Hedge Fund and Insider Trading News: Chase Coleman, Michael Hintze, Ray Dalio, Mike Novogratz, Lone Pine Capital, GreenSky LLC (GSKY), Charles Schwab Corporation (SCHW), and More

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Billionaire Mike Novogratz Says Bitcoin will Hit $65,000 — and Tells ‘Game of Thrones’ Star Maisie Williams to Buy the World’s Most Popular Cryptocurrency (Business Insider)
The billionaire investor Mike Novogratz predicted that the price of bitcoin would hit $65,000 while offering advice to the “Game of Thrones” star Maisie Williams on Twitter on Monday. The actor took a poll on Twitter on whether she should buy bitcoin, the world’s most popular cryptocurrency. Novogratz responded by saying he expected the price to hit $20,000 before getting to $65,000 because of a “network effect” in which there are a ton of new buyers and low supply.

Michael Hintze Ramps Up Succession After Bruising Year for Hedge Fund (Bloomberg)
Billionaire hedge fund manager Michael Hintze has stepped up succession planning after a turbulent year at his investment firm. Hintze disclosed plans to form a group of senior partners at his London-based firm CQS, according to a letter on Tuesday to his clients seen by Bloomberg. The group, including Michael Peat, Soraya Chabarek, Prakash Narayanan, Craig Scordellis and Jason Walker, will share higher equity stakes and develop a firmwide strategy.

Tiger Global’s Chase Coleman Reveals Snowflake Bet, Raises Uber Stake — Here are the Highlights (CNBC)
Hedge fund manager Chase Coleman has a nine-figure bet on one of the hottest IPOs of the year, according to a securities filing released Monday. Coleman’s Tiger Global Management Fund is one of the “Tiger Cub” funds seeded by legendary investor Julian Robertson two decades ago. Since striking out on his own, Coleman has made his name as a tech investor.

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Renaissance, Two Sigma Drop as Quants Navigate Chaos (Bloomberg)
(Bloomberg) — Two of the hedge fund industry’s quantitative powerhouses are getting tripped up this year as wild markets throw off their investing models. Renaissance Technologies, which manages the world’s biggest quant hedge fund, and Two Sigma Advisers have seen losses across several of their funds in 2020, a sign of how unprecedented market volatility caused by the Covid-19 pandemic hurt even the most sophisticated traders.

As Ackman Hunts Blockbuster Deal, He Counts on Big Backers (Reuters)
(Reuters) – Hedge fund veteran William Ackman has the support of some of Wall Street’s top investors as he tries to pull off the biggest-ever deal carried out by a blank-check acquisition company, according to regulatory filings published in the last few days. Among the heavy hitters rounded up by Ackman for his Pershing Square Tontine Holdings Ltd investment vehicle, according to the filings, are mutual fund giant T. Rowe Price Group Inc, investment firm Guggenheim Partners, hedge fund Baupost Group, Canadian pension fund Ontario Teachers and private equity firm Blackstone Group Inc.

Four Nordic Winners at the HFM Awards (Hedge Nordic)
Stockholm (HedgeNordic) – Four Nordic hedge funds were recognized at the 2020 HFM European Emerging Manager Awards that was held virtually on November 17. The funds that took home top honors include Alcur Select, Elementa, Formue Nord Markedsneutral, and KLP Alfa Global Energi. The Formue Nord fund managed by a team led by CIO Rasmus Viggers is collecting an award at the HFM European Emerging Manager Awards for a second consecutive year. The list of nominees, which ultimately featured 17 Nordic hedge funds, was judged based on a combination of absolute returns for the 12-month period to mid-2020 and Sharpe ratios.

Hedge Fund Performance Update: October 2020 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark bounced back from September’s losses in October (+0.34%), pushing the YTD return to +5.39%. By comparison, public equities lost over the month for the MSCI ACWI (-2.43%) and for the S&P 500 (-2.77%). All top-level strategies tracked by Preqin generated gains apart from macro strategies (-0.42%), with credit strategies returning the most (+0.43%). This factsheet presents the hedge fund performance benchmarks for October 2020. Plus, the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.

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