Apollo Global Grabs Griffin Capital Units in the Push to Reach Wealthy Individuals (Opalesque)
Apollo Global Management has agreed to acquire the U.S. wealth distribution and $5 billion asset management businesses of Griffin Capital, as it looks to boost its offerings for rich clients. Terms of the deal were not disclosed, although the private-equity giant said it expects to close in the first half of 2022 and to be breakeven to per-share earnings in 2022 and become a “meaningful” driver of earnings growth in the coming years. Griffin has “one of the only scaled distribution teams” in the U.S. exclusively focused on alternative investments. Apollo executives currently have relationships with private banks, wirehouses, registered investment advisers, and family offices.
Bridgewater’s Dalio Clarifies His Recent Comments on China (Reuters)
Dec 6 (Reuters) – Billionaire investor Ray Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, said on social media on Sunday he wanted to “clarify” comments he made last week in which he appeared to brush off human-rights abuses in China.
Third Point Posts Large Monthly Loss (Institutional Investor)
Dan Loeb has lived and died with private and newly public companies this year. Dan Loeb’s Third Point suffered a big setback in November. Third Point Offshore Fund lost nearly 7 percent, while Third Point Investors Limited, a feeder fund into Third Point Offshore, lost 7.7 percent for the month, according to the hedge fund firm’s November monthly report.Even so, the two funds are still…
American Hedge Fund Elliott Advisors ‘Has Eye on Housebuilder Taylor Wimpey’ (The Times)
The board of Taylor Wimpey has been put on alert after it emerged that an activist investor was building a stake. Elliott Advisors, the American hedge fund that has been lobbying for board changes at GlaxoSmithKline, has built a small stake. The housebuilder, one of Britain’s biggest, operates from 23 regional businesses in the UK and constructs homes ranging from flats to six-bedroom houses. The company, which has been led by Pete Redfern, 51, since 2007, built about 15,500 homes in 2019 and is expected to complete about 14,000 homes this year.
Monday 12/6 Insider Buying Report: OPEN, PETQ (Nasdaq.com)
On Thursday, Opendoor Technologies’ Director, Pueo Keffer, made a $2M buy of OPEN, purchasing 137,533 shares at a cost of $14.51 a piece. Opendoor Technologies is trading up about 3.9% on the day Monday. Before this latest buy, Keffer bought OPEN on 5 other occasions during the past year, for a total investment of $4.98M at an average of $16.38 per share.And on Wednesday, Chief Executive Officer Mccord Christensen bought $1.00M worth of PetIQ, buying 50,000 shares at a cost of $20.09 a piece. Before this latest buy, Christensen made one other buy in the past twelve months, purchasing $1.00M shares for a cost of $20.09 each. PetIQ is trading off about 4.2% on the day Monday. So far Christensen is in the green, up about 14.1% on their buy based on today’s trading high of $22.92.
The Chief Scientific Officer of Arbutus Biopharma (NASDAQ: ABUS) is Selling Shares (Analyst Ratings)
On December 3, the Chief Scientific Officer of Arbutus Biopharma (ABUS), Michael J Sofia, sold shares of ABUS for $1.02M. Based on Arbutus Biopharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.34 million and GAAP net loss of -$19,158,000.
