Man Utd Takeover: Elliott Management Through to Second Stage of Bidding But Glazer Family Not Certain to Sell (Sky Sports)
Elliott Management has made it through to the second stage of the Manchester United bidding process but the Glazer family remain undecided on selling the club. Rather than seeking to buy Manchester United outright, US hedge fund Elliott Management’s proposal is to offer financing to any interested parties – and the Glazers themselves. The Glazers have received bids worth between £4bn and £4.5bn from Qatar’s Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe but they are holding out for their £6bn valuation.
Angelo Gordon Raises $1.3bn for Second Dislocation Fund (Hedge Week)
Angelo Gordon, a $53 billion alternative investment firm focused on credit and real estate investing, has expanded its distressed and corporate special situations platform by raising $1.3 billion the AG CSF2A (Annex) Dislocation Fund, (Annex Dislocation Fund 2). In a statement, Angelo Gordon said the fund, which secured strong support from existing investors of the flagship Credit Solutions strategy, as well as a significant level of commitments from new institutional and retail investors, will “aim to capitalise on situational market volatility and stress by investing primarily in public debt securities whose prices have dislocated from long-term fundamentals”.
Haidar Jupiter Takes a 5 Percent Hit (Institutional Investor)
Rokos, AQR, and Graham Capital led macro funds in a mixed month for the strategy. Haidar Jupiter Fund has posted another monthly loss. The volatile macro fund, which was up 193 percent in 2022, dropped 5.04 percent in February, extending its loss for the year to 17.41 percent, according to a fund communication with clients seen by Institutional Investor.
Photo by Austin Distel on Unsplash
This Hedge Fund Is Betting Big on Arrival Stock. Should You? (InvestorPlace.com)
Cash-strapped electric bus and van startup Arrival (NASDAQ:ARVL) received a financial lifeline last month. That’s when it locked down a financing deal with Antara Capital. The hedge fund has committed to buying $50 million worth of newly issued shares of ARVL stock. Antara also agreed to exchange $121.9 million worth of Arrival convertible notes for additional newly issued common shares. This capital infusion/debt-for-equity swap stands to reduce the company’s outstanding debt significantly.
Coinbase and $20,000,000,000 Hedge Fund Backing New Decentralized Crypto Exchange (The Daily Hodl)
Top US-based crypto exchange Coinbase is teaming up with a privacy-focused crypto firm to launch a new decentralized exchange (DEX) platform. In a new press release, decentralized finance (DeFi) firm Violet says it plans to launch Mauve, a DEX built with features of both DeFi and traditional finance (TradFi). The company will be collaborating with several prominent investors, such as Coinbase Ventures, venture capital firm FinTech Collective, and $20 billion hedge fund Brevan Howard.
Peter Thiel Fund Advises Companies to Exit Silicon Valley Bank (LiveMint)
Peter Thiel’s Founders Fund and several other high-profile venture capital firms advised their portfolio companies to pull money from Silicon Valley Bank on Thursday, responding to panic about the bank’s financial situation in tech startup circles. Founders Fund, a prominent VC firm co-founded by billionaire Thiel, has asked its companies to move their funds, according to one person familiar with the matter who asked not to be identified discussing private information.
These Hedge Fund Stars are Popping Champagne Corks (BreakingLatest.news)
The stock market year 2022 was a year to forget for most investors. Yet some hedge fund managers have taken home billions. Hedge funds are an industry that is shrouded in mystery because it lacks transparency. Many rumors surround the mostly publicly shy investment gurus. Some reverently call the star hedge fund managers “Masters of the Universe”, others derogatory “locusts”. For most investors, however, hedge funds are out of reach because they are aimed at institutional investors or wealthy individuals who can raise the often six- or even seven-figure minimum amounts for the initial investment.
Bed Bath & Beyond: Hudson Bay Financing, Recent Equity Offering Won’t Be Enough (Seeking Alpha)
Tough times often bring out the best and worst in people and companies. When the pandemic hit in 2020 and inflation reach historically high levels over the next couple years management teams were tested in unique ways. Some companies thrived in this difficult operating environment, while others struggled. One company that failed in every possible way during the pandemic and the subsequent rise in prices was Bed Bath & Beyond (NASDAQ:BBBY). This company now faces what likely will eventually be a chapter 7 bankruptcy and forced liquidation.
Friday 3/10 Insider Buying Report: UNIT, SMMT (Nasdaq.com)
On Thursday, Uniti Group’s CEO, Kenny Gunderman, made a $983,250 buy of UNIT, purchasing 225,000 shares at a cost of $4.37 a piece. Uniti Group is trading up about 0.9% on the day Friday. And at Summit Therapeutics, there was insider buying on Tuesday, by Chief Financial Officer Ankur Dhingra who purchased 196,362 shares at a cost of $1.05 each, for a total investment of $206,180. Before this latest buy, Dhingra made one other buy in the past year, purchasing $35,129 shares for a cost of $0.97 each. Summit Therapeutics is trading off about 3.2% on the day Friday. Dhingra was up about 35.7% on the buy at the high point of today’s trading session, with SMMT trading as high as $1.43 in trading on Friday.
Around $355M Bet On Occidental Petroleum? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett bought a total of 5,801,791 shares at an average price of $61.10. To acquire these shares, it cost around $354.51 million. Montrose Environmental Group: The Trade: Montrose Environmental Group, Inc. (MEG) Director James Price acquired a total of 27,636 shares an average price of $36.18. To acquire these shares, it cost around $1 million.
