Buildertrend, the Leader in Construction Management Software, Secures Significant Investment Led by Bain Capital Tech Opportunities (PRNewswire.com)
OMAHA, Neb., Dec. 24, 2020 /PRNewswire/ — Buildertrend, the leading provider of cloud-based software for homebuilders, remodelers and specialty contractors, today announced that it has received an investment from Bain Capital Tech Opportunities and HGGC to accelerate its growth and expand the services it provides to customers. This first institutional investment will accelerate Buildertrend’s growth trajectory through strategic acquisitions and drive expansion into adjacent offerings such as payments, data analytics and contractor services. Financial terms of the private transaction were not disclosed.
Inside Millennium Management’s Sprawling Network of Hedge Fund Spin-Offs (Business Insider)
One could argue that Millennium Management‘s greatest advantage over other hedge funds is its ability to keep talented people in-house. The massive hedge fund has a unique structure that lets portfolio managers operate in independent silos. The setup, which is grants PMs even more autonomy than fellow multi-strategy funds though with tight risk and loss parameters, helps billionaire founder Israel Englander convince staffers who might leave a more traditional fund to stay in-house — and recruit top talent into his firm.
Deuterium Capital Management Acquires Jupiter Asset Management’s Global Dynamic Allocation Team (Hedge Week)
Deuterium Capital Management, a US based asset manager with circa USD1 billion AUM, has acquired Jupiter Asset Management’s Global Dynamic Allocation team for an undisclosed sum. The acquisition includes the entire Global Dynamic Allocation team, along with the associated intellectual property, including software and analytics. Deuterium will launch a new fund in January 2021, which will be aligned with the existing investment strategy.
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Steve Cohen’s Message for Mets Fans Wanting to Sign ‘Everybody’ (New York Post)
Steve Cohen prefers a long-term approach to building a winning team over trying a quick fix through free agency. In a question-and-answer session Wednesday night hosted by Howie Rose on the team’s YouTube channel, the new Mets owner indicated that as much as he’s a fan and wants to win immediately, his aim is to build a foundation for sustained success.
Japan Government Adviser Pressured Harvard With Talk Of Probe Before Toshiba Vote (BusinessWorld.in)
Harvard’s $41 billion endowment fund owns over 4% of Toshiba and invests in Singapore-based activist hedge fund Effissimo Capital Management, Toshiba’s biggest shareholder with a 9.91% stake. A Japanese government adviser told the Harvard University endowment fund that its vote at Toshiba Corp’s annual shareholders meeting could be subject to a regulatory probe should it vote against the firm’s management, four sources said. As a result, the U.S. university abstained from voting, three of the sources said. It later learnt there was no basis for any probe, two of them said. The alleged comment by Hiromichi Mizuno, special adviser to the Ministry of Economy, Trade and Industry (METI), is at odds with Japan’s push for improved corporate governance and adds attention to a meeting that has drawn shareholder complaints.
How Hedge Funds are Capitalizing on the Shift to E-Commerce (CNBC)
CNBC’s Leslie Picker reports on how hedge funds have capitalized on the shift to e-commerce amid the pandemic.
Apollo Casino Deal Is Approved After Bid Lifted to $1.9 Billion (Bloomberg)
Apollo Global Management Inc. won shareholder approval for its $1.9 billion takeover of Great Canadian Gaming Corp., sealing a deal that had faced stiff opposition until the private equity firm increased its bid by 15%. Holders of 79% of the shares voted at a special meeting were in favor of the transaction, executives said on a webcast. That cleared the two-thirds hurdle needed for the deal to take effect. The acquisition is expected to close in the second quarter, but still needs regulatory approval.
Thursday 12/24 Insider Buying Report: AUB, ERC (Nasdaq.com)
On Wednesday, Atlantic Union Bankshares’, Frank Russell Ellett, made a $96,172 buy of AUB, purchasing 3,000 shares at a cost of $32.06 a piece. So far Ellett is in the green, up about 3.2% on their purchase based on today’s trading high of $33.09. Atlantic Union Bankshares is trading up about 0.3% on the day Thursday. This purchase marks the first one filed by Ellett in the past year. And on Tuesday, Christopher M. Lee bought $78,325 worth of Wells Fargo Advantage Multi-Sector Income Fund, buying 6,500 shares at a cost of $12.05 each. Before this latest buy, Lee made one other buy in the past twelve months, purchasing $72,420 shares for a cost of $12.07 a piece. Wells Fargo Advantage Multi-Sector Income Fund is trading up about 0.8% on the day Thursday.
Peloton Interactive Inc (PTON) COO and Head of Prod. Dev. Thomas Cortese Sold $23.6 million of Shares (Guru Focus)
COO and Head of Prod. Dev. of Peloton Interactive Inc, Thomas Cortese, sold 150,000 shares of PTON on 12/22/2020 at an average price of $157.3 a share. The total sale was $23.6 million. Peloton Interactive Inc has a market cap of $47.61 billion; its shares were traded at around $162.760000 with a P/E ratio of 581.28 and P/S ratio of 20.65. GuruFocus has detected 1 severe warning sign with Peloton Interactive Inc.
The Shareholder of Cominar Real Estate Investment (Other OTC: CMLEF) is Buying Shares (Analyst Ratings)
Yesterday, the Shareholder of Cominar Real Estate Investment (CMLEF), Sime Armoyan, bought shares of CMLEF for $1.05M. This is Armoyan’s first Buy trade following 6 Sell transactions. Over the last month, Sime Armoyan has reported another 4 Buy trades on CMLEF for a total of $1.19M.
Sunrun Inc (RUN) CEO of Vivint Solar, Inc. David Bywater Sold $18.5 million of Shares (Guru Focus)
CEO of Vivint Solar, Inc. of Sunrun Inc, David Bywater, sold 263,325 shares of RUN on 12/23/2020 at an average price of $70.1 a share. The total sale was $18.5 million. Sunrun Inc provides clean, solar energy to homeowners. It is engaged in the design, development, installation sale, ownership, and maintenance of residential solar energy systems (“Projects”) in the United States.
