Ackman, Thiel Back Investment Firm Fighting ‘Political Agendas’ (Bloomberg)
Hedge fund manager Bill Ackman and Peter Thiel, an ally of former President Donald Trump, are backing a startup investing firm that says it plans to go head to head against large money managers that promote stakeholder capitalism and “political agendas.” Strive Asset Management, co-founded by pharmaceutical investor Vivek Ramaswamy, has raised about $20 million, according to a statement Tuesday. Ramaswamy said large fund managers are investing their clients’ money to influence US public companies to further “political agendas” that many of their clients disagree with.
Citadel Founder Ken Griffin Wins Blue Origin Spaceflight Auction, Donating Two Seats to NYC Teachers (CNBC)
Ken Griffin, billionaire founder and CEO of hedge fund Citadel, placed the winning $8 million bid in an auction Monday for a seat on a spaceflight with Jeff Bezos’ Blue Origin. Bezos’ company donated two seats on its New Shepard rocket for a “buy one give one” auction at the non-profit Robin Hood’s annual benefit for New York City, with the second seat going to a NYC teacher.
Billions Lost, Pissed Investors, and Uncharacteristic Tweets: a Look at a Horrible Month for Growth Hedge Funds (Business Insider)
Billionaire Dan Sundheim is a self-described fan of Amazon founder Jeff Bezos, even naming his hedge fund D1 Capital after Bezos’ day one philosophy that harps on constantly innovating to avoid complacency. But at the end of a tough April, Sundheim took to Twitter to air out his frustrations over Amazon – one of his biggest investments – as his hedge fund was hit with losses in April.
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Tiger Global Hit by $17 bln Losses in Tech Rout – FT (Reuters)
May 10 (Reuters) – New York-based Tiger Global has been hit by losses of around $17 billion during this year’s technology stock selloff, marking one of the biggest dollar declines for a hedge fund in history, the Financial times reported here on Tuesday. The firm, one of the world’s biggest hedge funds, has erased around two-thirds of its gains in four months, the newspaper said, citing calculations by LCH Investments.
Opportunities Abound for Australian Businesses and Their Investors (Preqin)
KKR’s longstanding experience of investing in Australia shows there are abundant opportunities for value creation and growth in the region. KKR is today one of the largest private investors in Australia. How has the investment landscape changed since 2006, when KKR first started investing in Australia? Australia’s investment landscape has changed significantly since then. The economy has shifted toward services and digitization, particularly over the past ten years, creating new opportunities for both public and private capital to support local businesses redefining legacy industries.
North Rock Capital opens first office in Asia (Hedge Week)
North Rock Capital Management LLC, the US hedge fund ($3 billion AuM) is opening its first Asian office in Hong Kong, according to a report from Bloomberg. The hedge fund has opted not to follow suit, despite years of political unrest and Covid-19 restrictions in the city, and has recruited former Credit Suisse prime broker, Simon Chow, to lead the new project.
What Cramer is Watching Tuesday — David Tepper Makes a Big Call, Cathie Wood Under Fire (CNBC)
What I am looking at May 10, 2022: Watching the collapse of the Cathie Wood stocks and the remarkable insistence to keep buying them endlessly. They are at the heart of the blast zone and even though the Ark Invest CEO is running an active ETF, she is being shot against every day by sellers and short-sellers. I know what it is like to be shot against even though I wasn’t running an ETF. Enough with the decision to call it something other than a hedge fund.
Hedge Fund Aurelius Moves Headquarters to South Florida From NYC (Bloomberg)
Hedge fund Aurelius Capital Management has moved its headquarters to South Florida from New York, joining the wave of finance firms that have either relocated or expanded to the Sunshine State during the pandemic. Aurelius now lists its address as 3825 PGA Blvd. in Palm Beach Gardens, according to filings with the U.S. Securities and Exchange Commission. As recently as this year, the hedge fund reported it was based at 535 Madison Ave. in Manhattan.
Tuesday 5/10 Insider Buying Report: TARS (Nasdaq.com)
On Thursday, Director Michael Ackermann purchased $1.35M worth of Tarsus Pharmaceuticals, purchasing 100,000 shares at a cost of $13.50 a piece. This purchase marks the first one filed by Ackermann in the past year. Tarsus Pharmaceuticals is trading up about 3.8% on the day Tuesday. Bargain hunters can grab TARS at a price even lower than Ackermann did, with the stock trading as low as $11.43 at last check today which is 15.3% below Ackermann’s purchase price.
Executives Buy Around $141M Of 4 Stocks (Benzinga)
Appian: The Trade: Appian Corporation (APPN) 10% owner Appian acquired a total of 784,538 shares at at an average price of $45.13,. To acquire these shares, it cost around $35.4 million. Kymera Therapeutics: The Trade: Kymera Therapeutics, Inc. (KYMR) Director Mark Lampert acquired a total of 250,000 shares at an average price of $19.46. To acquire these shares, it cost around $4.87 million.
