Citadel Reinforces its Position in Asos with Light on the Horizon (The Times)
A hedge fund founded and controlled by an American billionaire has increased its stake in Asos, the online fashion retailer once fêted as a stock market star. Ken Griffin’s Citadel, which manages about $43 billion in assets and is one of the industry’s biggest players, has lifted its stake in the group to just above 5 per cent, according to a stock exchange filing. Citadel has been investing in the business for some time through different financial instruments, but under stock exchange rules shareholders that accumulate a 5 per cent stake or more in a public company are required to disclose their position.
John Paulson’s Piano Man Gig Pays Off With Steinway IPO (Bloomberg)
The hedge fund manager has been a sensitive owner of the legendary keyboard maker and its share sale should deliver him a long-overdue payday Hedge fund boss John Paulson made $20 billion for himself and clients betting against the U.S. housing market in 2008 but subsequently struggled to repeat that success. With his net worth pared back to less than $5 billion, Paulson & Co. returned what remained of investors’ cash in 2020. Now, he’s finally poised to strike paydirt again thanks to an unusual wager on an underappreciated gem — Steinway Musical Instruments Holdings Inc.
Hedge Funds Lure Biggest Inflow in Seven Years in First Quarter, Data Provider Says (Reuters)
NEW YORK, April 22 (Reuters) – Investors poured $19.8 billion into hedge funds in the first quarter, the biggest inflow of money since the second quarter of 2015, lured by gains some funds are posting amid volatile markets, according to data provider HFR.
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Global Long/Short Equity Hedge Fund Gains Double-Digits Through Inflation (Opalesque)
A global long/short equity strategy, which deploys long-term capital into small and mid-cap ideas in out-of-favour segments of the market, has returned about 22% in the last 12 months through well-thought-out exposures. London-based Eschler Asset Management LLP, the manager of that strategy, is an independent investment practice modelled on the original Buffett Partnership. The managers, who invest heavily in it, look for resilient businesses in capital-constrained markets. Eschler’s founder Theon de Ris will present at the Manager Discovery Panel webinar on Tuesday May 3rd, at 11 am ET.
MSCI Questions Suitability of Short-Selling to Achieve ESG Investing Aims (Hedge Week)
MSCI Inc has questioned the hedge fund industry’s assertion that short-selling is an effective strategy to implement environmental, social and governance investing, according to a report by Bloomberg. Rumi Mahmood, vice president of ESG and climate fund research at MSCI is quoted as saying that there is no evidence to support the claim that shorting a company with a poor ESG record will raise it’s cost of capital and that, in fact, short-selling goes against the grain when attempting to align investor interests with good corporate conduct due to a lack of transparency.
Satori Capital Announces Launch of Energy Transition Fund (BusinessWire)
DALLAS & FORT WORTH, Texas–(BUSINESS WIRE)–Satori Capital, a multi-strategy investment firm, announced today the launch of Satori Environmental, a long/short equity strategy that primarily invests in securities impacted by the global energy sector’s shift from fossil-based systems to renewable sources. Satori Environmental actively manages a diversified portfolio of long and short positions intended to capitalize on the complex and dynamic forces driving the global energy transition.
AKJ Named Best Hedge Fund Platform for 6th Time (PRNewswire)
LONDON, April 22, 2022 /PRNewswire/ — AK Jensen Investment Management Limited, the leading provider of trading and investment solutions for fund managers and professional investors, has won the HFM European Services Awards 2022 for Best Hedge Fund Platform. This marks the sixth time in the past seven years that AKJ has received this award. AKJ first developed its hedge fund platform in 2012, providing a full-service offering for fund managers including fund formation, legal and regulatory infrastructure, trading systems, back-office support, and seed capital. The company expanded into digital assets in 2016.
SEC Begins Scoping Out Emissions (Preqin)
SEC proposes historic mandates that would require companies of select sizes to disclose scope 1, 2, & 3 emissions. The US Securities and Exchange Commission (SEC) proposed its first major regulation that would require registered public and private companies to disclose their greenhouse gas (GHG) emissions. These proposals, published in March, seek to standardize climate-related reporting for investors. If adopted – and lobby groups and companies have been quick to raise objections – the SEC would require companies to disclose their GHG emissions to investors, potentially in their Form D filing.
Thursday 4/21 Insider Buying Report: TPL, ADVM (Nasdaq.com)
On Tuesday, Texas Pacific Land’s Director, Murray Stahl, made a $26,613 purchase of TPL, buying 18 shares at a cost of $1478.50 each. Texas Pacific Land is trading down about 3.1% on the day Thursday. Before this latest buy, Stahl bought TPL on 255 other occasions during the past year, for a total cost of $7.86M at an average of $1365.82 per share. And at Adverum Biotechnologies, there was insider buying on Tuesday, by Peter Soparkar who purchased 21,925 shares at a cost of $1.14 each, for a total investment of $24,994. Before this latest buy, Soparkar made one other purchase in the past year, buying $47,750 shares at a cost of $1.91 each. Adverum Biotechnologies is trading trading flat on the day Thursday.
Insiders Buy More Than $15M Of 3 Stocks (Benzinga)
Confluent: The Trade: Confluent, Inc. (CFLT) 10% owner Altimeter Capital Management General Partner Llc acquired a total of 133,683 shares at an average price of $38.21. To acquire these shares, it cost around $5.11 million. Excelerate Energy: The Trade: Excelerate Energy, Inc. (EE) President and CEO Steven Kobos acquired a total of 265,258 shares at an average price of $24.00. To acquire these shares, it cost around $6.37 million.
