Hedge-fund trader Sanjay Shah, currently held in Dubai awaiting his extradition to Denmark over a $2 billion Cum-Ex case, apparently struck similar tax deals with Germany’s DekaBank. Shah and the former head of DekaBank’s equity finance desk are said to have collaborated on a variation of the controversial tax deal in which the transaction settlements were purposely delayed, a cooperating witness said in a 2018 interview with German prosecutors seen by Bloomberg.
Thursday 6/23 Insider Buying Report: SVRA, SYY (Nasdaq.com)
At Savara, a filing with the SEC revealed that on Wednesday, Director David A. Ramsay bought 100,000 shares of SVRA, for a cost of $1.38 each, for a total investment of $138,380. So far Ramsay is in the green, up about 8.4% on their purchase based on today’s trading high of $1.50. Savara is trading up about 0.7% on the day Thursday. Before this latest buy, Ramsay purchased SVRA at 8 other times during the past twelve months, for a total cost of $705,212 at an average of $1.16 per share. And on Tuesday, CFO Aaron E. Alt bought $80,090 worth of Sysco, buying 1,000 shares at a cost of $80.09 each. Sysco is trading up about 1.4% on the day Thursday. Bargain hunters have the opportunity to snag SYY at a price even lower than Alt did, with the stock changing hands as low as $79.06 at last check today which is 1.3% below Alt’s purchase price.
Insiders Buy Over $540M Of 2 Stocks (Benzinga)
Day One Biopharmaceuticals: The Trade: Day One Biopharmaceuticals, Inc. (DAWN) Director Michael Gladstone acquired a total of 766,667 shares at an average price of $15.00. To acquire these shares, it cost around $11.5 million. Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett acquired a total of 9,551,454 shares at an average price of $55.36. To acquire these shares, it cost around $528.79 million.
