Ex-Deutsche Bank FX Chief Shuts Hedge Fund to Join ExodusPoint (Bloomberg)
Ahmet Arinc, the former head of foreign exchange trading at Deutsche Bank AG, is shutting down his hedge fund after four years to join bigger rival ExodusPoint Capital Management with his team. Arinc, who started Cirera Capital in London with colleague Tijen Gumusdis, is liquidating the emerging-markets-focused macro hedge fund, according to an investor document seen by Bloomberg. The duo managed about $500 million, having grown their capital from just $17 million at the fund’s start.
Citadel’s Inspired Rates Trading Hire from Goldman Sachs (eFinancialCareers.com)
Citadel, the $57bn multi-strategy hedge fund run by Ken Griffin, isn’t averse to hiring people from Goldman Sachs. Pablo Salame, Goldman’s ex-co-head of global markets is Citadel’s chief investment officer. Philippe Derimay, a former top Goldman strat, is Citadel’s head of quantitative development for the fixed income business. Andrew Philip, the New York-based CFO, was previously Goldman’s chief risk officer for Europe… The list is long. As the UK gilts market descends into chaos, though, there’s one particular ex-Goldman guy who’s likely to be doing especially well in Europe: Jonathan Bayliss.
Chinese Investors Could Snap Up Cryptocurrencies as Yuan Slides, Hedge Fund Says (Coin Desk)
As a bitcoin (BTC) propounder would say, the reason bitcoin and other cryptocurrencies were invented – to hedge against fiat currency volatility – is upon us and now is the time to snap up digital assets. Chinese investors may do just that, according to Patrick Tan, CEO of Novum Alpha, a quantitative digital asset trading firm with MAS-regulated funds catering to accredited and institutional investors. “Decades of decay look set to culminate in the probable devaluation of the Chinese yuan,” Tan wrote in a note published Monday. “Just as ordinary Chinese were quick to circumvent strict capital controls with cryptocurrencies, they may do so again to combat a rapidly devaluing yuan.”
Danske Lost the Eliksir (Hedge Nordic)
Stockholm (HedgeNordic) – Danske Bank’s Finnish fund management arm announced the decision to terminate three alternative investment funds, including the Eliksir fund of hedge funds. Launched in mid-December 2002, Danske Invest Eliksir FoHF is one of the longest-running funds in the Nordic hedge fund universe. “The decision to terminate the funds was reached because the investors have shown minimal demand towards the funds and the assets under management have remained low,” writes an announcement.
Intelsat ‘Insider Trading’ Action Fails (Advanced-Television.com)
A California court cleared Intelsat’s pre-bankruptcy major shareholders of insider trading allegationson September 27th. The action started in late 2019 with allegations over violations of the federal securities laws. The lawsuit alleges that the named defendants violated the Exchange Act by selling Intelsat shares while they were in possession of material non-public information, including that Intelsat SA had met with the FCC on November 5th 2019, to discuss the private sale of certain frequencies controlled by Intelsat SA for future 5G use (the ‘C-Band’).
Wednesday 9/28 Insider Buying Report: FDX, CODI (Nasdaq.com)
At FedEx, a filing with the SEC revealed that on Monday, Director R. Brad Martin purchased 1,500 shares of FDX, at a cost of $143.41 each, for a total investment of $215,120. Martin was up about 2.8% on the buy at the high point of today’s trading session, with FDX trading as high as $147.45 at last check today. FedEx Corp is trading up about 1.1% on the day Wednesday. And also on Monday, Patrick A. Maciariello purchased $118,290 worth of Compass Diversified, purchasing 6,500 shares at a cost of $18.20 each. Before this latest buy, Maciariello made one other purchase in the past twelve months, buying $139,729 shares for a cost of $23.29 each. Compass Diversified is trading up about 3.5% on the day Wednesday. Maciariello was up about 3.1% on the buy at the high point of today’s trading session, with CODI trading as high as $18.77 at last check today.
Director of Braze Makes $3.76M Buy (Benzinga)
Matthew Jacobson, Director at Braze BRZE, reported a large insider buy on September 26, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Jacobson purchased 110,650 shares of Braze. The total transaction amounted to $3,763,832.
