Two Sigma Just Snapped Up a Home-Healthcare Startup, and a Partner Laid Out How it Plans to Use Its Quant Background to Grow the Business (Business Insider)
$58 billion quant hedge fund Two Sigma just scooped up a business in the booming in-home healthcare segment. The firm’s impact investing unit has acquired San Antonio, TX-based Circle of Care, a provider of in-home pediatric therapy services. A spokesperson for Two Sigma declined to share the amount invested or the company’s valuation.
Billionaire Investor Ray Dalio Shares Top 3 Tips for Entrepreneurs (ABC News)
Billionaires have established wealth and may at times oversimplify the steps it takes for small businesses to find success, but this invaluable advice from one of the world’s top hedge fund founders can help personal and community entrepreneurial growth. Ray Dalio, investor and co-chairman of investment management firm Bridgewater Associates, joined “Good Morning America” Wednesday to discuss microloans for small businesses and to offer his advice for entrepreneurs to get off the ground, grow and create success.
Oatly Accused of Overstating Revenue and Greenwashing by Activist Short Spruce Point (CNBC)
Activist short seller Spruce Point Capital Management has accused Oatly of shady accounting practices and misleading consumers and investors about its sustainability practices. The firm, which has taken a short position against the maker of oat milk, called for Oatly’s board to hire an independent forensic accountant to open an investigation into its claims.
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Asset Managers Help Supercharge Venture-Capital Sector (The Wall Street Journal)
Hedge funds and mutual funds are helping to power the venture-capital sector as it shatters many of the fundraising and deal-making records set last year. The larger role these so-called non-traditional venture investors are playing underscores the venture market’s explosive growth and increased competition within the industry that has driven up company valuations.
Special Situations Hedge Fund Sand Grove Capital Names Citi’s Caplan as CEO (Hedge Week)
Special situations hedge fund Sand Grove Capital has appointed banking veteran Daniel Caplan as CEO, as the firm looks to capitalise on soaring volumes of mergers and acquisitions and other corporate activity. Caplan joins from Citi, where he spent five years building and leading its regional sales strategy across investor services products, including prime brokerage and synthetic equity, having also focused on equities coverage for European hedge funds. Before that, Caplan was at Deutsche Bank for some 20 years, holding several roles across equities and prime brokerage, latterly as head of its EMEA Prime Finance business before joining Citi in 2015.
Brazilian Hedge Funds: Providing Attractive Risk-Adjusted Returns for Domestic Investors (Preqin)
Low interest rates have led to a flood of domestic capital moving into Brazilian hedge funds in recent years, and the sector has been successful in producing attractive risk-adjusted returns. Assets under management topped $58bn as of May 2021. Check out our latest factsheet to see the make-up and performance of the Brazilian hedge fund market, including who ranks at the top according to Preqin data.
Dan Loeb Makes Threats And Demands Meetings, He Does Not Get Threatened Or Have Meetings Demanded Of Him! (Deal Breaker)
Dan Loeb has built a career – rather a lucrative one – of finding companies whose stock price is underperforming, then bullying and browbeating them into doing what he wanted to change that ASAP, earning himself a tidy profit along the way. Of course, Loeb doesn’t have a monopoly on this strategy: It is called “shareholder activism.” And wouldn’t you know it but another fund manager has found a stock that’s worth a good deal less than it should be.
Getting High on Confidence (Hedge Nordic)
Stockholm (HedgeNordic) – With half the year already behind us, both Nordic and global hedge funds enjoyed their best first-half return since 2009. According to the latest bi-annual “Investor Intentions” report by the Alternative Investment Management Association (AIMA), more than 80 percent of investors were satisfied with the performance from their hedge fund investments in the first six months of 2021. Over a third of allocators plan to increase their hedge fund allocation in the second half of this year.
Billionaire Investor Mario Gabelli Slams Stock Promoters, Touts Batteries, and Discusses His Berkshire Hathaway Bet in a New Interview. Here are the 14 Best Quotes (Business Insider)
Mario Gabelli blasted pump-and-dump schemes on Twitter, warned that special-purpose acquisition vehicles (SPACs) vary greatly in quality, and trumpeted battery technology in a recent RealVision interview. The billionaire fund manager and head of Gamco Investors also reflected on his mistakes, advised young people to save diligently and outwork their rivals, and discussed his lucrative bet on Warren Buffett‘s Berkshire Hathaway more than 30 years ago.
A Major Shareholder at Credit Acceptance (NASDAQ: CACC) is Selling Shares (Analyst Ratings)
Yesterday, a Major Shareholder at Credit Acceptance (CACC), Jill Foss Watson, sold shares of CACC for $8.02M. Following Jill Foss Watson’s last CACC Sell transaction on December 28, 2017, the stock climbed by 124.8%. Based on Credit Acceptance’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $451 million and quarterly net profit of $202 million.
PGIM Buys Montana Capital Partners to Expand Alternative Capabilities (Opalesque)
PGIM, the global investment management business of Prudential Financial with $1.5 trillion in assets, agrees to acquire Montana Partners (MCP), a European-based private equity secondaries asset manager, to enhance PGIM’s existing alternatives offering. MCP, with $3 billion under management, focuses on secondaries transactions in small- and mid-cap markets, with investors in Europe, Asia, and the U.S. that include sovereign wealth funds, pension funds, insurance companies, banks, and family offices. It has raised five funds to date.
