Hedge Fund and Insider Trading News: Crispin Odey, Davidson Kempner, FACT Capital, Broadcom Inc (AVGO), S&P Global Inc (SPGI), and More

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Davidson Kempner Ups Stake in Qiagen to 7.3% (Reuters)
FRANKFURT (Reuters) – Hedge fund Davidson Kempner, which is rejecting a sweetened offer from Thermo Fisher (TMO.N) for Qiagen (QIA.DE), said it had increased its stake in the takeover target to 7.3%.

Crispin Odey Charged With Indecent Assault, U.K. Prosecutors Say (Bloomberg)
Crispin Odey, one of Europe’s highest-profile hedge fund managers, has been charged with indecent assault, U.K. prosecutors said. Odey was charged with one count under the Sexual Offences Act, and is set to appear at Westminster Magistrates Court in September, the Crown Prosecution Service said Friday. The charge relates to an alleged incident in the summer of 1999, the CPS said.

Biggest Hedge Fund In The World, Bridgewater Associates In Trouble – Losses & Lawsuit (CloutNews.com)
We’ve made more money for our clients than any other hedge fund in existence,” declared Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge-fund manager, in 2017. In early 2020 Bridgewater was head and shoulders above the rest, having made $58.5bn, net of fees, for its clients since the firm’s inception in 1975. Mr Dalio is worth $17bn, making him one of the richest people in the world. He stepped back from running the firm in 2017, but it has been shaped by his deep economic analysis, and his unorthodox management style, which he calls “radical transparency”.

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Tribune Publishing Seems to be Defending Against a Takeover. The Question is, Against Who? (Poynter.org)
From the outside looking in, it has appeared that Tribune Publishing had been accepting the growing influence of its largest shareholder, hedge fund Alden Global Capital. But a Securities and Exchange Commission filing and press release this week indicated it has now adopted a traditional defense to an unwelcome takeover attempt. Hold on, though. It is less than clear whether the move defends Alden’s 32% stake against a bid by someone else, or whether the “poison pill” making a takeover much more expensive could also be triggered if Alden or 25% holder Dr. Patrick Soon-Shiong increased their stake by another 10% (or tried to sell).

FACT Capital Navigates a Wild First Year by Focusing on Specialization (Opalesque.com)
FACT Capital, a new long/short hedge fund with an all woman investment team is trying to change the industry. FACT stands for fairness, alignment, compounding, and transparency – values that govern the fund’s approach to investing. According to founder Joyce Meng, FACT is designed to be an investor friendly hedge fund, offering an easy to understand strategy at a low cost. “Our ethos is to have deeply-researched, fully-transparent portfolios at low fees and to treat our LPs the way we would want to be treated ourselves,” Meng tells Opalesque New Managers.

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