Oil Correction Bets Pay Off for Energy Hedge Fund Westbeck (Hedge Week)
Energy-focused hedge fund Westbeck Capital has bagged its sixth consecutive monthly gain, as it “aggressively” tapped into buying opportunities during last month’s steep oil correction. The Westbeck Energy Opportunity Fund – Westbeck’s flagship long/short directional hedge fund strategy which trades across equities, futures and options – scored a 3.9 per cent gain in April, and has already started May positively, the firm said on Wednesday.
Bill Ackman Says He’s Built a Stake in Domino’s Pizza, Owns Roughly 6% (Bloomberg)
Bill Ackman has taken a stake in another big-name consumer company: Domino’s Pizza Inc. Ackman’s Pershing Square Capital Management has built a roughly 6% stake in the pizza chain, he said Wednesday, saying he believes the company has plenty of upside. Ackman said during The Wall Street Journal’s Future of Everything conference that his New York hedge fund bought a stake in the pizza operator after selling one in Starbucks Corp.
Perceptive Advisors Closes $515 Million Perceptive Xontogeny Venture Fund II, LP (Business Wire)
NEW YORK & BOSTON–(BUSINESS WIRE)– Perceptive Advisors, an investment management firm focused on the life sciences sector, today announced the first and final closing of Perceptive Xontogeny Venture Fund II, LP (“PXV Fund II”) with $515 million in capital commitments in an oversubscribed fund to further the firm’s early-stage life sciences platform. The close of PXV Fund II more than triples assets under management to $725 million in less than two years since the closing of the inaugural PXV Fund I, which launched Perceptive’s early-stage venture fund strategy. PXV Fund II includes existing investors from the inaugural fund, new investors including top-tier asset managers, endowments, foundations, family offices, and notable individual investors, and all of the PXV Fund II Partners.
Hedge Fund Tiger Global is Beating Out Silicon Valley VCs and Averaging More than 1 Startup Investment per Business Day so Far This Year. Here’s 110 of Them. (Business Insider)
A hedge fund is eating venture capital’s lunch. Tiger Global, a type of fund that raises outside capital to invest in a smorgasbord of asset types, has participated in 110 startup financings so far this year, including breakouts like Clubhouse, Stripe, and Hopin, according to Pitchbook data.
Month in Review – April 2021 (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic hedge funds advanced in April for the sixth consecutive month, with the industry gaining 4.1 percent in the first four months of 2021. Nordic hedge funds, as expressed by the Nordic Hedge Index, were up 1.2 percent on average (93 percent reported) last month, with equity managers driving the gains.
Hedge Fund Elliott to Buy Bankrupt Stationery Retailer Paper Source (The Wall Street Journal)
Hedge fund Elliott Investment Management LP, which owns the Barnes & Noble bookstore chain, Tuesday said it agreed to buy stationery and gift retailer Paper Source Inc. out of bankruptcy. Elliott said the deal will allow Chicago-based Paper Source to emerge from chapter 11 with a reduced debt load and roughly 130 stores across the U.S., along with its papersource.com website and its Waste Not Paper by Paper Source wholesale division.
Equity Hedge Fund Argonaut Capital Sees “Treasure Trove” of Shorting Opportunities (Hedge Week)
Long-short equity hedge fund Argonaut Capital is eyeing a potential “treasure trove” of short opportunities in previously well-regarded stocks, as the changing inflationary environment and opening up of economies impacts markets. The London-based equities-focused firm’s core strategy, which is built around Argonaut founder, CEO and CIO Barry Norris’s ‘earnings surprise’ investment process, has gained 4.1 per cent so far in May, having rebounded from an April loss of 0.34 per cent.