RenTech’s Jim Simons Donates a Record $500 Million to Stony Brook (Bloomberg)
Renaissance Technologies founder Jim Simons and his wife Marilyn are giving $500 million to Stony Brook University, the public college on Long Island where he taught before leaving to start his wildly profitable hedge fund. The gift, made by their Simons Foundation, will be the largest unrestricted donation to an institution of higher education in US history, according to a statement Thursday. The funds will go toward Stony Brook’s endowment.
SVB Securities Prepares Management Buyout Backed by Baupost (The Wall Street Journal)
Management bid was only one to emerge during bankruptcy proceedings this week for the former parent of Silicon Valley Bank. The investment banking business tied to Silicon Valley Bank is preparing a management buyout that has the backing of Seth Klarman’s hedge fund, Baupost Group, according to people familiar with the matter.
Polar Capital’s head of trading departs for rival hedge fund Millennium (The Trade News)
Polar Capital’s head of trading Alex Jenkins has left the boutique hedge fund to join rival Millennium, The TRADE can reveal. Her new title is unconfirmed. Polar Capital confirmed Jenkins’ departure. Millennium declined to comment. Jenkins has been head of trading at Polar Capital for three and a half years, joining in 2019 after serving with Highbridge Capital Management for five years as its head of European trading. Previously in her career she spent several years at Cantor Fitzgerald and Virtu Financial in equity sales trading roles. Jenkins won Trader of the year (hedge fund) at Leaders in Trading 2021 after also being recognised as a Rising Star of Trading and Execution in 2019.
ValueAct Calls for Private Dialogue with Seven & I After Losing Board Battle (Reuters)
ValueAct Capital has called for private dialogue with Seven & I Holdings Co Ltd after the U.S. hedge fund lost a public battle to change the leadership of the Japanese retail giant. The fund, in a letter to shareholders dated Wednesday, said it looked forward to “private and constructive dialogue” with the operator of the 7-Eleven and Speedway convenience store chains.
Healthcare: A Stock Picker’s Dream and Nightmare (Hedge Nordic)
Stockholm (HedgeNordic) – Trond Tviberg, one of the founding investment managers of Sector Asset Management’s healthcare-focused Gamma arm, embarked on a new venture after resigning from Sector in February 2021. Seeking a fresh challenge, Tviberg received an exciting proposition from Mads Andreassen, a former portfolio manager from the same Gamma team, to launch a new healthcare fund. Since September of last year, the duo has successfully managed Senior Healthcare Opportunities Fund, a low-net long/short equity fund specializing in the healthcare sector.
