Pershing Said to Seek $1 Billion to Fund Universal Music Bet (Bloomberg)
Bill Ackman’s hedge fund Pershing Square Capital Management LP is in discussions to raise $1 billion to help fund its bet on Vivendi SE’s Universal Music Group, according to people with knowledge of the matter. The firm is set to raise the capital, which would supplement $3 billion of its own capital, via a so-called sidecar vehicle, the people said. It would represent Pershing’s seventh co-investment vehicle, and facilitate the purchase of a 10% stake in UMG, one of the people said.
Crispin Odey’s Hedge Fund Places Short Bet Against Meme Stock AMC (Financial News)
The hedge fund of City investor Crispin Odey has placed a bet against the shares of cinema chain AMC, one of a group of so-called meme stocks favoured by retail traders this year. A short position — which bets that the share price of the target firm will fall — has been taken out against AMC by Odey manager James Hanbury, the Financial Times reported.
Warren Buffett’s Berkshire Hathaway has Scored an Almost $2 Billion Gain on DaVita Stock in the Past Year (Business Insider)
Warren Buffett‘s Berkshire Hathaway has scored almost a $2 billion gain on DaVita stock in the past year, likely propelling the kidney-dialysis specialist into the conglomerate’s 10 most-valuable portfolio holdings. The famed investor’s company holds 36.1 million shares of DaVita, giving it a 34.4% stake, a regulatory filing showed this week. DaVita’s stock price closed at a record high of $134 on Wednesday, valuing Berkshire’s position at $4.8 billion – up 60% from about $3 billion a year ago.
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Copper.co Expands to US Market Following Alan Howard Investment (Coin Telegraph)
United Kingdom-based digital asset and trading platform provider Copper.co is stepping into the United States market after appointing Glenn Barber as head of sales and development. Barber’s appointment to lead the new U.S. office comes as “the next step in the company’s expansion” strategy. Headquartered in London, Copper.co has managed to raise $84.3 million through funding rounds, with the latest being a Series B investment that helped the company raise $50 million. As reported recently by Cointelegraph, the previous funding also saw the involvement of Alan Howard, a billionaire hedge fund manager who led a $25-million extension in the mix, bringing up the funds to $75 million in total.
Hedge Fund Manager Florian Court Capital Partners with Abu Dhabi Investment Office (Hedge Week)
London hedge fund manager, Florin Court Capital, is expanding into the UAE by partnering with the Abu Dhabi Investment Office (ADIO) under its USD545 million Innovation Programme. As part of the deal, Florin Court will establish its new trading, research and operations hub in the Abu Dhabi Global Market (ADGM), the Emirate’s international financial centre and expand their international footprint from Abu Dhabi. This follows the UK’s post-Brexit investment partnership deal with the UAE, announced earlier this year and demonstrates a further strengthening of ties between the UK’s leading asset managers and the Gulf state.
Buying Carbon Credits for the Greater Good (Hedge Nordic)
Stockholm (HedgeNordic) – The European Union launched its Emissions Trading System (EU ETS) in 2005 in an effort to create incentives for power generation and energy-intensive industries to slash CO2 emissions. With some of the system’s structural deficiencies of oversupply now fixed, the European Green Deal unveiled this July and broader efforts to cut carbon emissions, the price of carbon credits traded in Europe soared to over €50 per metric ton of carbon dioxide.
Wednesday 8/4 Insider Buying Report: AMG, EPD (Nasdaq.com)
At Affiliated Managers Group, a filing with the SEC revealed that on Monday, Director Dwight D. Churchill purchased 1,000 shares of AMG, at a cost of $160.89 each, for a total investment of $160,890. Affiliated Managers Group is trading down about 0.4% on the day Wednesday. Before this latest buy, Churchill bought AMG at 2 other times during the past twelve months, for a total cost of $137,240 at an average of $68.62 per share. And at Enterprise Products Partners, there was insider buying on Friday, by Director John R. Rutherford who purchased 6,000 shares at a cost of $22.73 each, for a total investment of $136,375. Before this latest buy, Rutherford made one other purchase in the past year, buying $76,880 shares for a cost of $19.22 each. Enterprise Products Partners is trading off about 0.7% on the day Wednesday. Investors can pick up EPD at a price even lower than Rutherford did, with the stock changing hands as low as $22.14 at last check today which is 2.6% below Rutherford’s purchase price.
The Vice Pres. Corp. Controller of Service International (NYSE: SCI) is Selling Shares (Analyst Ratings)
On August 3, the Vice Pres. Corp. Controller of Service International (SCI), Tammy Moore, sold shares of SCI for $1.36M. Following Tammy Moore’s last SCI Sell transaction on May 12, 2021, the stock climbed by 9.8%. In addition to Tammy Moore, 3 other SCI executives reported Sell trades in the last month. Based on Service International’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $988 million and quarterly net profit of $158 million.
Carvana Co (CVNA) CFO Mark W. Jenkins Sold $3.4 million of Shares (Guru Focus)
CFO of Carvana Co, Mark W. Jenkins, sold 10,000 shares of CVNA on 08/02/2021 at an average price of $336.02 a share. The total sale was $3.4 million.
Steve Cohen’s Point72 Ventures Makes First Crypto Bet (Bloomberg)
Steve Cohen’s Point72 Ventures has made its first cryptocurrency investment, backing analytics firm Messari Inc.
