Hedge Fund and Insider Trading News: Alan Howard, Starboard Value L.P., Fortress Investment Group, Two Sigma Advisors, Alden Global Capital, Marker Therapeutics (MRKR), Wayfair Inc (W), and More

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Fortress Said to Offer Earlier Payout on Mt. Gox Creditor Claims (Bloomberg)
Fortress Investment Group LLC is offering the creditors of defunct crypto exchange Mt. Gox an earlier but lower payout than they would get under a trustee-backed proposal set for a vote in October. This is the highest value that the private-equity and hedge-fund firm has ever offered creditors, according to a letter seen by Bloomberg News. Officials of New York-based Fortress didn’t immediately respond to a request for comment.

Legislators examine proposed sale of Courant parent Tribune Publishing to Alden Capital (MSN)
The impending takeover of The Hartford Courant by a cost-cutting hedge fund, Alden Global Capital, was decried in testimony Thursday before a legislative committee weighing an unusual bill that would give the state a role in the newspaper’s finances. Behind the legislation is a notion embraced by publishers in any other setting: Newspapers, especially one whose founding in 1764 predates the American Revolution, are institutions of public trust and benefit, even if privately owned. The bill filed by Sen. Matt Lesser, D-Middletown, whose father once reported for the Washington Post, seizes on the fact that The Courant, owned by national newspapers chains since 1979, sought a business charter the General Assembly granted in 1887 and revised repeatedly, most recently in 1951.

Billionaire Hedge Fund Mogul Alan Howard Is a Shareholder in CoinShares (Coin Desk)
British hedge fund manager Alan Howard is the fourth-largest shareholder in digital asset manager CoinShares. According to the CoinShares investor relations site, a company owned by Howard, AH (St Helier) Ltd, owns 5,484,580 shares, 8.24% issued share capital. On March. 11 CoinShares went public and listed on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized growth companies in Europe, and shares started trading.


Corteva Agrees to Appoint Three Starboard-Backed Directors (Reuters)
(Reuters) – Corteva Inc said on Friday it had agreed to appoint three new independent directors backed by activist investor Starboard Value LP, which had earlier sought to oust the company’s chief executive officer. Corteva said David Everitt, Janet Giesselman, and Kerry Preete will join its board, effective immediately.

Two Sigma Appoints new private investment business Chairman (Hedge Week)
Two Sigma has appointed Tom Hill to the newly created role of Chairman of Two Sigma’s private investment business, which includes Two Sigma Impact, Two Sigma Ventures and Sightway Capital. In his role as Chairman, he will be responsible for setting the strategy and growth plans across the company’s current private investment businesses and will lead any expansion of Two Sigma’s private investment business. Hill previously held a consulting role with Two Sigma since early 2019 and recently joined full-time.

Dawn Fitzpatrick (Barron’s)
When Dawn Fitzpatrick was running 3,000- and 5,000-meter races for the University of Pennsylvania track team, she had to be “tenacious,” “determined,” and “patient.” She said those traits come in handy in her role as chief investment officer of Soros Fund Management, where she has overseen the investments of billionaire philanthropist George Soros, his family, and foundations since 2017.

Hedge Fund Performance Update: February 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark returned +3.43% in February, building on January’s 2.03% gain and pushing the 12-month return to +25.73%. This heatmap presents the hedge fund performance benchmarks for February 2021. Plus, the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications. Deeper analysis of hedge fund performance, including a close look at a different strategy each month, will be available on Preqin Insights+ as part of our Performance Monitor series. For more information on our new content subscription offering, contact your Account Manager.

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