Haidar Macro Hedge Fund Plunges 32% in Wild Bond Market Moves (Bloomberg)
Said Haidar is set for the biggest-ever monthly decline at his hedge fund in more than two decades as wild bond markets rock macro traders. His Haidar Jupiter fund slumped an estimated 32% this month through Friday, according to people with knowledge of the matter. The decline puts the macro strategy down 44% this year, the people said asking not to be identified because the details are private.
Bed, Bath & Beyond’s Stock Under $1, Snarling Additional Dunding (Reuters)
Shares of Bed Bath & Beyond Inc (BBBY.O) edged higher in midday trading Tuesday but the stock remained under $1, leaving the home goods retailer at risk of losing additional funding from hedge fund Hudson Bay Capital Management, a pivotal investor. Bed Bath & Beyond’s stock dropped 21% on Monday to end at 81 cents after the company late Friday said it was seeking shareholder approval for a reverse stock split. After midday Tuesday, it was up 1% at 82 cents.
Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium (Business Insider)
In November, one of the world’s most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. His replacement, Englander announced, would be Paul Russo, the equities-risk executive from Goldman Sachs who joined the $58 billion fund in 2021.
A Protest Outside Hedge Funder Dan Loeb’s UWS Building (ILoveTheUpperWestside.com)
Hundreds of protesters gathered outside hedge fund manager Dan Loeb’s residence at 15 Central Park West on Saturday over his donations to Governor Kathy Hochul and support of charter schools. Signs such as “tax the rich” were held by the protestors, some of whom held pitchforks while standing outside 15 CPW. A video shows the protesters were met by a building manager who told them they were trespassing on private property, but they did not appear deterred.
Source: pexels
Deerpath Capital Secures $1.5bn for Sixth Flagship Fund (Opalesque.com)
New York-based private debt manager Deerpath Capital Management closed sixth private credit fund with $1.5 billion of equity capital commitments from investors. The provider of customized, cash-flow-based senior debt financing to lower-middle market companies across diverse industries said in a press release that Fund VI is part of Deerpath Capital’s senior debt financing platform, which has deployed approximately $9 billion since the firm’s inception in 2007. Combined with debt financing for its levered investment vehicles, Deerpath secured more than $2.8 billion in total capital available for deployment, a fundraising record for the firm, it said.
Tepper Bets on SVB Debt (Hedge Week)
Distressed debt investor David Tepper is betting that the value of Silicon Vally Bank parent SVB Financial Group’s debt will rise as parts of the group are auctioned off, according to a report by the Financial Times. Unnamed FT sources have revealed that Tepper, who has a successful track record in investing in troubled financial companies, acquired SVB bonds along with preferred stock via Appaloosa Management, which for the most part manages his family’s multibillion-dollar fortune.
-Institutional Investors More Than Doubled Their Hedge Fund Allocations Last Year (Institutional Investor)
Here’s a look at last year’s biggest allocators — and the top hedge fund recipients. Institutional investors more than doubled their allocation to hedge funds in 2022, to $16.6 billion from $8 billion in 2021, according to the third annual Alternatives Watch Research Investor Compendium, commissioned by Vidrio Financial.
Report: Hedge Fund Admitted P&ID Made Unlawful Payments to Nigerian Officials in 2021 Lawsuit (TheCable.ng)
VR Capital, a hedge fund firm, says payments made to Nigerian officials by Process & Industrial Developments (P&ID) violated the law, Semafor Africa is reporting. VR Capital, a major stakeholder in P&ID, made the allegation in a separate lawsuit against “business partners it bought its stake in the company from”. Nigeria is seeking to overturn a 2017 arbitration award of $6.6 billion plus interests in favour of P&ID, over a failed gas supply and processing agreement (GSPA).
Tuesday 3/21 Insider Buying Report: HIPO, ARLP (Nasdaq.com)
On Monday, Hippo Holdings’ Director, Noah Knauf, made a $3.01M buy of HIPO, purchasing 208,531 shares at a cost of $14.43 a piece. Knauf was up about 7.5% on the purchase at the high point of today’s trading session, with HIPO trading as high as $15.51 in trading on Tuesday. Hippo Holdings is trading up about 8.5% on the day Tuesday. This buy marks the first one filed by Knauf in the past twelve months. And on Friday, PRESIDENT AND CHIEF EXECUTIVE Joseph W. Craft III bought $2.75M worth of Alliance Resource Partners, buying 148,741 shares at a cost of $18.49 each. This buy marks the first one filed by Craft III in the past twelve months. Alliance Resource Partners is trading up about 1.1% on the day Tuesday. So far Craft III is in the green, up about 6.8% on their purchase based on today’s trading high of $19.74.
Over $7M Bet On This Consumer Defensive Stock? Check Out These 4 Penny Stocks Insiders Are Buying (Benzinga)
Whole Earth Brands: The Trade: Whole Earth Brands, Inc. (FREE) 10% owner Sababa Holdings Free LLC acquired a total of 2,600,000 shares at an average price of $2.93. To acquire these shares, it cost around $7.63 million. What’s Happening: Whole Earth Brands reported better-than-expected Q4 sales results. What Whole Earth Brands Does: Whole Earth Brands Inc is engaged in the manufacturing of zero/low sugar and calorie sweeteners as well as reduced-sugar products.
