Why Private Capital Is an Agent of Recovery in France (Preqin)
France’s private equity industry supports about 8,300 companies, making it the second-largest center in Europe and the largest in the EU. It benefits from the vitality of the economic fabric in France, with a large pool of SMEs, a strong entrepreneurial culture, and a real capacity for innovation embodied by the technology sector. Despite the impact of the COVID crisis, private equity activity stayed strong in 2020 in preparation for the post-pandemic recovery. Navigating a way out of the COVID crisis will be crucial for all companies, many of which will have to accelerate their transformation to stay in the race. Those with support and capital from private equity funds will have a competitive advantage.
BlackRock Raises $673m for the Climate Finance Partnership (Preqin)
BlackRock, the world’s largest asset manager, has achieved a US$673m final fundraise for the Climate Finance Partnership (CFP). CFP is a flagship public-private finance vehicle focused on investing in climate infrastructure across emerging markets in order to help accelerate the global transition to a net-zero economy. A global consortium of 22 investors including governments, philanthropies, and institutional investors committed to the fundraising, which was oversubscribed and exceeded its target of $500m. CFP will target investments in select non-OECD countries in Asia, Latin America, and Africa.
Sculptor Hedge Fund Hit by $42 Million of Third-Quarter Outflows (Bloomberg)
(Bloomberg) — Sculptor Capital Management’s flagship hedge fund recorded $42 million of outflows in the third quarter, even as the fund gained 7.4% through the first nine months of the year. The hedge fund assets totaled $11.5 billion as of Sept. 30, Sculptor said Wednesday in a statement. Despite the latest client withdrawals, the multistrategy vehicle and associated portfolios pulled in about $155 million on a net basis so far in 2021, setting it up for its first year of inflows since 2014.
Hedge Funds have Become the Latest Victims of Inflation (New York Post)
After slamming shoppers, manufacturers and tech giants alike, inflation is poised to claim a new set of victims: Wall Street’s smartest hedge funds. Caught flat-footed by the Federal Reserve’s plans to begin tapering its bond purchases – confirmed by the central bank on Wednesday after more than a week of market-churning speculation – a slew of top-tier hedge funds are now coping with losses from overly optimistic bets that inflation is only a temporary phenomenon. Last week, major money shops including Cedar Rock, Edgewood, Viking, Marshfield, Point72 and Lone Pine appeared to sell out of some stock positions at such a clip that they raised eyebrows, sources told The Post.
Thursday 11/4 Insider Buying Report: LSXMA, FISV (Nasdaq.com)
On Monday, Liberty Media – SiriusXM Group’s , R. Ted Weschler,, made a $267.45M buy of LSXMA, purchasing 5,347,320 shares at a cost of $50.02 each. Weschler, was up about 8.0% on the purchase at the high point of today’s trading session, with LSXMA trading as high as $54.03 in trading on Thursday. Liberty Media – SiriusXM Group is trading up about 3.2% on the day Thursday. And also on Monday, Director Denis Oleary bought $1.56M worth of Fiserv, buying 15,700 shares at a cost of $99.35 a piece. Before this latest buy, Oleary purchased FISV at 2 other times during the past twelve months, for a total investment of $2.40M at an average of $111.16 per share. Fiserv is trading up about 2.4% on the day Thursday. So far Oleary is in the green, up about 5.5% on their purchase based on today’s trading high of $104.77.
Notable Keros Therapeutics Insider Makes $2.0M Sale (Benzinga)
Julius Knowles, Director at Keros Therapeutics (NASDAQ:KROS), made a large insider sell on November 3, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Knowles sold 47,651 shares of Keros Therapeutics at prices ranging from $41.65 to $43.04. The total transaction amounted to $2,007,129.
The EVP & COO of Waste Connections (NYSE: WCN) is Selling Shares (Analyst Ratings)
Yesterday, the EVP & COO of Waste Connections (WCN), Darrell Chambliss, sold shares of WCN for $1.68M. Following Darrell Chambliss’ last WCN Sell transaction on August 06, 2019, the stock climbed by 49.3%. Based on Waste Connections’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.6 billion and quarterly net profit of $114 million.
