CEO Confirms George Soros’ Family Office Owns Bitcoin (ETF Trends)
Soros Fund Management, the family office of billionaire investor and philanthropist George Soros, has recently been confirmed as owning bitcoin by its CEO/CIO Dawn Fitzpatrick, reports The Block. There had been reports by anonymous sources earlier this year that Soros Fund was trading in bitcoin, and now Fitzpatrick has confirmed in an interview with Bloomberg that the company does indeed own some bitcoin. The company is familiar with investing within the crypto space, having previously invested in NYDIG, a financial services and technology firm that specializes in bitcoin, and Lukka, a blockchain data technology company, but this is the first foray into actual cryptocurrency investment.
Hedge Fund Manager Hohn Steps Up Campaign Over Banks’ Fossil-Fuel Loans (Today UK News)
Billionaire hedge fund manager Chris Hohn has stepped up a campaign against the banking industry over its financing of fossil-fuel projects and criticised regulators for “allowing” systemic risk to build as a result. Hohn, co-founder of The Children’s Investment Fund Foundation, wrote to the Bank of England, the European Central Bank, the European Banking Authority and the US Financial Stability Oversight Council this week to propose a series of reforms.
Hedge Fund Brevan Howard Gets $3 Billion in New Cash Commitments (Bloomberg)
Brevan Howard Asset Management has received $3 billion in new cash commitments from investors in the latest sign that one of the world’s best-known macro trading firms is on track to regain its lost glory. The cash injection will lift Brevan Howard’s assets to about $20 billion, more than triple the amount they had shrunk to three years ago, according to people familiar with the matter, who asked not to be identified because the details are private. The firm, co-founded by billionaire Alan Howard, once ran more than $40 billion but suffered persistent outflows during years of mediocre returns.
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Billionaire Mike Novogratz Says Jamie Dimon’s Stance on Bitcoin is Sophomoric (Business Insider)
Billionaire Mike Novogratz has dismissed Jamie Dimon’s opinion about bitcoin being “worthless.” The JPMorgan boss has long been a bitcoin skeptic, and reiterated his distrust in the cryptocurrency on Monday, despite the bank becoming the first to give retail wealth clients access to crypto funds. “So strange. For a man who has done a brilliant job running a giant bank, his answers around $BTC are sophomoric and he keeps doubling down on them,” Novogratz said in a tweet late Monday. “I pray I stay open-minded my whole life.”
Blackstone, Citadel, Man Group Top List of Best Marketers in the Alts World (Institutional Investor)
Four months ago, Blackstone’s president and chief operating officer, Jonathan Gray, was seen on LinkedIn highlighting the firm’s initiatives on environmental issues, diversity, and inclusion and improving communities. “We think of ourselves at Blackstone as a mission-driven company,” he asserted. It’s one of many videos Gray has participated in, with other clips talking about everything from the firm’s quarterly performance to its philanthropic efforts and evolving investment strategies.
Hedge Funds Eye “Potent” Anti-Viral Covid-19 Drug Molnupiravir (Hedge Week)
The development of molnupiravir, a “potent” oral anti-viral Covid-19 treatment, could help boost flagging consumer stocks reliant on the global economic reopening, as healthcare-focused hedge funds look to rebound following recent losses. US multinational pharmaceutical manufacturer Merck’s new drug – which is designed to help reduce Covid-19 symptoms for people with Covid-risk factors including age, obesity, and diabetes – offers “great potential” to fully re-open the global economy, Man Group noted in market commentary on Tuesday.
Hedge Fund Assets Under Management Growing (Pensions & Investments)
Three out of the four main hedge fund strategies tracked by HFR ended June with more than $1 trillion of assets under management. Equity hedge funds, which include equity market-neutral, growth, value and quantitative strategies, had more than $1.2 trillion of assets. Event-driven strategies, such as credit arbitrage, merger arbitrage,and activist, followed closely behind with $1.1 trillion of assets, while relative value had a shade over $1 trillion. Macro lagged with $644 billion in assets.
Activist Hedge Fund Bluebell Wants Glaxo Chairman Replaced (Bloomberg)
Activist hedge fund Bluebell Capital Partners has asked GlaxoSmithKline Plc to replace its chairman as well as chief executive officer, piling further pressure on the drugmaker.
Hubilo Raising $125 Million from U.S. Hedge Fund, Existing Investors (Reuters)
SINGAPORE (Reuters) – Hybrid events platform company Hubilo said it is raising $125 million in a private funding round, backed by new investor U.S.-based hedge fund Alkeon Capital and existing investors Lightspeed Venture Partners and Balderton Capital. Since Hubilo started out as an events tech firm in India in 2015, its co-founders Vaibhav Jain and Mayank Agarwal have steered the company’s aggressive growth in digital events after physical events were scrapped due to the COVID-19 pandemic and Hubilo’s revenue dwindled.
Monday 10/11 Insider Buying Report: EVRG, IBRX (Nasdaq.com)
On Wednesday, Evergy’s Director, C. John Wilder, made a $2.51M purchase of EVRG, buying 39,872 shares at a cost of $62.91 each. Investors can snag EVRG even cheaper than Wilder did, with shares changing hands as low as $61.34 in trading on Monday which is 2.5% under Wilder’s purchase price. Evergy Inc is trading down about 0.9% on the day Monday. Before this latest buy, Wilder bought EVRG on 4 other occasions during the past twelve months, for a total cost of $121.94M at an average of $50.62 per share. And at ImmunityBio, there was insider buying on Friday, by CEO & President Richard Adcock who bought 1,930 shares at a cost of $8.81 each, for a total investment of $16,995. ImmunityBio is trading up about 10.2% on the day Monday. So far Adcock is in the green, up about 12.3% on their purchase based on today’s trading high of $9.89.
The Chairman of Facedrive Inc (Other OTC: FDVRF) is Selling Shares (Analyst Ratings)
Today, the Chairman of Facedrive Inc (FDVRF), Junaid Razvi, sold shares of FDVRF for $476.5K. In addition to Junaid Razvi, 19 other FDVRF executives reported Sell trades in the last month. Over the last month, Junaid Razvi has reported another 3 Sell trades on FDVRF for a total of $1.67M. Based on Facedrive Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $5.8 million and GAAP net loss of -$7,559,851.
Notable Sprout Social Insider Trades $2.3M In Company Stock (Benzinga)
Justyn R. Howard, Chairman And CEO at Sprout Social (NASDAQ:SPT), made a large buy and sell of company shares on October 8, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Justyn R. Howard exercised options to purchase 20,000 Sprout Social shares for $0 on October 8. They then sold their shares on the same day in the open market. They sold at prices ranging from $111.99 to $118.23 to raise a total of $2,296,488 from the stock sale. Howard still owns a total of 171,341 shares of Sprout Social worth, $19,709,355.
