Hedge Fund and Insider Trading News: Anthony Scaramucci, Carlson Capital, Elliott Management, Starboard Value, Ress Capital, PennyMac Financial Services Inc (PFSI), Estee Lauder Companies Inc (EL), and More

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Carlson Capital’s Latest Investor Update Shows the Hedge Fund has Lost Nearly $3 Billion in Assets and Dozens of Staffers Over the Last 2 Years (Business Insider)
The past two years have not been kind to Clint Carlson‘s hedge fund manager. Carlson Capital has seen its assets fall by billions while investing talent keeps heading out the door. The latest investor update the Dallas-based manager sent out, seen by Insider, shows the damage. Compared to the investor update the firm sent out on April 1, 2019, firm-wide assets have fallen nearly $3 billion from $7.7 billion to $4.8 billion. The drop has been most steep in the firm’s multi-strategy hedge funds, Black Diamond and Double Black Diamond.

2020’s Top Hedge Fund Activist Kept Making Demands Even as the Pandemic Raged (Institutional Investor)
Starboard Value was Insightia’s most influential hedge fund activist last year, beating out Elliott Management. Don’t tell hedge fund Starboard Value that activism is in the doldrums. Shareholder activists pulled in their horns in 2020, targeting 10 percent fewer companies than in 2019 and winning 16 percent fewer board seats, according to a recently published annual review of global activism. But Starboard bucked the trend.

Crispin Odey’s Hedge Fund Quietly Rebrands Funds Amid Ongoing Sexual Assault Trail (CityAM.com)
Odey Asset Management has quietly rebranded seven of its funds ahead of tomorrow’s court date, which will see founder Crispin Odey take to the stand over sexual assault allegations. Seven of the hedge fund’s 19 funds have changed their name from ‘Odey’ to ‘Brook’, referring to the new subsidiary business Brook Asset Management, industry magazine Portfolio Adviser first reported.

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Ress Strengthens Team (Hedge Nordic)
Stockholm (HedgeNordic) – Ress Capital is expanding the portfolio management team that runs its alternative investment fund focused on U.S. life insurance policies. With assets under management growing, Markus Biamont has joined the team running Ress Life Investments as a Junior Portfolio Manager. “We are pleased to announce that Markus Biamont has joined Ress Capital as a Junior Portfolio Manager,” writes Ress Capital in a press release.

Tiger-Backed Flutterwave Becomes Latest Nigeria Tech Unicorn (Bloomberg)
Flutterwave Inc. said its valuation passed $1 billion after raising funds from investors including billionaire Chase Coleman’s Tiger Global Management LLC, making the payments firm the third in a spate of Africa-focused tech firms to become so-called unicorns. U.S. hedge fund Tiger was joined by New York private equity firm Avenir Growth Capital in leading the $170 million round, according to a statement on Wednesday. That took total investment to $225 million in five years and pushed the valuation beyond the mark that bestows prestigious unicorn status.

Anthony Scaramucci: I’m Only Focused on Bitcoin, the ‘Big Dog’ (Decrypt)
Anthony Scaramucci told Decrypt he’s all in on Bitcoin – no Ethereum or Dogecoin, for now. Skybridge hopes its Bitcoin Fund can one day convert into a US Bitcoin ETF. Skybridge Capital hedge fund co-founder Anthony Scaramucci has moved on from his brief time in the Trump White House in 2017—and into crypto. In an extensive interview with Decrypt, the former White House communications director explained why he’s gravitated toward Bitcoin – and, for now, only Bitcoin.

Hedge Funds Now Front-Runners to Boost Investor Returns this Year, Says Credit Suisse Survey (Hedge Week)
A majority of investors now believe hedge funds are best placed to enhance the performance of a traditional 60/40 equities and bonds portfolio, with the prevailing rate environment driving a “sense of urgency” among allocators to tap into new sources of returns, a new Credit Suisse survey has found. The bank’s 2021 Hedge Fund Investor Survey, titled ‘A New Dawn’, quizzed more than 200 institutional investors, collectively representing USD800 of hedge fund investments globally. Survey participants – which included pensions, endowments, foundations, consultants, private banks, family offices, and funds of hedge funds – were probed on strategy preferences, allocation plans, and growth and return forecasts, among other things.

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