Hedge Fund and Insider Trading News: Marshall Wace, Starboard Value LP, Elliott Management, North Asset Management, OTP Bank Nyrt (OTPBF), and More

Box Says Starboard Sought to Get in on KKR Deal It Criticized (Reuters)
(Reuters) – Box Inc said on Tuesday hedge fund Starboard Value LP had asked to invest in the cloud storage vendor alongside private equity firm KKR & Co Inc, despite calling it a bad deal that spurred it to launch a board challenge against the company. Starboard has criticized KKR’s $500 million convertible stock investment in Box, which was announced in April, as a “transparent act of entrenchment” by Box’s board. The activist hedge fund had pushed Box, which has a market value of $4.3 billion, to sell itself, rather than only sell a stake in itself. Box used the money it raised to buy back stock.

$55 Billion Marshall Wace Hedge Fund Joins Peers Chasing Crypto Boom (Bloomberg)
Marshall Wace is raising a new fund to start betting on digital assets, joining hedge fund peers in targeting the boom in demand for cryptocurrencies and related technologies. The London-based investment firm, which manages about $55 billion, is in talks with investors to raise capital for a digital finance cross-over strategy, according to a person with knowledge of the matter. The initiative is being overseen by Amit Rajpal, the firm’s chief executive.

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MN: Elliott’s Policy, Gaps to Fill and the Hope of ‘Gifts’ from Other Clubs – Milan’s Summer Strategy (SempreMilan.com)
Elliott Management are looking for ‘gifts’ from other top clubs rather than preparing for huge investments this summer, a report claims. The latest from MilanNews writes that the policy of the American hedge fund and the financial health of the club means they are forced to think more about the economic budget than the technical one. Therefore, the new purchases will be ‘gifts’ from others, either loaned or sold outright by Real Madrid, Ajax or Chelsea. The names that are currently in circulation are Olivier Giroud (34) and Hakim Ziyech (28) of Chelsea, Isco (29) of Real Madrid and above all Dusan Tadic (32) of Ajax.

Hedge Fund Manager North Asset Management Selects SIGTech’s Quant Platform to Launch Systematic Investment Fund (Hedge Week)
Leading hedge fund manager North Asset Management (North) has selected SIGTech, a provider of next-gen quant technology for global investors, to support the firm’s expansion strategy into systematic investing. North currently manages seven funds that focus on foreign exchange, macro and fixed income. The firm has identified systematic as a new area for growth. North Asset Management is an independent alternative asset manager based in London. Founded in July 2002, the firm has a highly experienced, award-winning team with a strong risk management culture, continuously focusing on risk-adjusted returns, and commitment to transparent and detailed reporting to investors.