Warren Buffett’s Berkshire Hathaway Reveals 11% Stake in HP (Financial News)
Warren Buffett’s Berkshire Hathaway has built a stake of more than 11% in computer-and-printer maker HP, marking another foray into computing by the once technology-averse billionaire investor. At 6 April’s closing share price the holding, of nearly 121 million shares, was worth about $4.2bn. The share purchases were disclosed in two securities filings on 6 April.
Carlson Capital Sells $2 Billion Collateralized Loan Obligation Business to Dallas Credit Firm (Biz Journals)
Carlson Capital sold its $2 billion collateralized loan obligation portfolio to Clearlake Capital’s Dallas-based credit arm, shedding what was a major part of its assets. Last week, the iconic Dallas hedge fund announced it sold its five CLOs to WhiteStar Asset Management, which focuses on CLOs, structured products, and broadly syndicated credit. With the addition of Carlson’s five CLO funds, WhiteStar manages about $12 billion in CLO assets across 27 vehicles. Both firms declined to comment to Dallas Business Journal.
Carlyle Wraps Up the Second Credit Opportunities Fund at $4.6bn (Opalesque)
American multinational alternative asset management Carlyle has tapped investors for $4.6bn for its second credit opportunities fund – Carlyle Credit Opportunities Fund (CCOF II). The US buyout giant exceeded its $3.5bn target and attracted almost double the amount raised for its predecessor fund. Including available leverage, investable capital is approximately $6 billion. The Global investment firm said in a press release that CCOF II provides capital solutions to companies seeking an alternative to traditional capital markets or private equity.
Hedge Fund Cinctive Adds Macro Strategy, Hires Industry Veteran Coppel (Reuters)
BOSTON, April 6 (Reuters) – Hedge fund Cinctive Capital Management is expanding beyond its bread-and-butter stock trading and has hired former Brevan Howard trader Giles Coppel to lead a team that will bet on interest rates and currencies as global macro investments find new favor. “We are moving to a different paradigm and this is a time for macro investing,” said Richard Schimel, who co-founded Cinctive with Larry Sapanski in 2019, confirming the moves.
Aaro DLT Multifund Fund of Funds Delivers 177.2 per cent Return in 2021 (Hedge Week)
The Aaro DLT Multifund achieved an annual return of 177.2 per cent in 2021, outperforming the wider crypto market (MVIS 100) by 42.8 per cent and bitcoin by 117.7 per cent. The fund’s Sharpe Ratio of 2.6 was also superior to that of the MVIS 100 index (1.8) and Bitcoin (0.8). The Aaro DLT Multifund, launched in May 2020, is one of the first fund of funds seeking to exploit investment opportunities in DLT/blockchain-related technologies and cryptoassets. The aim of the fund is to deliver sustainable growth and risk-adjusted returns while protecting against the markets’ short-term volatility.
Adaptive, Ready for a Bigger Audience (Hedge Nordic)
Stockholm (HedgeNordic) – Structural shifts are a constant in an ever-transforming world around us, creating new opportunities and challenges for industries, businesses, and individuals. Determined to capitalize on structural winners and losers from these shifts, Linköping-based money manager Alexander Hyll launched Adaptive Paradigm Alpha back in early 2020. Following two years of successful management and several additions to the organization, Hyll and his team are launching a fully authorized alternative investment fund with the same strategy and name during the second quarter of this year.
An LP’s Guide to Investing in Healthcare (Preqin)
COVID-19 has required the healthcare industry to radically change the way it delivers products and services, and demands ongoing investment to meet this. To help you understand how innovations in remote scheduling and delivery of services and treatment are creating investment opportunities, we have created Sector in Focus: An LP’s Guide to Investing in Healthcare. You will learn how biotech and new medical devices use artificial intelligence and digital communication to enable drug development and digital healthcare delivery, and how physical infrastructure for surgery and in-person care is being transformed. We also analyse the potential to broaden access to healthcare services.
‘It’s Meaningless’ – Large Tesla Shareholder Ron Baron Reacts to Elon Musk Joining Twitter’s Board (CNBC)
Ron Baron, CEO of Baron Capital and one of Tesla’s largest shareholders, said Elon Musk’s 9.2% stake in Twitter, and his accompanying board seat, is not significant. “I think it’s meaningless,” he told CNBC’s “Squawk Box” on Thursday. “It’s a tiny investment. $3 billion for a man who is worth $300 billion. He has Tesla which is worth a trillion [and] on the way to being worth $3 or $4 trillion.”
Tiger Cubs Suffer Losses in Tumultuous 2022 Markets (Bloomberg)
The largest hedge funds that sprung from Julian Robertson’s Tiger Management are losing money so far in 2022 on both of their favored trades: Technology giants and unicorns. Bloomberg’s Tom Metcalf reports.
Who is Ken Griffin? Billionaire Worth Three Times Roman Abramovich in Chelsea Takeover (Irish Mirror)
Ken Griffin was in London this week to try and strengthen his consortium’s chance of winning the race to take over Chelsea from Roman Abramovich. Griffin is one of the money men behind the Ricketts family’s bid for the European champions. The American family, who own the Chicago Cubs baseball team, are in the running to take over the club, alongside bids led by Todd Boehly, Sir Martin Broughton and Stephen Pagliuca, which have been given until April 11 to submit their final detailed plans.
Thursday 4/7 Insider Buying Report: YORW (Nasdaq.com)
On Tuesday, York Water’s CEO & President, Joseph Thomas Hand, made a $61,500 buy of YORW, purchasing 1,500 shares at a cost of $41.00 a piece. So far Hand is in the green, up about 7.9% on their buy based on today’s trading high of $44.25. York Water is trading up about 0.4% on the day Thursday. Before this latest buy, Hand bought YORW on 5 other occasions during the past year, for a total investment of $53,808 at an average of $44.29 per share.
Ex-McKinsey Partner Gets 2 Years for Trading on Goldman Deal (Bloomberg Quint)
(Bloomberg) — A former McKinsey & Co. partner who led a team that advised Goldman Sachs Group Inc. on its acquisition of a financial technology company was sentenced to two years in prison for insider trading on the deal. Puneet Dikshit pleaded guilty in December to a single count of securities fraud, admitting he bought short-term GreenSky Inc. options ahead of the bank’s Sept. 15 announcement that it planned to acquire the company for about $2.24 billion.
