Billionaire Investor Bill Ackman Offers New Hints on Possible Targets for His Record-Breaking SPAC (Business Insider)
Billionaire hedge fund manager Bill Ackman gave new hints at which companies he may target with his record-breaking blank-check firm. Pershing Square Tontine Holdings is looking at employee-owned and family-controlled businesses for a potential merger, Ackman told investor Whitney Tilson in an interview, according to Bloomberg. Ackman previously indicated his special-purpose acquisition company was eyeing “mature unicorns” and “high-quality, venture-backed businesses.”
How Citadel CEO Ken Griffin Built a $1 Billion Private Property Portfolio (The Wall Street Journal)
In the early 1900s, the country’s wealthiest businessmen including William Randolph Hearst and John D. Rockefeller built sprawling, gilded estates. Living at that kind of boundless scale fell out of favor with subsequent generations, however, and these kinds of estates were either subdivided or turned over to the state or to preservationists. Now, hedge-fund multibillionaire Ken Griffin appears to be mounting a single-handed campaign to bring that level of extravagance back into vogue.
Meet Billionaire Politician Tom Steyer’s Wife, A Pioneering Impact Investor On A Mission To Spend $1 Billion Righting Society’s Wrongs (Forbes)
On March 1st, as she gathered with thousands of others to march across the Edmund Pettus Bridge in Selma, Alabama on the 55th anniversary of Bloody Sunday, Kat Taylor burst into a rendition of Aretha Franklin’s “Do Right Woman, Do Right Man.” These days, Taylor is best known as the singing spouse of billionaire climate change activist and ex-Democratic presidential candidate Tom Steyer. But in the world of impact investing, she’s famous in her own right for the breadth and ambition of her efforts, as well as her musical shtick. Indeed, Taylor’s efforts are the big reason the couple made the Forbes Impact 50 for 2020.
Pareto Twins Move Up in Lockstep (Hedge Nordic)
Stockholm (HedgeNordic) – Despite using different legal structures, and thereby different investment rules and limits, and focusing on slightly different market segments, both Pareto Nordic Alpha and Pareto Nordic Omega moved up in lockstep last month. The two Nordic-focused long/short equity funds run by Christian Nygaard made last month’s top ten list of best performers in the Nordic hedge fund industry, with their September gains taking their year-to-date advance into double digits.
Citadel Securities to Buy NYSE Market-Making Unit of Smaller Rival IMC (Bloomberg)
Electronic trading giant Citadel Securities will bolster its already huge presence at the New York Stock Exchange by buying the NYSE market-making business of smaller rival IMC Financial Markets, the companies said. The deal would solidify Citadel Securities’ status as the largest designated market maker at the exchange. DMM firms are tasked with ensuring orderly trading of stocks listed on the NYSE. They gain certain trading privileges in return, and their blue-jacketed traders occupy a prominent position in the center of the exchange’s historic trading floor.
‘A’ Rating Propels Trium ESG Emissions Impact Fund into Square Mile’s ‘Academy of Funds’ (Hedge Week)
The Trium ESG Emissions Impact Fund has been included in Square Mile’s Academy of Funds, having been awarded an ‘A’ rating by the investment consultant. The Academy is a showcase of recommended funds for advisers and clients. Since launch, the fund, which is run by a team led by portfolio manager Joe Mares, has delivered consistently strong risk-adjusted returns, despite acute market volatility. In September, the fund returned +76bps, taking year-to-date performance to +9.34 per cent. The equity market neutral strategy, which brings about positive impact by engaging with companies in high-emitting sectors to implement lower CO2 emissions, has also demonstrated it is a source of dependable uncorrelated returns. Since launch, the fund has had a -0.29 correlation and a -0.06 beta to the STOXX Euro 600.