Elon Musk Twitter Acquisition Gets $8.5 Million from Stamford Hedge Fund Cartenna (CT Insider)
STAMFORD — Cartenna Capital, a Stamford-based investment management firm, has committed $8.5 million as an equity investor to support Elon Musk’s planned acquisition of Twitter, according to Securities and Exchange Commission filings related to the transaction. Musk, who is also the chief executive officer of electric-vehicle maker Tesla, has secured about $7 billion from 19 investors, including Cartenna — financing that would reduce his personal risk in completing the $44 billion takeover of Twitter. If Musk enacts his plan, the social media giant would become a private company.
Carl Icahn’s Private Hedge Fund Surged in the First Quarter (Institutional Investor)
The octogenarian activist’s energy bets paid off handsomely. Carl Icahn’s investment portfolio posted a 9.6 percent gain in the first quarter. Performance was driven by the long book, which was up 15.1 percent for the quarter, while the short book offset gains by 5.4 percent. The investment performance results are contained in the first-quarter report of publicly traded Icahn Enterprises…
Kohl’s Fends Off Activist Macellum’s Bid to Overhaul Board (Bloomberg)
Activist investor Macellum Capital Management’s bid to overhaul the board of Kohl’s Corp. was rejected by investors on Wednesday. Kohl’s shareholders voted against all 10 directors nominated by Macellum, according to a preliminary tally, the retailer said in a statement. Macellum wasn’t immediately available to comment.
Three Big Asset Managers File Joint Climate Resolutions at J-Power (Reuters)
TOKYO (Reuters) – Three European asset managers, including the largest, Amundi, said on Wednesday they had jointly filed climate-change resolutions at Japanese electricity generator Electric Power Development Co Ltd, known as J-Power. In what they say are the first climate-related proposals by an institutional investor group to a Japanese firm, Amundi, hedge fund Man Group and HSBC Asset Management called on J-Power to set credible emissions-reduction targets and to disclose plans to achieve them.
Flow Launches $725m Blockchain Development Fund with A16z, Digital Currency Group A16z, Coatue, and Other Investors (Opalesque)
NBA Top Shot’s host blockchain, Flow, is getting a $725 million boost through a new Ecosystem Fund backed by its developer’s company’s investment arm, Dapper Ventures. The fund is backed by Andreessen Horowitz, Coatue, Union Square Ventures, Coinfund, Digital Currency Group, and Cadenza Ventures, among others, and is aiming to incentivize more crypto devs to choose Flow as the blockchain they build their projects on with investments, token grants, and development support.
