Activist Investor Elliott Pushes Shake-Up at GlaxoSmithKline (The Wall Street Journal)
Activist investor Elliott Management Corp. has intensified pressure on GlaxoSmithKline PLC, calling on the pharmaceutical giant to replace members of its board and launch a process to decide whether Chief Executive Emma Walmsley should continue to lead the group. The hedge fund, known for waging forceful campaigns for change at companies in which it invests, on Thursday said Glaxo had a poor record of execution, that its share price had underperformed for years and that its management lacked credibility.
Steve Cohen Group Buys Sports-Collectible Shop Goldin Auctions (Bloomberg)
An investment group led by hedge fund billionaire Steve Cohen is buying Goldin Auctions, the premier auction house for sports collectibles, adding to their growing empire in the collectibles and alternative investments industry. Collectors Holdings — owned by Cohen, D1 Capital Partners’ Dan Sundheim and health-care millionaire Nat Turner — is buying Goldin Auctions, which collectible-industry veteran Ken Goldin founded in 2012. Terms of the deal weren’t disclosed, though the current owners of Goldin Auctions will get equity in the acquiring firm, according to Chief Executive Officer Ross Hoffman.
Carlyle Takes Over Trans Maldivian Airways from Bain Capital (Reuters)
NEW YORK (Reuters) – Carlyle Group Inc said on Thursday it has taken a majority stake in Trans Maldivian Airways (TMA), the world’s largest seaplane operator, from buyout firm Bain Capital following a debt restructuring deal. TMA began negotiating debt relief with Carlyle and its other creditors after the airline grounded most of its fleet of 56 seaplanes last year, as the COVID-19 pandemic halted travel and tourism into the Maldives.
Alex Oakenman / shutterstock.com
SkyBridge Capital’s Anthony Scaramucci Says He’s Launching an Ethereum Fund and will File for an ETF as Well (Business Insider)
SkyBridge Capital’s CEO Anthony Scaramucci confirmed in a podcast published this week that his investment firm is launching a private ethereum fund on July 1st and will file for an ether exchange traded fund (ETF) as well, as they branch out from bitcoin. The investor spoke about SkyBridge Capital‘s crypto expansion plans in an episode of The Scoop podcast published on Tuesday.
Greenlight’s June Swoon (Institutional Investor)
David Einhorn’s hedge fund is back in the red despite successful long bets. David Einhorn’s Greenlight Capital is back in the red after an ugly June.The value-driven long-short fund suffered a sharp 7.6 percent decline last month and is now down 3 percent for the year, according to a person who has seen the performance data.
