Biopharma Funds Regain Some Health (Institutional Investor)
At least one fund is in the black, and several others moved closer to breakeven in October. A number of biopharma hedge funds enjoyed a healthier October. These were led by the Soleus Capital Master Fund, which moved back into the black after gaining 5 percent for the month. It is now up nearly 3 percent for the year, according to two investors.
Thunderbird Entertainment Group Addresses False Statements Made by Hedge Fund Voss Capital, LLC and Confirms Annual Meeting Will Be Held in Early 2023 (BusinessWire)
Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (“Thunderbird” or the “Company”) is correcting the record today regarding false statements made by Texas-based hedge fund Voss Capital, LLC (“Voss”) in its most recent press release. Thunderbird also announced that it will hold its annual general meeting of shareholders (the “Meeting”) in the first quarter of 2023.
Man Group Readies Crypto Hedge Fund Despite FTX Chaos (Bloomberg)
Man Group Plc is close to starting a dedicated cryptocurrency hedge fund, delving deeper into a market that’s reeling from the collapse of exchange operator FTX. The world’s largest publicly-traded hedge fund firm has been developing the strategy led by money manager Andre Rzym for months, according to people with knowledge of the matter.
Pixabay/Public Domain
FTX Will be the Last Giant to Fall this Cycle: Hedge Fund Co-founder (Coin Telegraph)
This bear market has seen the collapse of Celsius, Three Arrows Capital, Voyager, and now FTX, but the worst is likely over, a hedge fund executive suggests. While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange’s fall from grace should be the last catastrophic event — at least in this market cycle. CK Zheng, the former head of valuation risk at Credit Suisse and now co-founder of crypto hedge fund ZX Squared Capital said that FTX’s fall was part of a “deleveraging process” that began after the COVID-19 pandemic and further accelerated after the fall of Terra Luna Classic (LUNC), formerly Terra (LUNA).
Hedge Fund Starboard Value Cuts Stake in CommVault Systems (CVLT) (Nasdaq.com)
Fintel reports that Starboard Value LP has filed a 13D/A form with the SEC disclosing ownership of 2,719,857 shares of CommVault Systems, Inc. (CVLT). This represents 6.1% of the company. In their previous filing dated July 6, 2022 they reported 3,802,375 shares and 8.50% of the company, a decrease in shares of 28.47% and a decrease in total ownership of 2.40% (calculated as current – previous percent ownership).
Ken Griffin’s Citadel Just Bought Mullen (MULN) Stock (Business Insider)
Citadel Advisors is back into Mullen Automotive (NASDAQ:MULN) stock, a troubled electric vehicle (EV) play that the firm had previously sold out of. The hedge fund’s latest list of holdings, filed with the U.S. Securities and Exchange Commission (SEC), shows the firm with about 1.42 million shares of MULN. Citadel also has call and put options on MULN stock, hedging it against price moves up or down. The firm previously disclosed the sale of 532,000 shares in its August report.
GLP Capital Raises $1.5bn for US value-Add Self-Storage Fund (Opalesque)
GLP Capital Partners (GCP US), a global investment manager with a focus on modern logistics facilities and logistics-related operating companies, has raised $1.58bn in the final close of its inaugural North American self-storage real estate fund. The Fund – GCP SecureSpace Property Partners – was oversubscribed, making it the largest self-storage fund ever raised, said a press release from the registered investment adviser with over $5 billion in assets under management. The Fund secured commitments from a diverse group of limited partners including domestic and international institutional investors, including public and corporate pensions, insurance companies, asset management firms, and family offices, said the release.
Friday 11/18 Insider Buying Report: RYAN, AVTR (Nasdaq.com)
At Ryan Specialty Holdings, a filing with the SEC revealed that on Thursday, Director Michael D. Ohalleran purchased 29,474 shares of RYAN, at a cost of $33.94 each, for a total investment of $1.00M. Ohalleran was up about 9.5% on the buy at the high point of today’s trading session, with RYAN trading as high as $37.15 in trading on Friday. Ryan Specialty Holdings is trading up about 6.6% on the day Friday. And on Wednesday, CFO Thomas A. Szlosek purchased $258,850 worth of Avantor, purchasing 12,500 shares at a cost of $20.71 a piece. This buy marks the first one filed by Szlosek in the past year. Avantor is trading up about 1.9% on the day Friday.
Schlumberger, Electronic Arts And 3 Other Stocks Insiders Are Selling (Benzinga)
Dropbox: The Trade: Dropbox, Inc. (DBX) CEO Andrew Houston sold a total of 162,500 shares at an average price of $22.26. The insider received around $3.62 million from selling those shares. Charles Schwab: The Trade: The Charles Schwab Corporation (SCHW) Co-Chairman Charles Schwab sold a total of 132,050 shares at an average price of $78.29. The insider received around $10.34 million as a result of the transaction.
Sonic the Hedgehog Creator Arrested on Insider Trading Charges (Fox Business)
Sonic the Hedgehog’s creator is in police custody over allegations of insider trading. Yuji Naka, 57, was arrested Friday by Japanese authorities on charges of insider trading related to game-making company Aiming. Naka is the creator of the international hit Sonic the Hedgehog game series. Naka is currently employed by Square Enix, a titan of the Japanese gaming market.
