Bridgeport to Provide Liquidity Solution for Hedge Fund Investors (Hedge Week)
Bridgeport Financial Technology is working with various counterparties to provide hedge fund investors with immediate liquidity through loan facilities collateralised by their fund investments. The company is poised to leverage key features of its private fund transaction and marketplace lending platform, BridgePort, in the wake of an anticipated surge in hedge fund redemption suspensions. Through a unique investor-to-investor (i2i) marketplace lending feature, the BridgePort Liquidity Exchange (BLX) matches liquidity seekers with liquidity note investors. BLX allows private fund managers to offer alternative liquidity optionality to investors, while avoiding portfolio disruption, asset valuation challenges and “fire sales”, or interference with existing fund liquidity terms.
Hedge Fund Employees Praise Founder for Actions During Virus (efinancialcareers.com)
As the global coronavirus pandemic continues, it’s becoming apparent that the way employers treat employees during the crisis is likely to cast an enduring shadow. With some banks accused of encouraging people to come into work when (employees say) it’s not strictly necessary, organisations that proactively sent staff home early in the pandemic may come to be regarded far more fondly than others. One of those in this category is WorldQuant, the quantitative hedge fund founded by Igor Tulchinsky that manages over US$7.5bn in assets on behalf of Millennium Management and other investors. While banks dithered in their initial reaction to the virus, employees say Tulchinsky acted swiftly and sent WorldQuant’s U.S. employees home on 6 March.
A Director at Public Storage (NYSE: PSA) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Public Storage (PSA), Wayne Hughes, bought shares of PSA for $471.3K. Following Wayne Hughes’ last PSA Buy transaction on January 11, 2019, the stock climbed by 1.0%. In addition to Wayne Hughes, one other PSA executive reported Buy trades in the last month.
Notable Insider Buys In The Past Week: Carvana, MGM And More (Benzinga)
Insiders continued to take advantage of fallen share prices last week. The following are some of the most noteworthy insider purchases reported in the past week. A pair of beneficial owners took advantage of a direct offering to add a total of 955,500 or so Carvana Co CVNA 17.66% shares. At $45 per share, that cost them around $43 million. The used car company said it raised money for a restructuring effort. MGM Resorts International: MGM 18.39% saw President William Hornbuckle and other insiders pick up almost 2.2 million shares for $10.60 to $12.35 each. That totaled over $25.51 million. Hornbuckle’s stake is up to over 148,700 shares. Virginia-based tech company Appian Corp NASDAQ:AAPN saw a beneficial owner return to the buy window. At prices ranging from $35 to $42 for 384,400 or so shares, the latest purchases added up to more than $14.75 million.
Citrix Systems Inc (CTXS) EVP of Engineering Rotterdam Jeroen Van Sold $1.2 million of Shares (Guru Focus)
EVP of Engineering of Citrix Systems Inc., Rotterdam Jeroen Van, sold 8,386 shares of CTXS on 04/03/2020 at an average price of $142.01 a share. The total sale was $1.2 million. Citrix Systems Inc provides virtualization, networking and cloud infrastructure solutions. It provides a complete and integrated portfolio of application delivery, virtualization, mobility, network delivery and file sharing solutions.
SEC Awards Approximately $2 Million to Whistleblower (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has announced an award of approximately $2 million to a whistleblower who provided vital information and assistance that substantially contributed to an ongoing investigation. The whistleblower’s information would have been difficult for the agency to obtain absent the tip. “The whistleblower’s actions in this matter were extraordinary,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The whistleblower expeditiously reported the information to the Commission and provided valuable assistance despite implied threats from the wrongdoers.” The SEC has awarded over $398 million to 78 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators.
