Bill Ackman Scored on Pandemic Shutdown and Bounceback (The Wall Street Journal)
Over the past couple of years, the hedge-fund manager made two complex trades, one presaging the economy’s swift shutdown and the other its fevered reopening. His investments netted him nearly $4 billion in profit. As the coronavirus emerged, Bill Ackman made billions betting that the market was misjudging the virus’s economic toll. Then he did it again a year later.
Elliott, Vista Equity to Buy Software Firm Citrix in $16.5 bln Deal (Reuters)
Jan 31 (Reuters) – Hedge fund Elliott Management and investment firm Vista Equity Partners have agreed to buy Citrix Systems in a deal valued at $16.5 billion, the cloud computing company said on Monday. Reuters reported on Sunday that Elliott and Vista were nearing a $13 billion deal for Citrix, citing a person familiar with the matter, as they seek to tap the pandemic-driven boom in cloud computing.
Two Sigma’s VC Push (Institutional Investor)
With most of its hedge funds generating their best returns in three years, the quant specialist is busy developing new funds devoted to private companies. Two Sigma is raising money for two new venture capital funds. The quant specialist disclosed in separate regulatory filings that it is seeking capital for Two Sigma Ventures IV and Two Sigma Ventures Opportunity Fund II. Two Sigma Ventures IV is the firm’s fourth early-stage venture fund.
How to Get Accepted into Point72’s Ultra-Elite Analyst Training Program, Whose Acceptance Rate is Less Than 1% (Business Insider)
Steven Cohen‘s $23 billion hedge fund gets 16,000 applications a year for Point72 Academy. The academy is a 10-month training for college graduates looking to become investment analysts. The firm’s head of professional development shares what applicants can do to impress her. High grades from a top university and a two-year stint at an investment bank might be enough to get your foot in the door at some hedge funds.
Årets Hedgefond 2021 (Hedge Nordic)
Stockholm (HedgeNordic) – Long/short equity fund PriorNilsson Idea has been named the “Hedge Fund of the Year 2021” at the annual “Årets Fonder” awards organized by Swedish fund platform Fondmarknaden.se. The fund managed by Torgny Prior and Martin Lindqvist received the same recognition from Fondmarknaden.se back in 2019.
Contracted Collateral: Offtakes in Unlisted Infrastructure (Preqin)
Managers are adapting as government offtake structures become less generous. The flexibility of shorter contracts and merchant models will promote energy sector innovation. Offtake contracts reduce the risk of demand for the output of an asset investment, both in regard to volume and pricing. By securing the market before investment, managers can agree more favorable financial terms on the debt side.