Wall Street is ‘Funding’ Russia’s War Machine: Hedge Fund Manager (Fox Business)
Hayman Capital Management founder and CIO Kyle Bass joined “Mornings with Maria,” Wednesday and warned that Wall Street is “funding” Russia’s war machine. He also suggested that the Biden administration “needs to get serious” about sanctioning Vladimir Putin during his invasion of Ukraine.
Elliott Management Back Nick Candy Bid for Chelsea Football Club (Si.com)
Nick Candy’s bid to buy Chelsea Football Club has now received backing from Elliott Management, according to reports. The Blues have been up for sale since the beginning of the month, with the news coming just a week before current owner Roman Abramovich was sanctioned by the UK Government. Raine Group are overseeing the sale of the west London side, with a number of parties believed to have shown interest in a potential acquisition.
Third Point Trims SentinelOne, Its Largest Long (Institutional Investor)
The move comes after Dan Loeb’s hedge fund firm sharply reduced its stake in Upstart Holdings in the fourth quarter. Third Point has begun to pare back its largest long position.On March 17, the hedge fund firm headed by Dan Loeb sold 405,000 shares of cyber security company SentinelOne for an average price per share of between $35.53 and $36.85, according to a regulatory filing.
Origo Continues Quest with Long-Only Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Stockholm-based hedge fund manager Origo Fonder is expanding its fund offering with the launch of Origo SELEQT, a long-only equity fund investing in Nordic micro- and small-sized companies. Based on the Origo model fixated on active management, long-term commitment and a clear focus on value drivers, Origo SELEQT will invest in attractively valued and growing small companies in the Nordic region with market values below €2 billion.
Broker TP ICAP Shares Jump 11% After U.S. Hedge Fund Urges Sale (Reuters)
March 23 (Reuters) – Shares of the world’s largest inter-dealer broker TP ICAP jumped as much as 11% on Wednesday after U.S. hedge fund Phase 2 Partners asked the British company to explore a sale. Phase 2 Partners, which holds 7.7 million shares in the TP ICAP, urged the London-listed company to look for a new ownership structure through a potential sale or merger with another global trading platform.
How Viking Global Became the Hedge-Fund Industry’s Hottest Launch Pad (Business Insider)
Since Dan Sundheim‘s massively successful launch of D1 Capital in 2018, there have been six more spinoffs from Viking Global that have collectively raised billions — and at least two more are in the works. Among them: Grant Wonders, 31, who launched Voyager Global last year, raising over $1 billion. Funds on the way include Divya Nettimi’s Avala Global, which is expected to raise more than $1 billion, and 30-year-old Jeff Butler’s unnamed firm, which is in the process of raising money.
Activist Fund Oasis Backs Call for Toshiba to Solicit Buyout Offers – Source (Reuters)
SYDNEY/TOKYO, March 23 (Reuters) – Hong Kong-based activist fund Oasis Management has voted in favour of a shareholder proposal demanding Toshiba Corp solicit buyout offers from private equity firms, a source with direct knowledge told Reuters on Wednesday. Oasis joined a chorus of other hedge fund investors who have opposed the Japanese conglomerate’s plan to break itself up and called on the company to look at alternatives ahead of an extraordinary meeting on Thursday.
London Sees 500 New Hedge Funds Since 2019 (Hedge Week)
More than 500 hedge funds have been set up in London since 2019, according to a report by City AM. Data released by SigTech reveals that the the UK is second only to the US which has 67 per cent of the global share of hedge funds. New York alone is now home to almost 7,000.
Hedge Fund Up 3,000% in Five Years Can’t Buy Enough China Stocks (Bloomberg)
Just as worries from the fallout of Russia’s invasion of Ukraine and surging Covid cases pummel Chinese stocks, a local hedge fund that jumped almost 30 times over the past five years by picking undervalued shares is ready to dive in. Guangdong Zhengyuan Private Fund Investment Management Co., which saw its assets surge fivefold from the start of last year to about 14 billion yuan ($2.2 billion) now, is planning to raise money again next month as stock valuations become increasingly attractive, founder and fund manager Liao Maolin said.
Wednesday 3/23 Insider Buying Report: DSGN (Nasdaq.com)
On Monday, Director Arsani William purchased $474,680 worth of Design Therapeutics, purchasing 25,000 shares at a cost of $18.99 each. Before this latest buy, William bought DSGN on 2 other occasions during the past year, for a total cost of $14.62M at an average of $19.75 per share. Design Therapeutics is trading up about 0.5% on the day Wednesday. Bargain hunters can pick up DSGN even cheaper than William did, with shares trading as low as $17.67 in trading on Wednesday — that’s 6.9% below William’s purchase price.
Executives Buy Around $39M Of 4 Stocks (Benzinga)
Eastman Kodak Company: The Trade: Eastman Kodak Company KODK Director David Chene acquired a total of 2,684,872 shares at an average price of $5.77. To acquire these shares, it cost around $15.48 million. GMS: The Trade: GMS Inc. GMS 10% owner Christopher Shackelton acquired a total of 235,569 shares at an average price of $54.46. To acquire these shares, it cost around $3.77 million.
