Fund Size and Performance: Venture Capital (Preqin)
To help LPs analyze the effects of different fund sizes on performance, we have put together a six-part series spanning the private capital asset classes: private equity, venture capital, private debt, real estate, infrastructure, and natural resources. The first in the series looks at venture capital. Is small beautiful or is bigger better?
It’s a Feel-Good Scam! Aswath Damodaran’s Warning on a Hot Investment Theme (The Economic Times)
NEW DELHI: Even as billions of dollars are being poured into stocks of companies that rank higher on environmental, social and governance (ESG) parameters, valuation guru Aswath Damodaran has described it as nothing but a feel-good scam that is neither helping investors nor making the world a better place to live in. “I believe that ESG is, at its core, a feel-good scam that is enriching consultants, measurement services and fund managers, while doing close to nothing for the businesses and investors it claims to help, and even less for society,” Damodaran wrote in his blog.
Why Pershing Square Star Manager Bill Ackman is Opting for ‘The Quiet Life’ (SharesMagazine.co.uk)
Billionaire investor Bill Ackman, who forged his reputation as a vocal corporate agitator, now plans to work mainly behind the scenes with management and adopt a ‘quieter approach’ to force through change. Having delivered three years of strong double digit returns, the famed US hedge fund manager has informed investors that as corporate America already knows who he is, there is no need for Pershing Square to resort to the ‘noisiest’ form of activism, namely activist short selling, which Ackman previously delved into at nutrition company Herbalife.
Thursday 3/31 Insider Buying Report: OXY, RFIL (Nasdaq.com)
On Monday, Occidental Petroleum’s CEO, Vicki A. Hollub, made a $798,102 purchase of OXY, buying 14,191 shares at a cost of $56.24 each. So far Hollub is in the green, up about 5.3% on their buy based on today’s trading high of $59.22. Occidental Petroleum is trading up about 1.1% on the day Thursday. This purchase marks the first one filed by Hollub in the past twelve months. And on Tuesday, Director Mark Keith Holdsworth bought $360,135 worth of RF Industries, buying 50,000 shares at a cost of $7.20 each. Before this latest buy, Holdsworth bought RFIL on 4 other occasions during the past year, for a total investment of $657,680 at an average of $7.23 per share. RF Industries is trading up about 2.4% on the day Thursday. Holdsworth was up about 1.4% on the buy at the high point of today’s trading session, with RFIL trading as high as $7.30 in trading on Thursday.
Executives Buy More Than $132M Of 3 Stocks (Benzinga)
Cricut: The Trade: Cricut, Inc. CRCT 10% owner Colin Moran acquired a total of 80,000 shares at an average price of $12.51. To acquire these shares, it cost around $1 million. Invesco: The Trade: Invesco Ltd. IVZ 10% owner Trian Fund Management LP acquired a total of 3,529,920 shares at an average price of $23.04. To acquire these shares, it cost around $81.33 million.
