Hedge Fund and Insider Trading News: Coatue Management, Brevan Howard Asset Management, Marshall Wace LLP, Coeli Global Select, Accenture PLC (ACN), New Relic Inc (NEWR), and More

As Brevan Howard Keeps Hiring, it’s Adding its Own Talent Scouts (eFinancialCareers.com)
Brevan Howard used to be the sort of unfathomable hedge fund that had a single web page with a login for clients and a complete absence of information for anyone else, including prospective employees. Not any more. These days, BH is an expansive place that wants to tell everyone how great it is to work there, and it’s not just relying on its own embellished website to do that. Last time we looked at Brevan, it was February, and the fund was still busy hiring in London after building out its New York office last year. Five months later, recruitment is ongoing and Brevan is strengthening its network of talent scouts, suggesting it has no intention of pausing its ingestion of people soon.

Coeli Duo Expands Fund Suite (Hedge Nordic)
Stockholm (HedgeNordic) – After successfully running their investment philosophy of picking the “finest companies in the world” under the hood of long-only equity fund Coeli Global Select, Andreas Brock and Henrik Milton have launched two other funds relying on the same philosophy. The Stockholm-based duo has launched another long-only equity fund focused on smaller companies, and a long/short equity fund that borrows its long ideas from the long-only funds.

Coatue Just Led a $60 Million Round into Fonoa, a Tax Automation Startup Founded by Ex-Uber Employees, After Seeing This 25-Slide Pitch Deck (Business Insider)
Fonoa, an Irish tax automation startup founded by three former Uber staffers, has raised $60 million in a round led by hedge fund Coatue. The Dublin-based firm, set up in 2019, helps companies understand and manage their tax obligations in different jurisdictions through an API. Zoom, Booking.com, Remote, and Bolt are among the company’s users. Insider reported in April that Fonoa was in talks to raise the Series B round.

Former SAC Capital Portfolio Manager Tor Minesuk's Top 10 Stock Picks for 2021

Rawpixel.com/Shutterstock.com

Blackstone Posts Loss as Market Turmoil Hits Private-Equity Portfolio (The Wall Street Journal)
Firm’s cash that could be handed back to shareholders nearly doubled from a year earlier. Blackstone Inc. (BX) posted a loss in the second quarter as the value of its private-equity portfolio fell as the broader market tumbled. The New York firm reported a net loss of $29.4 million, or 4 cents a share, compared with a profit of $1.31 billion, or $1.82, during the same period last year.

Marshall Wace Alum’s Asia Hedge Fund Gains Over 15% in 2022 (Bloomberg)
Former Marshall Wace portfolio manager Ramesh Karthigesu’s hedge fund gained more than 15% in the first half, as a market downturn leaves rivals struggling to recoup losses. The Kaizen Asia Pacific Master Fund, which takes long and short positions on equities across the region, returned more than 8% in June alone, said people with knowledge of the matter, who asked not to be identified discussing private information.

HFRI 500 Macro Index Gains +13% in 1H22 as Commodities, Risk Mitigation and CTAs Surge (Opalesque.com)
Opalesque Industry Update – Led by gains in Macro, CTA, Risk Mitigation and Commodity strategies, the HFRI 500 Macro Index gained +13.2 percent in the 1H 2022, topping the decline of the S&P 500 by 3300 bps and the Nasdaq Composite Index by nearly 4400 bps as US equity markets experienced the worst 1H of a calendar year in over 50 years. Negatively correlated Macro gains offset weakness in directional and higher beta strategies, bringing the performance of the HFRI 500 Fund Weighted Composite Index to a decline of -4.1 percent in 1H22, with both Macro and the overall Composite exhibiting the highest outperformance versus equity market declines in a first half of a year since inception (1990).

New Relic to Explore Sale Options Amid Takeover Interest – Sources (Reuters)
July 20 (Reuters) – New Relic Inc (NEWR.N), the U.S. business software company targeted by activist hedge fund Jana Partners, is preparing to explore a potential sale following interest from private equity firms, sources familiar with the matter told Reuters. New Relic is in talks to hire financial advisers to explore options that would include a sale, the sources said, cautioning that no deal is certain. The sources requested anonymity because the matter is confidential.

US Authorities Arrest Former Coinbase Manager, Alleging Insider Crypto Trading (Coin Telegraph)
United States authorities have brought charges against three people for wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading using crypto, one of whom was a former product manager at Coinbase Global. In a Thursday announcement, the U.S. Attorney’s Office for the Southern District of New York said in conjunction with the New York Field Office of the Federal Bureau of Investigation it had filed an indictment against former Coinbase Global product manager Ishan Wahi as well as his brother Nikhil Wahi and associate Sameer Ramani.

Warren Buffett’s Berkshire Hathaway has Piled Nearly $10 Billion into Occidental Petroleum this Year – and Built 75% of Its Stake in Only 11 Days (Business Insider)
Warren Buffett‘s Berkshire Hathaway has plowed nearly $10 billion into Occidental Petroleum stock over the course of just 29 trading days this year, a Markets Insider analysis of SEC filings and Buffett’s comments shows. The famed investor’s conglomerate has amassed 182 million Occidental shares so far, giving it a nearly 20% stake in the oil-and-gas company as of July 18. The price range stretched from under $48 a share to over $59, and the weighted average cost was around $53, or about 17% below Occidental’s closing stock price of $63.55 on Wednesday.

Accenture And 3 Other Stocks Insiders Are Selling (Benzinga)
Accenture: The Trade: Accenture plc (ACN) Chief Executive – Europe Jean-Marc Ollagnier sold a total of 6,250 shares at an average price of $270.93. The insider received around $1.69 million from selling those shares. Eli Lilly and Company: The Trade: Eli Lilly and Company (LLY) 10% owner Lilly Endowment Inc sold a total of 17,310 shares at an average price of $332.76. The insider received around $5.76 million from selling those shares.

Insider Buying: Tricida, Inc. (NASDAQ:TCDA) Major Shareholder Purchases 25,000 Shares of Stock (The AM Reporter)
Tricida, Inc. (NASDAQ:TCDA) major shareholder Venrock Healthcare Capital Par purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were acquired at an average cost of $9.54 per share, with a total value of $238,500.00. Following the purchase, the insider now directly owns 7,464,852 shares of the company’s stock, valued at approximately $71,214,688.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.