Billionaire Ken Griffin has Now Contributed $50 Million to Richard Irvin’s Campaign for Governor (Chicago Tribune)
Hedge-fund billionaire Ken Griffin has upped his investment in Republican governor candidate Richard Irvin to $50 million, with an additional $5 million contribution reported Tuesday. The latest infusion of cash to Irvin came shortly after Democratic Gov. J.B. Pritzker launched an attack ad late last week contending that Griffin’s support for Irvin was the result of Irvin’s actions as mayor of Aurora to push through a project important to the hedge-fund investor’s high-frequency trading business, Citadel Securities. Griffin is founder and CEO of the Citadel investment firm.
Segantii Capital’s ex-bankers are still hiring in Hong Kong (eFinancialCareers)
To most investment banks Segantii Capital Management is known as one of the most active hedge funds in Hong Kong, where it’s a go-to fund for banks looking to trade in Asia. That could change after it was claimed that Bank of America and Citi suspended trading with the fund, which was launched by ex-banker Simon Sadler in 2007. According to the FT, Bank of America and Citigroup suspended equity trading with Segantii Capital Management, due concerns about the hedge fund’s bets on the sale of large blocks of shares. The banks were said by the FT to be reducing their exposure to Segantii as US authorities have launched an investigation into block trading at several Wall Street financial institutions.
Hedge Fund Excalibur Sees Chance of a Half-Point Riksbank Rate Hike in June (Bloomberg)
Inflation data shows alternative scenario more likely: manager. Rising inflation rate is adding pressure for faster rate hikes. A Swedish hedge fund manager who correctly predicted the timing of the Riksbank’s return to a positive policy rate said the central bank may ramp up the speed of tightening at its next meeting.
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Greenlight Kept the Pedal to the Metal in May (Institutional Investor)
David Einhorn’s recently embattled firm is enjoying its best year in recent memory. David Einhorn remained on a roll last month.The value-oriented hedge fund manager’s Greenlight Capital posted a 4.8 percent gain in May and is now up 20.9 percent for the year, according to a person who has seen the results.
Hintze’s CQS Closes Internal Fund on Back of Outflows (Hedge Week)
A CQS fund that invests across a rage of internal strategies at the London-based credit hedge fund firm, is to close following significant outflows, according to a report by the Financial Times. The $20 billion firm, which was founded by billionaire trader Sir Michael Hintze and offers a range of funds that trade instruments including structured credit, convertible bonds, asset-backed securities and equities, is reported to have informed investors of its decision to wind down the CQS Diversified Fund earlier this week having seen assets shrink by roughly half to $388 million.
Next Generation of Hedge Fund Managers are Emerging More Resilient and Efficient (Opalesque)
Opalesque Industry Update, for New Managers – The Alternative Investment Management Association (AIMA), in partnership with Cowen, a global financial services firm, has published a new report presenting an analysis of the global emerging hedge fund manager community. The report, ‘Emerging Stronger: The Next Generation Manager Survey 2022’ is informed by two surveys: one of emerging managers running up to US$500 million in assets under management (AuM), and another of the investors that allocate to them.
Soros Fund Management CEO Is More Bullish on Ethereum Than Bitcoin (Crypto Potato)
Dawn Fitzpatrick – CEO and CIO at Soros Fund Management – doubled down on her pro-crypto stance, predicting the asset class is “here to stay.” She believes that climate impact will play a vital role in the industry, and as such, Ethereum “is likely to gain some more traction than Bitcoin.” Ethereum to Outperform Bitcoin? In an interview for Bloomberg, the American investment banker Dawn Fitzpatrick outlined the recent progress of the cryptocurrency sector. Specifically, she opined that “it’s gone mainstream” with Fidelity’s decision to allow investors to add bitcoin to their retirement 401(k) plans.
The ex-Citadel Technologist Hiring for Some of the Best Jobs in London (eFinancialCareers)
If you want one of the most interesting financial services technology jobs in London now, word is that they are not necessarily to be found at a bank, an electronic market maker or a hedge fund. Some of the best technology jobs are instead rumoured to be at an insurance company that was formerly the pensions insurance arm of Goldman Sachs: Rothesay Life. “Rothesay Life have been doing a lot of hiring and they’ve been hiring people who can code in Rust,” says a senior low latency developer at an electronic trading house in London. “They pay as much as some hedge funds.”
Wednesday 6/1 Insider Buying Report: ORI (Nasdaq.com)
At Old Republic International, there was insider buying on Friday, by Director Lisa J. Caldwell who bought 9,920 shares for a cost of $23.63 each, for a trade totaling $234,410. Before this latest buy, Caldwell made one other purchase in the past year, buying $14,964 shares at a cost of $25.98 each. Old Republic International is trading off about 1.3% on the day Wednesday.
Executives Sell Over $100M Of 4 Stocks (Benzinga)
McKesson: The Trade: McKesson Corporation (MCK) EVP and CFO Britt Vitalone sold a total of 27,281 shares at an average price of $333.16. The insider received around $9.09 million from selling those shares. Digital Realty Trust: The Trade: Digital Realty Trust, Inc. (DLR) EVP, Strategic Advisor David Ruberg sold a total of 75,000 shares at an average price of $138.26. The insider received around $10.37 million as a result of the transaction.
Balder’s Head of Finance Sentenced to Prison for Insider Trading (Bloomberg)
The head of finance at one of Sweden’s biggest publicly listed property firms, Fastighets AB Balder, has been handed a 15-month prison sentence for insider trading of shares, according to court documents seen by Bloomberg News. The Swedish court also ordered Marcus Hansson and ten other co-defendants to pay back a total of 2.1 million kronor ($214,000) for the series of share trades in Collector AB, a niche bank which in turn is 44.1% owned by Balder.
