Post Road Group Raises Over USD300m for Second Credit Opportunity Fund (Hedge Week)
Post Road Group (Post Road), an alternative investment firm focused on middle-market corporate strategies and real estate, has closed the Post Road Special Opportunity Fund II LP with total capital commitments of more than USD300 million, exceeding the Fund’s target. SOF II received significant backing from existing Post Road limited partners as well as new investors globally, including pension funds, fund of funds, university endowments, private foundations, and family offices.
Evergreen Funds: Hold Forever (Preqin)
Sequoia Capital, one of the most successful and prominent venture capital firms in the world, is consolidating all future investments through an evergreen fund with an open-ended structure. Announced in October last year, the Sequoia evergreen fund will be a liquid portfolio with a series of sub-funds for venture investments. The fund structure is a radical departure from the conventional 10-12-year investment cycle, which forces fund managers to seek timely exits. Instead, Sequoia will recycle returns to its central fund.
Bally’s Stock Soars on Buyout Offer From Hedge Fund (Barron’s)
Stock in the casino operator Bally’s skyrocketed after the hedge fund Standard General offered to buy all the shares outstanding for $38 each. Bally’s stock was surging 23% to $35.96.The offer represents a premium of 30% to the company’s closing price on Monday. Bally’s (ticker: BALY) didn’t immediately respond to a request for comment from Barron’s.
How a Hedge Fund Is Moving Beyond Its Charismatic Founder (Institutional Investor)
The hedge fund firm founded by George Weiss 40 years ago is the getting an overhaul. Weiss Multi-Strategy Advisers, with $4 billion in assets, is formally rebranding around its “human plus machine” approach to investment decisions, all-out transparency, and footprint in the retail and financial adviser market.
Tuesday 1/25 Insider Buying Report: NILE, CAMP (Nasdaq.com)
On Friday, BitNile Holdings’ Executive Chairman, Milton C. Ault III, made a $91,959 purchase of NILE, buying 105,000 shares at a cost of $0.88 a piece. Bargain hunters can bag NILE at a price even lower than Ault III did, with the stock trading as low as $0.78 at last check today which is 11.1% below Ault III’s purchase price. BitNile Holdings is trading trading flat on the day Tuesday. And at CalAmp, there was insider buying on Monday, by Chief Financial Officer Kurtis Joseph Binder who bought 13,500 shares for a cost of $5.38 each, for a total investment of $72,630. This purchase marks the first one filed by Binder in the past twelve months. CalAmp is trading up about 5.9% on the day Tuesday. Binder was up about 7.6% on the purchase at the high point of today’s trading session, with CAMP trading as high as $5.79 at last check today.
Lux Industries Tanks 20% After SEBI Bans Executive Director for Insider Trading (Investing.com)
Investing.com — Shares of the innerwear company Lux Industries (NS:LUXI) tanked 20% on Tuesday to Rs 2,813.7 apiece after the markets regulator SEBI banned the company’s executive director, Udit Todi on account of insider trading on Monday. Sebi banned a total of 14 entities for insider trading on Monday and ordered Lux Industries to confiscate ill-gotten gains worth Rs 2.94 crore.
