Carlson Capital is Losing its Chief Risk Officer and Top Lawyer as Exits Mount at the $4.8 Billion Hedge Fund (Business Insider)
The exodus at Clint Carlson‘s eponymous hedge-fund manager continues. The $4.8 billion Dallas-based firm has lost several top executives recently including chief legal officer Joe Brucchieri, head of human resources Nicole Mascera, and deputy chief legal officer Whitney Fogle Lewis. Chief risk officer Jehan Akhtar is also set to retire in May.
Swiss Watchdog Sees Lessons to Learn from Archegos Collapse (Bloomberg)
Switzerland’s top financial regulator said the collapse of Archegos Capital Management LP will have consequences for how banks deal with risk as one of the country’s biggest lenders counts its losses from exposure to the investment firm. “This will be meticulously examined and there will be lessons, maybe for regulators, maybe for the banks who were involved, maybe for supervisors,” Mark Branson, the head of Swiss regulator Finma, said Wednesday in Berlin. “It’s too early to say what, but it shows that there are enormous dangers in this market environment and a lot of leverage in some investor portfolios.”
Insight Partners Amasses $1.56 Billion for Preferred Equity Deals (The Wall Street Journal)
Insight Partners has raised $1.56 billion for a new fund initially focused on structured preferred equity investments in technology companies, giving the fund’s limited partners an opportunity to collect fixed returns. Insight Partners Opportunities Fund I LP, the firm’s first fund outside of its flagship growth-investment vehicles, will provide alternative financing such as structured preferred equity investments, according to the firm.
Rawpixel.com/Shutterstock.com
Commodities Hedge Fund Westbeck Outflanks Benchmarks, as Oil Correction Offers “Big Buying Opportunity” in Q2 (Hedge Week)
The recent dip in oil markets is a “healthy correction” which heralds attractive buying opportunities, according to London-based commodities-focused hedge fund Westbeck Capital Management, which maintained its positive Q1 momentum despite March’s pullback. The Westbeck Energy Opportunity Fund – which trades oil markets using a long/short directional approach across equities, futures and options – gained 6.2 per cent last month, outflanking industry benchmarks Brent (Total Return), which lost 1.4 per cent in March, and XOP, which added 1 per cent. The gain follows an impressive 32.8 per cent February advance, which helped bring the strategy’s first quarter returns to more than 40 per cent.
Tiger Global and Coatue Set for Gains as Grab and Didi Go Public (Institutional Investor)
The Tiger Cubs are among at least four hedge fund firms with private investments in the two ride-hailing and delivery companies. Tiger Global Management and Coatue Management are among the investors behind two huge ride-hailing and delivery companies that are planning to go public soon.Singapore-based Grab Holdings on Tuesday said it plans to merge with blank-check company Altimeter Growth Corp. in the largest-ever SPAC deal, which values Grab at around $40…
Startup Pools Capital for Event-Driven Plays (Green Street)
An event-driven shop that started trading around February 2020 has launched its first commingled hedge fund. Two Seas Capital, led by former VR Capital and One East Capital executive Sina Toussi, took in $100 million for its Two Seas Global fund on March 1. Together with two special-purpose vehicles it set up to house single investments last year, the New York operation now has more than $200 million under management. Seed-capital firm Borealis Capital so far has supplied the majority of the capital for the new fund. The entity also has received backing from principals of VR and from One East co-founder Nat Klipper, who no longer works at that firm.
New Crypto Hedge Fund to Benefit from “Once in a Generation Opportunity” (Opalesque)
Paul Frost-Smith, most recently CEO and Head of Markets at Haitong Securities, has spent the last two years working with developers Larry Grant and Marc Deveaux to build three crypto-strategies, known collectively as Chimera. The co-founders are now preparing to launch a crypto hedge fund called Argentium Digital Asset Management, after recently launching a Cayman vehicle called The Argentium Chimera Fund, hosted by the AK Jensen platform. “The decentralized nature of digital assets and cryptocurrencies, and the differences in infrastructure and liquidity between exchanges, presents a unique opportunity for arbitrage and liquidity provision,” says Frost-Smith. “I believe we are at an inflection point in the adoption of crypto assets, and that they will become increasingly important to diversification of investor portfolios and to the way in which value is perceived and stored.
