Cloud Analytics Startup Sigma Computing Raises $300 mln in Funding Round (Reuters)
Dec 16 (Reuters) – Sigma Computing said on Thursday it had raised $300 million in a funding round led by D1 Capital Partners and hedge fund XN, the latest startup to tap growing investor interest in the cloud analytics sector.
Hedge Fund Sues Post-Dispatch Owner for Rejecting its Takeover Bid (Stlpublicradio.org)
Hedge fund Alden Global Capital sued Lee Enterprises on Wednesday, accusing the newspaper chain of breaching its bylaws and improperly rejecting its takeover bid. Lee, which owns the St. Louis Post-Dispatch and nearly two dozen other Midwest newspapers, last week rebuffed a $141 million bid from Alden, which has a reputation for saddling newspapers with debt and aggressively cutting costs.
Hedge Fund Confidence Edges Down (Hedge Nordic)
Stockholm (HedgeNordic) – Confidence across the hedge fund industry has edged down in the fourth quarter amid challenging market conditions and concerns about inflation. Based on a sample of more than 300 hedge funds accounting for around $1.7 trillion in assets, the average measure of confidence as reflected by the AIMA Hedge Fund Confidence Index (HFCI) stands at +15.81 for the fourth quarter, nearly five points lower than the score reported in the third quarter.
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Most Hedge Funds Set for Permanent Hybrid Working, Industry Study Finds (Hedge Week)
Most hedge funds are now moving to a permanent hybrid working environment as a result of the Covid-19 pandemic, but concerns over team-building, collaboration and decision-making remain, as more managers look to expand their product offering into new areas and strategies, a wide-ranging new study published by the Alternative Investment Management Association and KPMG has found. AIMA, the global industry trade association for hedge funds, and KPMG quizzed 162 hedge fund managers collectively representing USD1 trillion in assets under management – roughly quarter of the total global industry assets – on how their businesses are pivoting to the new working environment that has resulted from the coronavirus pandemic.
Hedge Funds Set to End 2021 with Inflows (The Express Tribune)
NEW YORK: Global hedge funds are poised to achieve positive inflows in 2021, for the first time in three years, data from Preqin shows, thanks to strong returns and an investor shift to alternative assets during a period of volatility and rising inflation. Alternative assets data and analytics firm Preqin’s data shows hedge funds have attracted flows totalling $40.9 billion in the first three quarters of the year, after outflows of $97.2 billion and $44.5 billion in 2019 and 2020 respectively.
Schroders Unveils Sustainable Food and Water Fund (Opalesque)
British multinational asset management company Schroders has announced the launch of two new funds with the twin aims of capitalizing on companies that are decarbonizing faster than their peers and driving the transition towards more sustainable food and water. The asset manager looks to capitalize on a transition towards more sustainable practices through a new strategy. According to a press release from the global investment manager, Schroder ISF Global Sustainable Food and Water will be managed by Mark Lacey, Felix Odey, and Alex Monk. It forms part of Schroders Global Transformation Range, a suite of funds giving investors long-term exposure to the most powerful and persistent themes shaping the world’s future.
‘Black Swan’ Hedge Fund Sees Lower Returns from Risk Capital (Reuters)
Dec 16 (Reuters) – “Black Swan” hedge fund Universa Investments expects lower returns from risk capital including equity markets over the next few years due to frothy valuations.
Gladiator to Merge Into Adrigo (Hedge Nordic)
Stockholm (HedgeNordic) – After a year of hefty losses, Max Mitteregger’s long/short equity fund Gladiator Fond will be merged with Adrigo Small & Midcap L/S under Adrigo’s management. Following nearly 17 years at the helm of Gladiator Fond, Mitteregger will continue to serve as Senior Advisor to East Capital Group’s Adrigo platform. Both Adrigo Small & Midcap L/S and Gladiator Fond operate as actively managed equity hedge funds investing in Nordic companies, sharing many similarities in terms of management strategy, focus and risk mandate.
A Major Shareholder at Six Flags (NYSE: SIX) is Buying Shares (Analyst Ratings)
Yesterday, a Major Shareholder at Six Flags (SIX), Rehan Jaffer, bought shares of SIX for $8.45M. In addition to Rehan Jaffer, 8 other SIX executives reported Buy trades in the last month. Following this transaction Rehan Jaffer’s holding in the company was increased by 2.59% to a total of $344 million. Based on Six Flags’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $638 million and quarterly net profit of $157 million.
Wednesday 12/15 Insider Buying Report: IMMR, MEG (Nasdaq.com)
On Tuesday, Immersion’s, Eric Singer, made a $744,346 purchase of IMMR, buying 143,000 shares at a cost of $5.21 each. Singer was up about 5.3% on the buy at the high point of today’s trading session, with IMMR trading as high as $5.48 in trading on Wednesday. Immersion is trading up about 4.4% on the day Wednesday. And on Monday, Director Janet Risi Field bought $499,855 worth of Montrose Environmental Group, buying 7,275 shares at a cost of $68.71 a piece. This buy marks the first one filed by Field in the past year. Montrose Environmental Group is trading down about 2.4% on the day Wednesday.
A Director at Keysight Technologies (NYSE: KEYS) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Keysight Technologies (KEYS), James Cullen, sold shares of KEYS for $1.38M. Following James Cullen’s last KEYS Sell transaction on June 04, 2019, the stock climbed by 125.8%. In addition to James Cullen, 3 other KEYS executives reported Sell trades in the last month. Based on Keysight Technologies’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $1.29 billion and quarterly net profit of $282 million.
