Lead Edge Capital Lands Nearly $2bn Tech-Focused Fund for Growth-Equity Bets (Opalesque)
New York City-based growth equity investment firm Lead Edge Capital (LEC) raised $1.95 billion for its largest fund to date, Fund VI, to make bets on software, internet, consumer, and tech-enabled service companies. The technology-focused growth stage investment fund said in a press release that it has an investor base of over 500 limited partners and institutions. The pool follows a $950 million fund that Lead Edge closed in October 2020 – also from around 500 investors – and which brought the firm’s assets at the time to $3 billion. The addition of Fund VI brings the firm’s total capital raised since inception to $5 billion.
Hedge Funds Trim YTD Losses to -3.36% with 0.39% Gain in March (Hedge Week)
The hedge fund industry got back to monthly gains in March, eking out a 0.39% return for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P Total Return Index gained 3.71% in March. For the year to date, the hedge fund industry was down -3.36% through March, losing slightly less ground than the S&P 500 Total Return Index, which was off -4.60% over the same period.
EGO – The Blockchain Hedge Fund (GlobeNewswire)
Los Angeles, CA, April 10, 2022 (NEWSCALL) — Equitable Growth Opportunity, or EGO, is transforming the cryptocurrency marketplace by offering investors the education to not only understand the mechanics behind their project, but to use that knowledge and promote their own financial growth. EGO is the first Investing as a Service protocol to offer a sustainable 30% APR per month through staking while trading during a fixed set of hours. This is the second cryptocurrency to adopt New York Stock Exchange trading hours and will launch on the Binance Smart Chain (BSC) network on Monday, April 11, 2022, at 9:30 a.m. EST. With education, transparency, and sustainability as its core values, the team behind EGO brings innovation to the world of digital currency.
Pixabay/Public Domain
Viking Global Investors to Relocate NYC Office (Hedge Week)
Hedge fund Viking Global Investors is planning to move to a new 100,000 sq ft office at 660 Fifth Avenue in Manhattan, according to a report by Bloomberg. The report says that while the move has yet to be finalised, Viking has decided to quit its current home at 280 Park Avenue because it needs more space than the 60,000 sq ft it currently occupies. The firm increased hiring during the pandemic and last year started assembling a new credit investing team as well as fund focused solely on private company investments.
Hedge Funds Eye U.S. Bond Boost After Bruising Q1: McGeever (Reuters)
ORLANDO, Fla., April 11 (Reuters) – For the U.S. bond market, the first quarter was marked by historically high volatility and the poorest performance in decades. Hedge funds scored badly, and will be hoping for a better showing in the second quarter. U.S. futures market positioning in the first week of the new quarter showed that funds generally got it right on the move up in short-dated rates and yields, but didn’t anticipate the spike higher in the 10-year yield.
Sanctions, ESG and Digital Assets: Cayman Islands Central to Future Economy, says Chancery Advisors (PRNewswire.com)
LONDON, April 11, 2022 /PRNewswire/ — Chancery Advisors Ltd (Chancery), the London-based go-to law firm for many of the world’s leading hedge funds and investment banks, has today announced the launch of ChanceryESG, based in the Cayman Islands. Dan Harris, a founding partner of Chancery Advisors who counsels many of the world’s hedge fund billionaires, believes the time is right to offer joined-up thinking on ESG, digital asset transactions and sanctions. He commented: “The siloed nature of most law firms prevents them from making the connection between ESG, digital asset transactions and sanctions. In practical terms, all three impact what, with whom, and how clients do business in the real economy and in the financial markets. They are increasingly part of the same conversation.”
Friday 4/8 Insider Buying Report: LOVE, EAST (Nasdaq.com)
At Lovesac, a filing with the SEC revealed that on Wednesday, Director Walter Field McLallen bought 5,000 shares of LOVE, for a cost of $49.56 each, for a total investment of $247,815. Lovesac is trading up about 1.3% on the day Friday. And on Tuesday, CEO Geoffrey C. Gwin purchased $196,720 worth of Eastside Distilling, purchasing 200,000 shares at a cost of $0.98 a piece. Eastside Distilling is trading up about 12.5% on the day Friday. Gwin was up about 33.2% on the purchase at the high point of today’s trading session, with EAST trading as high as $1.31 in trading on Friday.
Insider Trading: April 11, 2022 (BIV.com)
Insider James A. Pattison, 10% owner. Company: Westshore Terminals Investment Corp. (TSX:WTE). Shares owned: 3,814,377. Trade date: March 28. Trade total: $18,473,928. Trade: Acquisition of 558,800 shares at a price of $33.06 per share. Insider Eric S. Sprott, 10% owner. Company: First Majestic Silver Corp. (TSX:FR). Shares owned: 22,165,240. Trade date: March 25. Trade total: $1,922,800. Trade: Sale of 110,000 shares at a price of $17.48 per share.
Michael Grimm Purchases $5.66 Million Worth Of Energy Transfer & Other Notable Insider Buys (Benzinga)
Notable Insider Buys: 1. Energy Transfer LP: $11.23: Director Michael K. Grimm acquired 504,600 shares of this energy-related services provider, paying $11.21 per share for a total amount of $5.66 million. These shares were purchased indirectly by a family limited partnership and Mr. Grimm’s children. 2. Alphabet Inc. GOOG: $2680.21. Shares of Alphabet were sold by 2 insiders: SVP, Chief Business Officer Philipp Schindler sold 3,907 shares for $2840.03, generating $11.09 million from the sale. Senior Vice President Prabhakar Raghavan sold 1,276 shares for $2816.49, generating $3.59 million from the sale.
JELD-WEN Holding Pops Up After $11.3M of Insider Buying (Seeking Alpha)
JELD-WEN Holding (NYSE:JELD) rose 4% in early trading on Monday after the major shareholder Turtle Creek Asset Management bought $11.3M worth of shares. In the latest SEC filing, Turtle Creek reported it has purchased 584,000 shares of JELD-WEN Holding at a price range of $18.44-$20.31 each through the multiple transactions executed last week.
