Key Trends Transforming Fund Administration (Preqin)
Private equity fund administration has evolved to offer sophisticated products and comprehensive services for GPs. How are increasing LP sophistication and diversification shaping the industry and the types of services GPs need to offer? LPs want more transparency, data points around investment performance, and ESG reporting. While LPs can do in-house analysis, they need data from the GPs and service providers.
Billionaire Investor Bill Ackman Implores Biden to ‘Set a Real Red Line’ and Consider Military Intervention in Ukraine (Business Insider)
Bill Ackman called for President Joe Biden to consider sending US troops to defend Ukraine in a post on Twitter Monday. “Is there a point at which we say it is un-American to sit back and watch this transpire?” the billionaire investor said in a series of tweets addressed to Biden. “Do we wait for him to kill millions before we intervene?” Ackman added.
Wednesday 3/2 Insider Buying Report: STRA, BX (Nasdaq.com)
At Strategic Education, a filing with the SEC revealed that on Monday, Executive Chairman Robert S. Silberman purchased 13,001 shares of STRA, at a cost of $60.24 each, for a total investment of $783,181. Silberman was up about 2.9% on the purchase at the high point of today’s trading session, with STRA trading as high as $61.97 in trading on Wednesday. Strategic Education is trading up about 3.8% on the day Wednesday. Before this latest buy, Silberman bought STRA on 2 other occasions during the past twelve months, for a total cost of $890,460 at an average of $63.60 per share. And on Friday, Director Ruth Porat purchased $631,050 worth of Blackstone, purchasing 5,000 shares at a cost of $126.21 each. Blackstone is trading up about 1.4% on the day Wednesday.
Executives Sell More Than $47M Of 5 Stocks (Benzinga)
Lordstown Motors: The Trade: Lordstown Motors Corp. (RIDE) 10% owner Stephen Burns disposed a total of around 5,285,000 shares at an average price of $2.56. The insider received around $13.53 million as a result of the transaction. Morningstar: The Trade: Morningstar, Inc. (NASDAQ: MORN) Executive Chairman Joseph Mansueto sold a total of 31,244 shares at an average price of $278.07. The insider received around $8.69 million from selling those shares. AbbVie: The Trade: AbbVie Inc. (NYSE: ABBV) Vice Chairman Robert A Michael sold a total of 77,391 shares at an average price of $148.82. The insider received around $11.52 million as a result of the transaction.
Hedge Fund Alden Faces Another Setback in Bid to Buy Post-Dispatch Owner Lee (Biz Journals)
A Delaware court has issued another ruling against the Florida hedge fund attempting a hostile takeover of Lee Enterprises, the newspaper chain that owns the St. Louis Post-Dispatch. Alden Global Capital in February sued Lee, arguing that the Davenport, Iowa, company was wrongfully applying a plurality board standard at its annual meeting March 10, when three directors, Mary Junck, Herbert Moloney and Kevin Mowbray, are up for election.
