The $1.1b Fortune of Rupert Murdoch’s Former Son-in-Law is Trapped (The Sydney Morning Herald)
Crispin Odey, on paper, is a billionaire — commanding a vast wealth built over decades that’s unlikely to unravel as fast as his tenure atop Odey Asset Management. There’s a catch, though: Much of his roughly $US710 million ($1.07 billion) fortune remains trapped in funds at the investment firm where he was just sacked after multiple allegations of sexual assault were levelled against him. Odey denies the allegations.
Tiger-Backed Hedge Fund Yulan Shuts Amid China Investing Woes (BNN Bloomberg)
(Bloomberg) — Tiger Management LLC-backed hedge fund manager Yulan Capital Management LLC has shut down, after rising geopolitical risks made it harder to invest in China. The New York-based firm that also had a Shanghai office wound down investment in late December, said people with knowledge of the matter, who asked not to be identified as the information is private. Its registration with the US Securities and Exchange Commission was terminated at the end of January. Return figures for the firm weren’t immediately available.
Starboard Takes 5% Stake in Algonquin Power (Reuters)
Activist hedge fund Starboard Value LP in a filing on Friday reported a 5% stake in Algonquin Power & Utilities Corp (AQN.TO), saying it purchased the company’s shares on the belief they were undervalued and represented an attractive investment opportunity. U.S.-listed shares of Algonquin rose 1.3% to $8.43 in pre-market trade. The Wall Street Journal first reported on the stake purchase on Thursday, citing people familiar with the matter.
Pixabay/Public Domain
German Financier Lars Windhorst Found in Contempt of Court by London Judge (Bloomberg)
German financier Lars Windhorst was found in contempt of court by a London judge after he failed to attend a hearing in his dispute over debt owed to entities linked to a Monaco-based ship tycoon. Judge David Foxton said Friday that Windhorst had known that not showing up broke court rules, citing Windhorst’s “misplaced view” of prioritizing canvassing potential investors to settle the debt rather than following the court’s orders.
The Top 6 Crypto Hedge Funds in 2023 (CoinCodex.com)
Crypto hedge funds are among the most important players in the cryptocurrency and blockchain industry, as they are the main source of funding for crypto and blockchain projects with potential. Crypto hedge funds have grown significantly in recent years, with some firms raising $1 billion and more for their funds. When it comes to the cryptocurrency space, the lines between hedge funds and venture capital firms can sometimes be blurred. Many crypto investment firms use investment strategies that are typical for hedge funds but also invest in early-stage companies.
Corporate Agitators Slow Down in Second Quarter, Ready to Pounce in Second Half, Barclays Data Show (Reuters)
Following the busiest quarter on record, activist investors slowed down in the second three months of 2023 but are expected to mount more high-profile campaigns in the second half amid pent-up demand for acquisitions and a new way of voting. Investors including Elliott Investment Management, Engaged Capital and Legion Partners, launched 53 new campaigns around the world during the second quarter, down 32% from a record 78 campaigns in the first three months of 2023, according to data from investment bank Barclays (BARC.L).
Cryptanium Debuts New Digital Assets Hedge Fund (Hedge Week)
Cryptanium has launched Cryptanium Fund I, a new Cayman Islands regulated digital assets hedge fund with a strategy focused on “capital appreciation through deployment of trend-agnostic digital asset strategies seeking to capture yields and timed opportunities”. The fund will execute on-chain transactions and interact with decentralised finance protocols as well as digital asset derivative and hedging solution providers to achieve market neutrality.
3AC Liquidators Seeking $1.3 Billion from Founders: Report (CoinGeek)
The liquidators of Three Arrows Capital (3AC) are seeking $1.3 billion from Su Zhu and Kyle Davies, the two founders of the collapsed ‘crypto’ hedge fund, a new report reveals. The liquidators from New York-based consulting firm Teneo believe that the $1.3 billion reflects the losses the two founders accrued in the months before the hedge fund collapsed. Citing a source familiar with the matter, Bloomberg reports that the liquidators met on Tuesday to discuss the next steps in the liquidation process.
Wednesday 6/28 Insider Buying Report: DMAC, VERA (Nasdaq.com)
On Friday, DiaMedica Therapeutics’s Chief Business Officer, David J. Wambeke, made a $150,003 buy of DMAC, purchasing 38,364 shares at a cost of $3.91 a piece. Wambeke was up about 14.8% on the purchase at the high point of today’s trading session, with DMAC trading as high as $4.49 in trading on Wednesday. DiaMedica Therapeutics is trading off about 1.2% on the day Wednesday. Before this latest buy, Wambeke made one other buy in the past twelve months, purchasing $750,000 shares at a cost of $1.60 a piece. And at Vera Therapeutics, there was insider buying on Friday, by Chief Financial Officer Sean Grant who bought 5,000 shares for a cost of $16.60 each, for a total investment of $83,000. Before this latest buy, Grant made one other purchase in the past twelve months, buying $99,995 shares at a cost of $7.00 a piece. Vera Therapeutics is trading up about 3% on the day Wednesday. Grant was up about 9.7% on the buy at the high point of today’s trading session, with VERA trading as high as $18.21 at last check today.
$1.8B Bet On This US Electric Vehicle Maker? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Asana: The Trade: Asana, Inc. (ASAN) President, CEO and Chairman Dustin Moskovitz Adam Gray acquired a total of 160,000 shares an average price of $22.53. To acquire these shares, it cost around $3.6 million. Axon Enterprise: The Trade: Axon Enterprise, Inc. (AXON) Director) Hadi Partovi acquired a total of 25,000 shares at an average price of $191.10. To acquire these shares, it cost around $4.78 million.
