Hedge Fund Odey Takes Short Position Against Deliveroo After Disastrous IPO (CityA.M.)
Odey Asset Management has taken a short position against Deliveroo after a disastrous start to the delivery firm’s London IPO. Odey fund managers James Hanbury and Jamie Grimston took the bet on Deliveroo’s first day of trading, according to investor documents seen by the Financial Times. Deliveroo made its debut on 31 March with a 390p offer price before plunging as much as 30 per cent, wiping £2bn off its valuation. Shares have continued to fall and is now trading at around 227p.
$21 Billion Hedge Fund D1 Capital has been on a Private Investing Spree. Here are 24 Companies It’s Backed in 2021 from Unicorns Like Squarespace to Corporate Card Startup Ramp. (Business Insider)
Hedge fund D1 Capital Partners, run by billionaire Dan Sundheim, is continuing to ramp up its private market bets — having invested in at least 24 private companies in 2021 so far. The $21 billion hedge fund has been making private investments in startups since its launch in 2018. Popular among fellow Tiger Cub firms Tiger Global and Coatue Management, private investing continues to take the hedge fund world by storm this year.
Credit Suisse Taps Investors for Cash After Archegos Loss Widens (The Wall Street Journal)
Credit Suisse Group AG asked investors for up to $2 billion in fresh capital after losses from Archegos Capital Management swelled more than previously disclosed, highlighting the damage caused by the collapse of the New York investment firm. The Swiss banking giant has been buffeted by the twin crises of the Archegos loss and the collapse of another client, Greensill Capital.
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Hedge Fund Performance Monitor: March 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark gained +2.32% in March, building on February’s gains of 3.12%. This is the sixth consecutive month of positive performance for the asset class, pushing the 2021 YTD figure to +7.81%, and the 12-month return to +41.52%. Read our Performance Monitor for a look at how equity, credit, and macro strategies performed in March. The Monitor presents hedge fund performance benchmarks, plus the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.
Ray Dalio Gives Employees a Personality Test—Here’s One Dalio Created that You Can Take for Free (CNBC)
Billionaire Ray Dalio believes in the usefulness of personality assessments — he has used a number of different personality tests for recruitment and management purposes at his hedge fund, Bridgewater Associates. Now, with the help of expert psychologists, including organizational psychologist and bestselling author Adam Grant, Dalio has developed a new online personality assessment that anyone can take for free.
Hedge Fund IPM Closes After Losing $4 Billion in Pandemic (Bloomberg)
Informed Portfolio Management, a Swedish hedge fund that had relied on statistical models to devise its strategies, is set to shut its doors and return investor capital after losing roughly $4 billion during the pandemic. IPM, whose main owner is Stockholm-based investment firm Catella AB, had assets under management of close to $5 billion in late 2019, before the pandemic hit. A year later, that amount had more than halved to $2 billion, with the investor exodus since then depleting assets to about $750 million.
Finding New Ways of Navigating the Changing Landscape (Hedge Week)
Enko Capital: Best Credit Hedge Fund — Hedge funds must find creative ways of demonstrating their skill and ability to solve the issues their clients face. The infrastructure they employ will also be thrown into the foreground as the sector steels itself to face the challenges ahead. “As hedge funds continue to adapt to changes caused by Covid-19, the infrastructure firms employ will have to continue to be relevant and sufficient. Alongside this, firms will have to keep up with the increased levels of reporting and regulatory requirements that institutional investors expect,” comments Craig Stanley, CFA, Chief Operating Officer, Enko Capital. In fact, from an operational standpoint, the firm has deepened and extended its operational and IT infrastructure to ensure the team is able to work remotely for as long as necessary.
Two Sigma Takes Quant Expertise into Real Estate Investing (Pensions&Investments)
Two Sigma is starting a group to invest in private real estate assets as the $58 billion quant firm seeks to expand its data-science expertise into non-public markets. Rich Gomel, most recently managing partner of WeWork’s real estate investment platform, has joined as chief investment officer of Two Sigma Real Estate, the company said. Tom Hill will be chief executive officer. It will be part of the firm’s $3 billion private investment business, which Mr. Hill also leads.
2nd Circuit Wants Devil’s Advocate in Deerfield Insider Trading Case (Reuters)
A federal appeals court in New York has delayed reconsideration of two former Deerfield Management Co partners’ criminal case so it can appoint an attorney to defend the court’s prior opinion upholding their insider trading convictions, which both prosecutors and defendants have said should be largely overturned in light of a recent Supreme Court ruling. A three-judge panel of the 2nd U.S. Court of Appeals had been scheduled on Wednesday to rehear the case, which turned on whether information from the Centers for Medicare & Medicaid Services (CMS) could be considered property under fraud and conversion statutes, but postponed the hearing in an order late Friday.
Thursday 4/22 Insider Buying Report: AGL, TSP (Nasdaq.com)
On Monday, Agilon Health’s Director, Clay Richards, made a $499,100 buy of AGL, purchasing 21,700 shares at a cost of $23.00 a piece. So far Richards is in the green, up about 43.9% on their purchase based on today’s trading high of $33.10. Agilon Health is trading up about 0.9% on the day Thursday. And at Tusimple Holdings, there was insider buying on Monday, by Director Karen C. Francis who purchased 7,142 shares at a cost of $40.00 each, for a trade totaling $285,680. This buy marks the first one filed by Francis in the past year. Tusimple Holdings is trading down about 0.8% on the day Thursday. Investors have the opportunity to buy TSP even cheaper than Francis did, with shares changing hands as low as $37.41 in trading on Thursday — that’s 6.5% below Francis’s purchase price.
The President & Chief Executive Officer of Midwest Energy Emissions (Other OTC: MEEC) is Selling Shares (Analyst Ratings)
Yesterday, the President & Chief Executive Officer of Midwest Energy Emissions (MEEC), Richard Alan Macpherson, sold shares of MEEC for $599.5K. In addition to Richard Alan Macpherson, one other MEEC executive reported Sell trades in the last month. MEEC’s market cap is $83.72 million and the company has a P/E ratio of -14.40. Currently, Midwest Energy Emissions has an average volume of 242.56K. The company has a one-year high of $1.85 and a one-year low of $0.05.
Medpace Holdings Inc (MEDP) President & CEO August J. Troendle Sold $4.7 million of Shares (Guru Focus)
President & CEO of Medpace Holdings Inc, August J. Troendle, sold 26,094 shares of MEDP on 04/20/2021 at an average price of $181.94 a share. The total sale was $4.7 million. Medpace Holdings Inc is a clinical contract research organisation. It is engaged in providing scientifically-driven clinical research-based drug and medical device development services to the biotechnology, pharmaceutical and medical device industries.
