Hedge Funds Trim 2022 Losses with 3.46% November Gain (Hedge Week)
The hedge fund industry was up 3.46% in November, according to the Barclay Hedge Fund Index compiled by BarclayHedge, trimming YTD losses to -6.51%, as many funds rode the swell of bullish sentiment in both equity and fixed income markets that continued throughout the month. The S&P 500 Total Return Index advanced 5.59% during the month while the S&P Global Developed Bond Index was up 4.73%. The hedge fund industry continued to better the year-to-date performance of the S&P 500 Total Return Index, which remained down -13.10% over the year-to-date period.
Caroline Ellison, Former Alameda Chief, and Gary Wang, FTX Cofounder, Each Pleaded Guilty to Multiple Charges and are Cooperating with Feds (CNN)
Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night. Gary Wang, the co-founder of FTX, and Caroline Ellison, who served as CEO of the hedge fund Alameda Research, pleaded guilty to multiple counts of conspiracy and fraud for their roles in the fraud scheme that led to the collapse of the crypto-trading platform.
BTG Capital Closes Maiden Fund on C$74.2 Million (Opalesque.com)
BTG Capital Inc., a Calgary-based private equity manager, has closed its debut fund BTG Energy Infrastructure Partners on C$74.2 million. Investors for the fund were entirely sourced from within Canada. The fund will make investments in the Canadian energy infrastructure sector. It is currently focused on midstream, power and energy transition platform investments. BTG Capital was founded by energy veterans C. Brett Stevenson, Gable T. Gross and Tom W. Buchanan in November of 2020.
New Wave of Nordic EuroHedge Nominations (Hedge Nordic)
Stockholm (HedgeNordic) – With Intelligence has released the second round of nominations for the EuroHedge Awards 2022. Eight additional Nordic hedge funds joined the list of nominations to bring the total number of Nordic nominees to 15. The final shortlist for the EuroHedge Awards 2022 will be confirmed in January with the release of the final round of nominations. The winners, determined based on a combination of Sharpe ratios and absolute returns, will be presented at an awards ceremony in London on February 9.
Thursday 12/22 Insider Buying Report: CTM, HRZN (Nasdaq.com)
At Castellum, a filing with the SEC revealed that on Tuesday, Director Emil Kaunitz purchased 5,585 shares of CTM, at a cost of $5353.00 each, for a total investment of $29.9M. Bargain hunters are able to grab CTM at a price even lower than Kaunitz did, with the stock trading as low as $1.18 in trading on Thursday — that’s 100.0% below Kaunitz’s purchase price. Castellum is trading up about 3% on the day Thursday. Before this latest buy, Kaunitz made one other purchase in the past year, buying $95.03M shares at a cost of $9317.14 a piece. And also on Tuesday, President Gerald A. Michaud purchased $201,298 worth of Horizon Technology Finance, purchasing 18,250 shares at a cost of $11.03 a piece. Before this latest buy, Michaud purchased HRZN on 2 other occasions during the past year, for a total cost of $88,383 at an average of $12.54 per share. Horizon Technology Finance is trading off about 1.2% on the day Thursday. So far Michaud is in the green, up about 3.3% on their purchase based on today’s trading high of $11.39.
$7.5 Million Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Victory Capital Holdings: The Trade: Victory Capital Holdings, Inc. (VCTR) Chairman and CEO Craig David Brown acquired a total of 60,000 shares an average price of $26.97. To acquire these shares, it cost around $1.62 million. Williams Rowland Acquisition: The Trade: Williams Rowland Acquisition Corp. (WRAC) Director, Co- Chief Executive Officer, David B. Williams acquired a total of 741,921 shares at an average price of $10.20. To acquire these shares, it cost around $7.56 million.
