Hedge Fund and Insider Trading News: Dan Loeb, Leon Cooperman, Algebris Investments, Fortress Investment Group, Home Bancorp, Inc. (HBCP), and More

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Loeb’s Third Point Hedge Funds Slump as Much as 10% in January (Bloomberg)
Dan Loeb’s Third Point is emerging as one of the biggest hedge fund losers of January as volatile stocks hurt some money managers. The firm’s largest Third Point Offshore fund lost 7.6%, while the Third Point Ultra fund slumped 10%, according to an investor letter seen by Bloomberg. The declines erased a portion of the 23% gain in the Offshore fund and a 27% surge in the Ultra fund last year, another document shows.

Billionaire Investor Leon Cooperman Prefers to Shop for Clothes Wholesale and Seems to Like Costco Lamb Chops, According to Interview (Business Insider)
Billionaire investor Leon Cooperman says he prefers to shop wholesale for clothes, appears to favour Costco lamb chops, and rides a vintage Schwinn bicycle around his neighbourhood, according to an interview he gave to The Washington Post. Cooperman, whose fortune is estimated at $2.5 billion, also said he owned a Hyundai, which he used for running occasional errands.

Algebris Appoints New Chief Investment Officer (Hedge Week)
Algebris Investments has appointed Sebastiano Pirro as Chief Investment Officer at Group level with effect from 1 February 2022. In his new role, Pirro will lead the investment team and focus on the evolution of the firm’s investment process across the range of liquid strategies. Pirro will maintain his responsibilities as portfolio manager of Algebris Financial Credit and Algebris IG Financial Credit, and will continue to report to Davide Serra, Founder and CEO.

Countries with the Smallest Government Per Capita in the World


Indecap to Bin Long/Short Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Indecap Fonder’s long/short equity fund, Guide Avkastningsfond, will merge into one of the asset manager’s funds at the end of February. Guide Avkastningsfond has generated a cumulative loss of 4.3 percent since the fund started employing a long/short equity strategy in mid-December 2018. The fund had previously operated as a fund of funds.

The Role of Venture Capital in ESG Investing (Preqin)
Venture capital investors’ ESG adoption is relatively low, but their potential impact and economic opportunity make a convincing argument. LPs that allocate to venture capital have not been as keen to sign on to major ESG organizations as investors in other asset classes. According to data on investor signatories from Preqin Pro, the number of venture investors (661) that have signed up to the most popular and widely accepted ESG-investing organization, Principles for Responsible Investment (PRI), was ahead of only natural resources (597) and hedge fund investors (587).

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