Hedge Fund and Insider Trading News: Michael Hintze, Bastion Capital, Gersemi Asset Management, Antares Capital, Black Diamond Therapeutics, Inc. (BDTX), and More

CQS Explores Selling Parts of $15 Billion Fund Business (Bloomberg)
Billionaire Michael Hintze’s CQS is exploring options including selling part of its asset-management business, according to people with knowledge of the matter. The London-based firm is working with an adviser to gauge potential interest, said the people, who asked not to be identified because the talks are private. CQS is considering a range of transactions including divesting a stake or selling one or both of its long-only and asset backed securities businesses that now make up the bulk of its more than $15 billion in assets.

Hannisdahl’s New Shipping Fund Sets Sail (Hedge Nordic)
Stockholm (HedgeNordic) – Shipping specialist Joakim Hannisdahl has set sail on his own with the launch of a new long/short shipping hedge fund under his asset management firm, Gersemi Asset Management. Having worked in equity research in shipping for a number of years, Hannisdahl aimed to become the world’s top shipping analyst and leverage his experience to enter the investment management arena.

UK Watchdog Fines Bastion Capital for Facilitating Solo Group ‘Cum-Ex’ Trades (Reuters)
Bastion Capital London, a now-defunct broker that traded over 70 billion pounds ($90 billion) worth of Danish and Belgian stocks for hedge fund Solo Group clients, has been fined for serious crime control failings in the latest London “cum-ex” crackdown. In the fifth penalty meted out over so-called cum-ex trading, Britain’s Financial Conduct Authority (FCA) on Thursday ordered Bastion Capital to pay a 2.45 million pound fine for failing to manage the risk of being used as a vessel for fraudulent trading and money laundering.

Pressmaster/Shutterstock.com

Hedge Funds’ Long-Term Crypto Interest Remains Robust Even as Proportion Investing Drops: PwC (Coin Desk)
The proportion of traditional hedge funds investing in crypto assets declined in the past 12 months though the long-term outlook remains positive, according to a new report by Big Four accounting firm PricewaterhouseCoopers (PwC). The percentage of funds with crypto exposure fell to 29% from 37% in 2022, according to the Global Crypto Hedge Fund Report. No traditional hedge funds plan to decrease their exposure this year, it said.

Warren Buffett’s Boring Investing Advice That 99% Of People Should Follow (DataDrivenInvestor)
Every morning when I eat breakfast, I turn my phone’s volume to just slightly below the max and play an audiobook from my Audible account. The most recent book I have been listening to is The Essays of Warren Buffett: Lessons for Corporate America by Warren E. Buffett, compiled by Lawrence A. Cunningham. In listening to the thoughts and philosophies of Warren Buffett, I am constantly reminded of his investment advice that the average person would follow.