Scaramucci Says China’s Didi Crackdown an Assault on Capitalism, ‘Form of Political Terrorism’ (CNBC)
Hedge fund founder Anthony Scaramucci told CNBC on Wednesday that the Chinese government’s crackdown on Didi Global, just days after the ride-hailing giant went public in the U.S., is “a direct assault on global capitalism.” “The bad news for the Chinese and the United States now is, if you’re a capital allocator in the United States, the risk premium just went up dramatically in China,” the founder and co-managing partner of SkyBridge said on “Squawk Box.”
Billionaire Investor Seth Klarman Bets $200 million on Outbrain Ahead of the Ad-Tech Group’s IPO (Business Insider)
Billionaire investor Seth Klarman has plowed $200 million into Outbrain ahead of its planned IPO, the advertising-technology group revealed this week in an amended registration statement. Outbrain sold $200 million worth of bonds to Klarman’s Baupost Group hedge fund in a private placement on July 1, two days after publicly filing to join the stock market. Baupost can exchange the bonds for convertible notes, which can be swapped for common stock under “certain circumstances,” Outbrain’s updated filing to the Securities and Exchange Commission said.
Nordic Players Collect HFM Awards (Hedge Nordic)
Stockholm (HedgeNordic) – Seven players from the Nordic hedge fund scene were distinguished at the 2021 HFM European Performance Awards hosted at York Lawns within Regent’s Park in London on July 6. The winners were determined by a judging panel made up of institutional and private investors and investment consultants, with the judges considering absolute performance, standard deviation of returns, outperformance of relevant benchmarks, and other characteristics such as size, investment strategy, among others.
How Glenview and Impala Sidestep Big Tech and Still Remain Top Performers (Institutional Investor)
Two top hedge funds firms that mostly avoid popular technology stocks suffered setbacks in June. Even so, they remain among the top hedge fund performers for the first half of the year. Larry Robbins’ Glenview Capital Management lost 2.26 percent in June, according to an investor. It was still up 5.74…
Venture Capital Healthcare Deals in Asia-Pacific Boom in H1 2021 (Preqin)
Deal pipelines in the healthcare sector are maturing, and China in particular is ripe for venture capital and private equity investment. Venture capital (VC) deal activity in Asia-Pacific’s healthcare sector has accelerated since the onset of the pandemic. Preqin data shows that aggregate deal value almost reached $20bn in 2020 alone, a figure 2.5x greater than the previous year’s total. At the midpoint of 2021, momentum for VC transactions in the sector looks set to continue; 561 healthcare-related VC deals have been concluded so far this year, for an aggregate value of $14bn – more than 67% of 2020’s level.