Alan Fournier Shuts 17-Year-Old Hedge Fund Pennant Capital (Bloomberg)
Hedge fund manager Alan Fournier is returning client capital at his $1.5 billion Pennant Capital Management after almost two decades, the latest veteran stock-picker to close his fund following struggles to make money since the financial crisis. “While I take great pride in our long term returns, especially in light of our consistent low risk portfolio structure, our recent returns have been disappointing,” Fournier wrote Tuesday to investors. “I have been frustrated by our inability to match our historical results and deliver appropriate returns for our investors.”
Global Hedge Fund Coatue in Talks to Buy Stake in Swiggy (The Economic Times)
MUMBAI|NEW DELHI: Global technology hedge fund Coatue Management is in talks with a few others to invest $50-100 million in online food delivery platform Swiggy, three people familiar with the matter said. The move comes less than two months after South African media giant Naspers and Chinese ecommerce firm Meituan-Dianping invested $100 million in the Bengaluru-based startup, underlining how pace of investment in India’s digital market is picking up again.
D.E. Shaw Group Invests in Israel-Based SaaS Insurtech Startup Atidot (CalcalisTech.com)
New York-headquartered hedge fund D. E. Shaw & Co. L.P. (The D.E. Shaw Group) invested in Israel-based SaaS insurtech startup Atidot Ltd., the company announced Wednesday. The investment was part of a $5 million Series A funding round led by venture capital firm Vertex Ventures Israel. Additional participants include Poalim Capital Markets, the investment arm of Israel’s Bank Hapoalim, and Israel-based venture capital firm Moneta Seeds Management Company Ltd.
ExodusPoint to Launch With $2 Billion-Plus (Hedge Fund Alert)
After more than a year of speculation about his fund-raising potential, Michael Gelband is on track to launch his ExodusPoint Capital with at least $2 billion – and perhaps substantially more. Gelband, whose resume includes top investment roles at Millennium Management and Lehman Brothers, plans to begin trading his ExodusPoint Partners Fund on June 1 with help from an unusually large investment team for a startup. Even $2 billion of day-one capital would place ExodusPoint among the biggest hedge fund launches since the global financial crisis. Gelband has been working on ExodusPoint since leaving Millennium about a year ago. Efforts to recruit Millennium staffers led to an arbitration dispute between Gelband and Millennium founder Izzy Englander that delayed ExodusPoint’s launch.
Insider Selling: Amphastar Pharmaceuticals Inc (AMPH) Insider Sells 20,000 Shares of Stock (RegistrarJournal.com)
Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) insider Jason B. Shandell sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $19.43, for a total value of $388,600.00. Following the sale, the insider now directly owns 251,372 shares in the company, valued at approximately $4,884,157.96. The sale was disclosed in a document filed with the SEC.
Insider Buying: Credit Suisse AM Inc Fund Inc. (CIK) Insider Acquires 26,684 Shares of Stock (StockNewsTimes.com)
Credit Suisse AM Inc Fund Inc. (NYSEAMERICAN:CIK) insider Americas Holding Corp. Csam acquired 26,684 shares of Credit Suisse AM Inc Fund stock in a transaction that occurred on Friday, March 16th. The shares were purchased at an average cost of $3.24 per share, with a total value of $86,456.16. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: USANA Health Sciences, Inc. (NYSE:USNA) Director Sells 28,050 Shares of Stock (LedgerGazette.com)
USANA Health Sciences, Inc. (NYSE:USNA) Director Myron W. Wentz sold 28,050 shares of USANA Health Sciences stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $76.14, for a total value of $2,135,727.00. The sale was disclosed in a document filed with the SEC.
Insider Buying: Conifer Holdings (CNFR) President Purchases 10,000 Shares of Stock (StockNewsTimes.com)
Conifer Holdings (NASDAQ:CNFR) President Brian J. Roney purchased 10,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was bought at an average price of $6.00 per share, with a total value of $60,000.00. Following the completion of the purchase, the president now owns 311,920 shares of the company’s stock, valued at $1,871,520. The acquisition was disclosed in a document filed with the Securities & Exchange Commission.
Insider Selling: BankFinancial Co. (BFIN) EVP Sells 10,000 Shares of Stock (LedgerGazette.com)
BankFinancial Co. (NASDAQ:BFIN) EVP James J. Brennan sold 10,000 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $16.80, for a total transaction of $168,000.00. Following the completion of the transaction, the executive vice president now owns 59,251 shares of the company’s stock, valued at approximately $995,416.80. The sale was disclosed in a filing with the SEC.