Seth and Beth Klarman Increase their Support for Black Women’s Education (Pensions&Investments)
Hedge fund manager Seth A. Klarman and his wife, Beth Schultz Klarman, recently donated an additional $10 million to Atlanta-based Spelman College bringing their total support for the historically Black women’s private liberal arts institution to $16 million. The Klarmans have supported Spelman since 2015. Their most recent gift will provide scholarships that will help students “overcome the financial barriers that may prevent them from graduating,” the college said in a news release.
Source: Steve Cohen Negotiations with Mets Successful, Waiting for MLB Owner Approval (MSN)
Steve Cohen has checked almost all the boxes to take over the New York Mets, and his takeover of the club is happening sooner rather than later. A source has informed amNewYork Metro on Sunday evening that negotiations between Cohen and the Mets to purchase 80% of the team have been successful and is now just pending the approval of MLB team owners. “It’s happening,” the source added. There is already an expectation that Cohen will get the necessary backing from the other MLB owners to take over the Mets. He will need 23 votes from the remaining 29 team owners to get the green light.
State’ Richest Man Gives $20M to Anti-Tax Referendum Group (TheTelegraph.com)
SPRINGFIELD – Illinois’ wealthiest man and frequent Republican political donor Ken Griffin has pledged $20 million to a group dedicated to defeating a graduated tax constitutional amendment. Griffin, who is the founder of the hedge fund Citadel, has previously donated tens of millions of dollars to the campaign of Republican former Gov. Bruce Rauner. He’s also given millions to House and Senate Republican leadership in the state and donated to several individual lawmakers. Forbes estimates his net worth at $15 billion.
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Why ESG Investment Needs to Embrace Technology (Preqin.com)
ESG investment in the private capital industry is becoming increasingly sophisticated – now firms need a scalable, ‘single-source’ solution. How has ESG investment changed in recent years? ESG investing has come a long way in the last five years. There has been a surge in the adoption of ESG strategies by fund managers globally – across both public and private markets. The rationale on the private capital side is threefold: first, there is a growing fiduciary and regulatory duty to meet the demands of institutional investors.
Opalesque Roundup: Hedge Funds’ AUM Rises to $3.58tn in Q2 2020: Hedge Fund News, Week 36 (Opalesque.com)
In the week ending September 4th 2020, hedge fund assets under management (AUM) have risen in the second quarter of 2020, said Preqin. In a Q1 2020 rocked by poor performance and significant investor redemptions, industry AUM dipped below $3.5tn for the first time since Q4 2018. Fast-forward three months and AUM have returned above this threshold to stand at $3.58tn, after a recovery in performance in Q2 (+11.48%) offset Q1’s net outflows. Meanwhile, Lyxor Peer Groups suggest hedge fund performance was up +0.5% in August, with CTAs underperforming (-1%) and Special Situations, Directional L/S Equity, Global Macro, and L/S Credit strategies outperforming (+0.6% to +1.6%).
Hedge Fund’s Buying Spree During Credit Slump Fuels 36% Return (Bloomberg)
Distressed-assets specialist Alp Ercil went on a billion-dollar buying spree in March and April, bargain-hunting amid the indiscriminate selloff in credit markets, a person familiar with the matter said. Ercil’s Hong Kong-based Asia Research & Capital Management Ltd. deployed almost 80% of the $1.6 billion raised for his latest fund in the two months, having sat on the sidelines for most of 2019 waiting for more attractive opportunities, the person said.
Arisaig Partners Launches Public Markets EM Impact Fund (Hedge Week)
Arisaig Partners, the USD3.8 billion ultra long-term public equities investment boutique, has unveiled a new impact strategy, the Arisaig Next Generation Fund, which targets listed businesses in emerging and frontier markets that are generating positive social and environmental impacts for the world’s major underserved populations. Arisaig Partners, which has been responsibly investing in the growth of the emerging market consumer since 1996, formally integrated ESG into its investment process a decade ago. Through its on-the-ground presence, the team is able to conduct proprietary research and engage with companies in the developing world, where progress on ESG issues is slower, but the opportunity to make a difference is far greater.
Millennium Hedge Fund Takes €11m Bet Against Bank of Ireland (The Times)
Millennium International Management, an American hedge fund, has renewed its bet against Bank of Ireland by taking a €11m short position in its shares. The position, made in the expectation that the shares have further to fall, follows previous short-selling of Bank of Ireland shares by Millennium earlier in the year.
Microsoft Corp (MSFT) EVP, CFO Amy Hood Sold $17.5 million of Shares (Guru Focus)
EVP, CFO of Microsoft Corp., Amy Hood, sold 80,000 shares of MSFT on 09/03/2020 at an average price of $218.14 a share. The total sale was $17.5 million. Microsoft Corp is a technology company. It develop, license, and support a wide range of software products and services. Its business is organized into three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.
The Chairman of Khiron Life Sciences (Other OTC: KHRNF) is Buying Shares (Analyst Ratings)
Today, the Chairman of Khiron Life Sciences (KHRNF), Chris Naprawa, bought shares of KHRNF for $39.75K. Following this transaction Chris Naprawa’s holding in the company was increased by 4% to a total of $733.2K. In addition to Chris Naprawa, one other KHRNF executive reported Buy trades in the last month.
Sebi Orders Impounding of Over Rs 1.38 Crore in Tara Jewels Insider Trading Case (CNBCTV18)
Markets regulator Sebi has ordered impounding of more than Rs 1.38 crore from Tara Jewels Ltd’s chairman and managing director Rajeev Vasant Sheth and his daughters for indulging in insider trading in the company’s share. His two daughters, Aarti Sheth and Divya Sheth, were employed as the company’s vice presidents. The regulator ordered impounding of Rs 1.26 crore, Rs 9.62 lakh and Rs 2.09 lakh from Rajeev Vasant Sheth and Divya Sheth and Aarti Sheth, respectively, for “unlawful” notional loss avoided by them, according to the interim order passed on Friday.
