Tiger Global was Top Dealmaker in a Record Quarter for Venture Capital, as Investments Exceeded $150 Billion (CNBC)
If it seems as if you’ve seen Tiger Global’s name on a venture deal every day of late, there’s a reason for it — the firm averaged 1.3 deals a day in the second quarter. According to a new report from research firm CB Insights, Tiger increased its investments in the latest period by eightfold from the same quarter a year earlier to 81. Andreessen Horowitz was the second-most-active investor in the quarter at 64 deals, followed by Sequoia at 62 and Accel at 60.
Cheyne Capital Opens New Paris Office (Hedge Week)
Alternative asset manager Cheyne Capital Management (UK) (Cheyne) has opened a new office in Paris – the firm’s fifth office in Europe and its eighth globally. Stuart Fiertz, Co-Founder, President & Head of Responsible Investment at Cheyne Capital, says: “Since 2018, our private credit investment teams have continued to see more and more interesting opportunities in Europe and particularly in France, so opening an office in Paris was the natural next step. Being in close proximity to those we finance is important to us and we look forward to growing our presence in the country further.”
Hedge Fund Citadel Hiring from Rival Funds as Some Exit (eFinancialCareers.com)
Citadel has been hiring from rival funds in London as some long-serving staff leave. The fund is understood to have recruited Sean Murphy, a former JPMorgan M&A associate and event driven analyst at London-based Carlson Capital as an equities portfolio manager. It’s also hired Brian Johnston from Wellington Management as an FX portfolio manager. At the same time, filings on the Companies House website suggest some longstanding senior staff have disappeared. Jonas Diedrich, for example, had his partnership terminated on July 1st. Diedrich had been a portfolio manager at the firm for 13 years. Christopher Wheeler, another portfolio manager and partner, left on June 9th. Bloomberg previously reported Wheeler’s exit in March.
Bridgewater Launches Sustainability Fund Amid Increasing Demand for Impact Investing (Institutional Investor)
Bridgewater Associates is the latest firm to create a sustainability focused fund. The world’s largest hedge fund firm launched Bridgewater All Weather Sustainability, LP earlier this month with $2 billion of committed capital, according to investors and a regulatory filing. An Undertakings for the Collective Investment in Transferable Securities version of the fund, called The Lyxor and Bridgewater All Weather Sustainability fund, will give investors access to Bridgewater’s All Weather Sustainability strategy. It is managed by Lyxor Asset Management and sub-advised by Bridgewater.
Exclusive: China just Gave a Big F-U to America, Hedge Fund Manager Says (LocalNews8.com)
Kyle Bass, the hedge fund manager and outspoken critic of Beijing, says the timing of China’s crackdown on ride-hailing app Didi is no coincidence. “The Chinese believe deeply in symbolism and numerology,” Bass told CNN Business on Wednesday. “Banning an IPO that just went public in the US — with US investor money — on our Independence Day was basically a big F-U to the United States.”
Swiss Hedge Fund pioneer Rainer-Marc Frey has Sold of Some of His Stake in Derivatives Specialist Leonteq. (Finews)
Swiss financier Rainer-Marc Frey has cut his stake in Zurich-based structured products specialist Leonteq to below 10 percent, the company said Thursday. Leonteq said Frey indirectly held 1.89 million shares or 9.98 percent through investment company H21 Macro compared with 10.15 percent at the end of 2020. Stake Bought During Crisis at Leonteq. Frey bought into Leonteq in 2017 when it was embroiled in an internal crisis. The following year he raised his stake to over 10 percent. Since he took a stake the company’s share value has risen by over 55 percent.
Learn About Machine Learning Through The Lens Of A Hedge Fund (Forbes)
Artificial intelligence is widely discussed in CIO conversations down to IT resourcing meetings in companies today. There is a range of topics that enterprises are involved in from research to novel applications and enterprise product usage. The last year, the theme at major cloud conferences like Google I/O and re:Invent has centered on MLOps, which is the process of taking models created by data scientists into applying them in production to drive business impact. MLOps is still new, so I wanted to spend time diving into what it is and why it’s different.
