Hedge Fund Sachem Head Urges Arconic to Sell Itself – Sources (Reuters)
Sachem Head Capital Management has amassed a stake in Arconic Corp (ARNC.N) and has been pushing the U.S. aluminum sheet maker to go through with a process it has launched to sell itself, according to people familiar with the matter. Arconic has been in talks with private equity firms, including Apollo Global Management Inc (APO.N), about selling itself, the sources said, at a time when securing debt financing for leveraged buyouts has become challenging following this month’s jitters in the banking sector.
Karen Karniol-Tambour (Barron’s)
So far this year, Karen Karniol-Tambour has a lot to be excited about. She was named co-chief investment officer at Bridgewater, making her the first woman to hold the title at the hedge fund. “There is nothing more exciting,” Karniol-Tambour, 37, tells Barron’s, reflecting on her 17 years at the firm. “Bridgewater is where I grew up and learned about markets.” She holds the title with Greg Jensen and Bob Prince.
CABA Becomes a Signatory of UN PRI (Hedge Nordic)
Danish fixed-income fund boutique CABA Capital has become a signatory of the UN Principles for Responsible Investment (PRI), thereby affirming its commitment to promoting environmental, social and governance (ESG) factors in its investment activities. CABA Capital currently runs two hedge fund vehicles with a little over DKK 1 billion in assets under management. “As we progress on our sustainability journey, we are delighted to share that CABA Capital has officially become a signatory of the UN Principles for Responsible Investment (PRI),” announces Mette Østerbye Vejen (pictured right), CEO and co-founder of CABA Capital. “The PRI is globally recognized as the primary advocate for responsible investment, and as CABA Capital continues to grow, we are thrilled to affirm our commitment to these principles.”
Image By Monkey Business – Adobe
Ackman’s Win Streak Cools as Rates Pull Back (The Wall Street Journal)
Bill Ackman’s hot streak cooled in the first quarter as bank turmoil reversed an increase in interest rates the hedge-fund manager successfully bet on last year. Mr. Ackman’s Pershing Square Holdings returned 0.3% year-to-date through March 21, according to an annual letter to shareholders released late Wednesday. That compares with a return of 4.7% over the same period for the S&P 500.
Proctor and Gamble Stocks Momentum Trade Idea: How to Play the Long Term Trend Accelerating Higher (FX Street)
According to AQR the quantitative hedge fund and Yale University, over the past 100 years markets moved in trends. Trends are successive upwards and downwards movements in price that occur at a greater frequency than would be predicted by randomness alone. The following trade idea is a momentum trade idea which takes the assumption that the market will continue moving in the way it has over the previous sessions. momentum trading, is different than trend trading due to the time horizon of the trade as momentum trades will happen intraday or over the course of a single session while trend trading is done over the course of a week or more.
The Alpha Diversified Fund Ends 2022 on a Positive Note by Focusing on Boutique Managers (Opalesque.com)
Since 2013, portfolio manager Mark Kress has been consulting for multi and single family offices on custom absolute return portfolios. Now, he’s launched his own fund-of-funds, building on what he’s learned. The Alpha Diversified Fund is the flagship strategy of his investment firm Alpha Wealth Funds and is a portfolio of boutique hedge fund managers that can be used singularly as a complete hedge fund allocation or alongside other existing hedge fund allocations in a broader portfolio. Kress tells New Managers that he wanted to build a product that relied on boutique managers because smaller hedge funds typically generate higher investment returns. “I think the data is pretty empirical that small and nimble funds tend to do better,” he says. “The issue with smaller funds is that investors often don’t want to take on the volatility or the risk. But if you’re constructing a portfolio through a risk management lens you can invest with boutique managers in such a way that you aren’t opening yourself up to extreme volatility.”
‘Their Playbook is Simple:’ Waltham 3D Printing Company Sues Hedge Funds (Boston Business Journal)
A 3D-printing company that in recent months had tried to buy Burlington-based Desktop Metal Inc. is suing a group of hedge funds that it claimed conspired to get control of the company and its cash reserves and allegedly evaded disclosure requirements. Nano Dimension Ltd. (Nasdaq: NNDM), an Israel-based manufacturer with U.S. headquarters in Waltham, is suing Murchinson Ltd., Anson Advisors Inc., Boothbay Fund Management and their affiliated entities.
Israel Englander Net Worth: Fortune Explored as Hedge Fund Billionaire Pays $1 Billion to Ex-wife (SK POP)
Israel Englander and his former wife, Caryl Englander, recently settled their divorce on a few terms. The billionaire has agreed to pay $1 billion to Caryl following their split after being married for 40 years. The duo separated as Caryl was attracted to another woman, Dominique Levy, a gallerist. Page Six reported that Caryl filed a lawsuit in February 2023, claiming that Israel was angry when she fell in love with Levy. Caryl and Dominque claimed that Israel terrorized them by forcing Caryl to sign a post-nuptial agreement through which he could earn billions.
Friday 3/31 Insider Buying Report: ETNB, ALOT (Nasdaq.com)
On Tuesday, 89bio’s , Michael R. Hayden, made a $1.08M purchase of ETNB, buying 87,788 shares at a cost of $12.28 a piece. Hayden was up about 33.2% on the buy at the high point of today’s trading session, with ETNB trading as high as $16.36 in trading on Friday. 89bio is trading up about 6.8% on the day Friday. This buy marks the first one filed by Hayden in the past year. And at AstroNova, there was insider buying on Thursday, by Director Alexis P. Michas who purchased 36,876 shares at a cost of $12.95 each, for a total investment of $477,477. AstroNova is trading up about 1.9% on the day Friday. So far Michas is in the green, up about 12.7% on their purchase based on today’s trading high of $14.59.
$18.5M Bet On Southwest Gas? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Southwest Gas: The Trade: Southwest Gas Holdings, Inc. (SWX) 10% owner Icahn Partners Master Fund LP acquired a total of 307,530 shares an average price of $60.30. To acquire these shares, it cost around $18.54 million. SL Green Realty: The Trade: SL Green Realty Corp. (SLG) Chief Financial Officer Matthew J Diliberto acquired a total of 10,000 shares at an average price of $16.44. To acquire these shares, it cost around $164.4 thousand. The company’s Chief Legal Officer & GC also bought the company’s shares.
