Glenview Posts Solid Results in a Tough First Quarter (Institutional Investor)
Larry Robbins’ main hedge fund and little-known healthcare fund have so far managed to stay in the black for the year. Glenview Capital Management was obviously doing something right in the first quarter of 2022. The hedge fund headed by Larry Robbins posted a 5.9 percent gain in its main fund, Glenview Capital Partners, for the three-month period, even after losing a little less than 1 percent in March, according to…
Angelo Gordon Appoints Global Head of Client Partnership Group (Hedge Week)
Alternative investment firm Angelo Gordon has appointed Alan Isenberg, former Head of Product Strategy and Marketing at Neuberger Berman, as Global Head of its Client Partnership Group. In this role, he is responsible for leading the firm’s worldwide client and product functions, including new business development, client coverage, product development and management, and client service.
St. Petri Partners up for New Launch (Hedge Nordic)
Stockholm (HedgeNordic) – Danish asset manager St. Petri Capital plans to launch a long-only European small-cap equity fund managed by its new partner, Ivan Larsen. Larsen managed a European small-cap equity fund under the umbrella of Danske Bank Asset Management until he departed from the asset manager in 2020 after 21 years with the firm. “We are pleased to announce that we have welcomed Ivan Larsen as a new Partner at St. Petri Capital,” announces St. Petri Capital on LinkedIn. “Ivan will manage a long-only European small-cap fund that we expect to launch during 2022,” adds the Copenhagen-based hedge fund manager. “Ivan is a very skilled manager of European equities, and his knowledge and experience will become a big asset to the St. Petri team.”
Chicago Financier Ken Griffin Gives $40 Million to N.Y. Museum (Philanthropy)
The Richard Gilder Center for Science, Education, and Innovation at the American Museum of Natural History is scheduled to open next winter. Kenneth Griffin gave the American Museum of Natural History $40 million to support the Richard Gilder Center for Science, Education, and Innovation, which is scheduled to open next winter. A four-story atrium space within the new center will be named for Griffin.
Opalesque Roundup: Hedge Funds Record $10bn Net Inflows in February: Hedge Fund News, Week 12 (Opalesque)
In the week ending April 1st 2022, eVestment reported that after starting 2022 with net investor redemptions, hedge funds bounced back in February with investors pouring $10 billion in new money into the business. After January’s outflows, year-to-date asset flows to the business now stand at +$7.95 billion. Hedge fund managers were down -0.26% in February – recording their second consecutive month of outperformance against the S&P 500 which slipped -3.14% during the month. Nearly half of global hedge funds have posted positive returns in February while around 43.0% of them have maintained positive performance over the first two months of the year.
Macellum Presses Kohl’s for More Transparency in Sales Process-Letter (Reuters)
BOSTON, April 4 (Reuters) – Activist investment firm Macellum Advisors GP LLC on Monday urged Kohl’s Inc (KSS.N) to be more open about its sales process, urging the retailer to give bidders and shareholders a fuller financial picture of itself. The firm, in a letter to the board, asked the company to say when it plans to accept final bids and explain how much access potential buyers have to management and data to shape their offers. It also asked Kohl’s to pre-release first-quarter financial results before next month’s annual meeting.
Meet the Investor Who is Sticking with Russia (Financial News)
Russian stocks crashed after Vladimir Putin waged war on Ukraine. That’s when David Amaryan started buying. Investors were dumping anything Russian, and the hedge-fund manager was happy to take the other side of the trade. He snapped up shares of energy giants Rosneft, Lukoil and Gazprom. He bought banks – including Russia’s largest lender, Sberbank – and some local retailers and mining companies.
Tiger Global’s 34% Tumble Brings Coleman’s Firm Back to Earth (Bloomberg)
In his 20s, he was a hedge-fund wunderkind. By his 40s, a hedge-fund legend. But suddenly, Chase Coleman is stumbling, and hard. After a tough 2021, his Tiger Global Management has piled up losses this year that have set the industry abuzz — a staggering 34% slump for the firm’s hedge fund through March. The speed of the reversal has shocked just about everyone, considering that Coleman is celebrated as one of his generation’s brightest stars, a standout among the elite money managers mentored by the famed Julian Robertson.
Insider Trading: April 4, 2022 (BIV.com)
Insider Norman Bell Keevil, officer. Company: Teck Resources Ltd. (TSX:TECK). Shares owned: 4,220,004. Trade date: March 18. Trade total: $4,220,004. Trade: Sale of 85,426 shares at a price of $49.40 per share. Insider Daniel Joseph Daviau, officer. Company: Canaccord Genuity Group Inc. (TSX:CF). Shares owned: 537,794. Trade date: March 22. Trade total: $1,216,000. Trade: Acquisition of 100,000 shares at a price of $12.16 per share.
Monday 4/4 Insider Buying Report: GRVI, HPQ (Nasdaq.com)
At Grove, a filing with the SEC revealed that on Wednesday, Gene Salkind purchased 125,000 shares of GRVI, at a cost of $4.00 each, for a total investment of $500,000. So far Salkind is in the green, up about 34.7% on their buy based on today’s trading high of $5.39. Grove is trading trading flat on the day Monday. And on Thursday, Director Bruce D. Broussard bought $249,723 worth of HPQ, buying 6,810 shares at a cost of $36.67 each. This purchase marks the first one filed by Broussard in the past year. HPQ is trading up about 1% on the day Monday. Bargain hunters can grab HPQ even cheaper than Broussard did, with the stock changing hands as low as $35.73 at last check today — that’s 2.6% below Broussard’s purchase price.
Executives Buy Over $30M Of 3 Stocks (Benzinga)
Armata Pharmaceuticals: The Trade: Armata Pharmaceuticals, Inc. (ARMP) 10% owner Innoviva Strategic Opportunities Llc acquired a total of 5,385,208 shares at an average price of $5.00. To acquire these shares, it cost around $26.93 million. Sensient Technologies: The Trade: Sensient Technologies Corporation (SXT) 10% owner Freemont Capital Pte Ltd acquired a total of 29,015 shares at an average price of $84.80. To acquire these shares, it cost around $2.46 million.
Elon Musk’s Latest Twitter Adventure (The New York Times)
The Tesla chief bought a big stake in the social media company. What’s his plan? Shares of Twitter soared 25 percent in premarket trading on news that Elon Musk had personally bought a 9.2 percent stake in the social media company, making him its largest shareholder. The stake, revealed in a regulatory filing, was amassed before Musk criticized Twitter in – yes – a series of tweets, questioning the company’s commitment to “free speech” and wondering whether a new social media platform was needed. With more sway over the company, will he try to reinvent Twitter to be more to his liking?
