Pantera Capital Loses Another Senior Exec as Crypto Hedge Fund’s CFO Departs: Source (Coin Desk)
The executive exodus from cryptocurrency hedge fund and venture-capital investor Pantera Capital continues. Chief Financial Officer Ryan Davis is leaving, according to a person with knowledge of the matter. Matt Gorham, a Pantera strategic adviser with ties to the 19-year-old company dating back to its pre-crypto days, will fill in for him during the search for a permanent replacement, said the person, who added that Davis will remain with Pantera during a temporary transition period.
EQT Raises $2.43bn for Maiden European Growth Fund (Opalesque)
Swedish private equity firm EQT has raised a new €2.4bn ($2.43bn) fund, the largest first-time growth fund based in Europe. Total commitments include funds raised from EQT employees and the EQT Network, which are not fee-generating, according to an announcement from the GP. “Final close above EUR 2 billion target underlines the attractiveness of EQT Growth’s thematic and active approach to investing in European growth-stage tech firms,” said a press release from the Stockholm-based global investment organization.
Tuesday 9/13 Insider Buying Report: SWK (Business Insider)
On Monday at Stanley Black & Decker, there was insider buying on Thursday, by Director Robert J. Manning who bought 30,000 shares for a cost of $85.50 each, for a trade totaling $2.57M. This buy marks the first one filed by Manning in the past year. Stanley Black & Decker is trading down about 2.4% on the day Tuesday. Manning was up about 5.4% on the purchase at the high point of today’s trading session, with SWK trading as high as $90.14 at last check today.
Marriott And 3 Other Stocks Insiders Are Selling (Benzinga)
The Trade: Marriott International, Inc (MAR) Director Eric Hippeau sold a total of 13,987 shares at an average price of $158.77. The insider received around $2.22 million from selling those shares. TJX Companies: The Trade: The TJX Companies, Inc. (TJX) CEO and President Ernie Herrman sold a total of 50,282 shares at an average price of $65.90. The insider received around $3.31 million from selling those shares.
Hudson Advisors and Lone Star Global Charged for Failing to Disclose Fund Fees Included $50 Million in Tax Liability (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against registered investment advisers Hudson Advisors L.P. and Lone Star Global Acquisitions Ltd. for including Hudson’s owner’s anticipated income tax liability as a component of certain fees charged to 14 private equity funds they managed. Hudson and Lone Star Global have agreed to pay $11.2 million in civil penalties and have reimbursed the affected funds $68.5 million, which includes interest on the undisclosed tax liability charges. According to the SEC’s order, between at least 2005 and 2017, Hudson included $54.6 million of its owner’s anticipated U.S. tax liability in fees charged to the funds. By law, these tax liabilities were payable by the owner rather than by Hudson.
