Hedge Fund and Insider Trading News: Carl Icahn, Paulson & Co., Brevan Howard Asset Management, Archegos Capital Management, Enviva Partners LP (EVA), Teradyne, Inc. (TER), and More

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Billionaire Investor Carl Icahn Defends Himself After ProPublica Says He Paid No Federal Income Taxes on $544 Million Declared (Business Insider)
Billionaire investor Carl Icahn declared $544 million in total income between 2016 and 2017, but he paid no federal income taxes in either year, ProPublica said in a bombshell investigation report on Tuesday. The Icahn Enterprises boss explained in a strongly worded statement to the news outlet that he didn’t owe those taxes because his taxable income was zero in those years. He also flatly rejected the idea that he was improperly avoiding taxation.

Greek Bank Stocks Surge, and One Lender Looks to Take Advantage (The Wall Street Journal)
Greek banks, once at the epicenter of Europe’s financial troubles, have been a hot bet for investors anticipating a strong economic rebound from the Covid-19 pandemic. But a surprise $1 billion share sale to fuel growth at one of the country’s big four lenders, Alpha Services and Holdings SA, is stretching the limits of some investors’ enthusiasm. Paulson & Co., Alpha’s biggest shareholder after a Greek state-owned fund, with around 7%, has voted against the capital raise, according to a person familiar with the matter. Proxy adviser ISS is also advising a vote against the proposal, which will be decided at a shareholder meeting on June 15.

Marqeta Prices IPO Above Range, Valuing Startup at $15 Billion (Reuters)
NEW YORK (Reuters) -U.S. payments startup Marqeta, which counts the likes of Uber and hedge fund Coatue among existing backers, on Tuesday priced its initial public offering (IPO) well above the target range to raise $1.2 billion, the company said in a statement. Marqeta sold 45.45 million shares at $27 per share. It had earlier set a price range of $20 to $24 a share.

Problem Solvers: How Brevan Howard Spin-Out Quant Platform SIGTech is Building a “Data Refinery” for Hedge Funds and Asset Managers (Hedge Week)
Spun out from Brevan Howard Asset Management in 2019, SIGTech is a London-based fintech company providing what founder and CEO Bin Ren describes as a “next generation quant platform”. In the two years since launch, the firm has steadily built an information evaluation, curation and analysis platform supporting data-driven, rule-based systematic investment processes for asset managers and hedge funds globally. “We want to solve the technology and engineering problems for asset managers, hedge funds and asset owners who are repeatedly solving the same problems all by themselves, over and over again,” Ren says.

Credit Suisse Scraps Plan to Back Trader’s Fund Amid Crises (Bloomberg)
Credit Suisse Group AG canceled a plan to back star trader Hamza Lemssouguer’s credit fund in a stunning about-face as it dials back risk after the implosion of Archegos Capital Management and Greensill Capital. The Swiss lender agreed with Lemssouguer that he should take his Arini European Credit fund outside the bank, according to an internal memo seen by Bloomberg. Credit Suisse will not invest any money or retain an ownership stake, said a person familiar with the matter.

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