Hedge Fund and Insider Trading News: Crispin Odey, Akre Capital, Citadel LLC, Elliot Management, Coliseum Capital Management, Blackstone Inc (BX), Akouos, Inc. (AKUS), and More

Hedge Fund Boss Crispin Odey Faces New Misconduct Allegation (The Times)
Allegations of sexual misconduct by the financier Crispin Odey will be treated “extremely seriously”, the management of his hedge fund said yesterday after a new claim emerged. Odey, 63, was cleared of indecent assault after a trial in March last year and a judge told him he could leave court with his “good character intact”.

Report: After Links to Leeds’ Radrizzani, European Club Receive Takeover Bid From Hedge Fund (HITC)
According to El Confidencial, Valencia are set to be the subject of a bid from the Apollo and Elliot hedge fund. Valencia were one of the hardest-hit clubs financially by the coronavirus pandemic as they were forced to sell star players such as Ferran Torres, Rodrigo, Geoffrey Kondogbia and more recently Goncalo Guedes. The Spanish club have been on the market for quite some time now, and at one point it looked as though Leeds United owner, Andrea Radrizzani was a prospective buyer.

‘3-Legged Stool’ Hedge Fund Upped Its Stake In 2 Dividend Stocks – The Next Compounding Machine? (Benzinga)
Akre Capital uses an investment strategy called the “three-legged stool” approach, describing what the Middleburg, Virginia-based company looks for in an investment: Extraordinary business. Talented management.Great reinvestment opportunities and histories. When Akre, founded by CEO Charles T. “Chuck” Akre, finds a business that satisfies all three of its requirements, it is referred to as a “compounding machine.”

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Citadel Celebrates Banner Year at Disney as Wall Street Nurses Losses (Reuters)
For much of Wall Street, trading this year has been like riding a wild roller coaster. For thousands of employees of Citadel and Citadel Securities, the hedge fund and trading business founded by Ken Griffin, last weekend was spent riding the real things. Griffin paid out of his own deep pockets for about 10,000 staff and their families to converge on Walt Disney World (DIS.N) in Florida for three days of celebrations in the Magic Kingdom and other theme parks, Citadel spokesman Zia Ahmed said.

AlbaCore Capital Raises $2.3bn for Its Third Private Lending Fund (Opalesque.com)
European credit specialist AlbaCore Capital Group has held a final close on its third flagship fund, AlbaCore Partners III Fund, on EUR 2.2bn ($2.3bn), surpassing its EUR 2bn target. The London-based alternative investment manager said in a media release that the re-up rate between AlbaCore Partners II and III was 96%. Including available leverage, AUM for Fund III totals approximately €2.4 billion. The new flagship fund – which also holds €200 million of leverage – invests in private deals such as leveraged buyouts as well as providing financing for companies when conventional debt market options are closed.

King Street Appoints Former Blackstone AM MD as Global Head of Strategy (Hedge Week)
Hedge fund King Street Capital Management (King Street) has appointed Kris Mastronardi as a Managing Director and Global Head of Strategy, based in New York. Mastronardi will report to Brian Higgins, King Street’s Co-Founder, Managing Partner and Co-Portfolio Manager. In the newly created role, Mastronardi will work closely with the firm’s management committee to lead strategic growth opportunities, including partnerships and client solutions. He will also engage closely with the Firm’s Global Investment Committee on the Firm’s investment strategy and positioning.

Tuesday 12/6 Insider Buying Report: BX, SLRC (Nasdaq.com)
On Friday, Blackstone’s Director, Ruth Porat, made a $1.67M buy of BX, purchasing 20,000 shares at a cost of $83.55 a piece. Bargain hunters have the opportunity to grab BX at a price even lower than Porat did, with the stock trading as low as $79.31 at last check today which is 5.1% under Porat’s purchase price. Blackstone Inc is trading off about 2.8% on the day Tuesday. Before this latest buy, Porat bought BX on 2 other occasions during the past twelve months, for a total investment of $1.18M at an average of $117.95 per share. And at SLR Investment, there was insider buying on Friday, by Michael S. Gross who bought 73,732 shares at a cost of $14.98 each, for a total investment of $1.10M. SLR Investment is trading down about 1% on the day Tuesday.

FTX Pain Spreads as Hedge Fund Defaults on $36 Million Debt (1) (Bloomberg Law)
Contagion from the messy implosion of Sam Bankman-Fried’s crypto empire is spilling into the world of decentralized finance, after a hedge fund was declared in default on almost $36 million of loans. Orthogonal Trading said in a tweet on Tuesday that it had been “severely impacted by the collapse of FTX and associated trading activities,” making it unable to repay on a $10 million crypto loan. That prompted the entity that runs the lending pool on DeFi protocol Maple to issue a notice of default for all the fund’s active borrowings.

ModivCare (NASDAQ: MODV) Stock Trending Higher on Powerful Insider Buy (TipRanks.com)
One of ModivCare’s directors, Coliseum Capital Management, LLC, purchased shares worth $6.9 million. Generally, tracking insiders’ transactions may provide useful insights to retail investors. Coliseum Capital Management, LLC, a director at ModivCare (NASDAQ:MODV), purchased 90,743 shares of the company in multiple transactions on December 1 and December 2, for a total value of $6.9 million. MODV stock surged about 6% on Monday and a further 1.2% in the extended trading session.

Around $375 Million Bet On This Biotechnology Stock? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Akouos: The Trade: Akouos, Inc. (AKUS) 10% owner Eli Lilly & Co bought a total 29,992,668 shares at an average price of $12.50. The insider spent around $374.91 million to buy those shares. GoHealth: The Trade: GoHealth, Inc. (GOCO) 10% owner CB Blizzard Holdings C, L.P. bought a total of 268,229 shares at an average price of $13.02. To acquire these shares, it cost around $3.49 million.