Warren Buffett’s Apple Stake has Surged in Value to $128 Billion. It would be Worth $146 Billion if the Investor Hadn’t Slashed It. (Business Insider)
Warren Buffett‘s Apple bet jumped in value to $128 billion on Wednesday, thanks to the iPhone maker’s stock price closing at a record high. The investor has more than tripled his money on Apple in the past three years- but he would have quadrupled it if he didn’t sell a chunk of the holding. Buffett’s Berkshire Hathaway conglomerate spent $36 billion between 2016 and mid-2018 to amass the equivalent of 1 billion Apple shares, which would be worth $146 billion today. However, Buffett has cashed in about 12% of that stake in recent years.
Stormy June for CTAs (Hedge Nordic)
Stockholm (HedgeNordic) – The market environment was not very fruitful for many Nordic CTAs during the month of June, with the group incurring an average decline of 1.4 percent for the month. Some CTAs managed to do well nonetheless. The entire fund family of Finnish systematic asset manager Estlander & Partners, Mandatum’s managed futures fund and Danish trend-following commodity fund Calculo Evolution Fund all managed to book gains for the month. Lynx Asset Management’s machine learning-assisted Lynx Constellation incurred a monthly loss of 7.3 percent in June to end the first half of 2021 down 9.6 percent.
Tiger Cub Lone Pine Killed It in the Second Quarter (Institutional Investor)
The legendary hedge fund firm founded by Stephen Mandel, Jr. surged back into the black after a bad start to the year. What a difference a quarter made for Lone Pine Capital. The Tiger Cub founded by Stephen Mandel, Jr. posted roughly 14 percent gains in both its long-short and long-only funds in the second quarter, moving both solidly into the black for the year, according to an investor.
Preqin Quarterly Update: Private Equity & Venture Capital, Q2 2021 (Preqin)
Private equity & venture capital (PEVC) continues to hit records numbers, largely driven by outsized monetary and fiscal stimulus responses in the US and the larger proportion of technology companies in the overall deal flow. Buyout deals doubled to 1,042 compared to Q1 2021 and a record 5,284 PEVC funds are in market at the start of Q3, targeting $899bn in total. Read our latest private equity & venture capital industry update for a detailed look at fundraising, funds in market, investors, buyout and venture capital deals & exits, performance & dry powder, and secondaries in the second quarter of the year.
What Did This CEO Just Do with Personal Shares of Adtalem Global Education (NYSE: ATGE)? (Analyst Ratings)
Yesterday, the COB, Pres & CEO of Adtalem Global Education (ATGE), Lisa Wardell, sold shares of ATGE for $13.94M. Following Lisa Wardell’s last ATGE Sell transaction on June 23, 2021, the stock climbed by 2.7%. Based on Adtalem Global Education’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $281 million and quarterly net profit of $24.65 million.
The Most Influential Investor You Never Heard of is Betting on Outbrain (CalcalisTech)
“The most influential and successful investor you have ever heard of,” is how Seth Klarman (64) has often been described in the American media. The nickname “The Oracle from Boston”, inspired by Warren Buffett‘s nickname “The Oracle from Omaha”, has also been given to the CEO and chief investment officer of the Baupost Group, which manages around $31 billion. In his only book, Margin of Safety from 1991, Klarman explains his concept of investment management. The self-published book had only 5,000 copies, but a sort of cult of investors was formed around it.
A Major Shareholder at OneSpan (NASDAQ: OSPN) is Selling Shares (Analyst Ratings)
Yesterday, a Major Shareholder at OneSpan (OSPN), Kendall Hunt, sold shares of OSPN for $1.18M. The company has a one-year high of $33.33 and a one-year low of $17.85. OSPN’s market cap is $1.02 billion and the company has a P/E ratio of -70.60. Currently, OneSpan has an average volume of 118.69K.
TRENDSETTER Why is ‘Nancy Pelosi Insider Trading’ Trending? (The Sun)
Why is ‘Nancy Pelosi insider trading’ trending? On June 11, the House Judiciary Committee kicked off a series of bills to limit the powers of tech giants including Apple, Amazon, and Google. On July 6, 2021, Fox Business wrote that Nancy’s “husband placed a bet of up to $6million on Apple, Amazon and Google-parent company Alphabet ahead of a powerful House committee moving forward with bills aimed at reining in the powers of Big Tech.
