Falcon Hedge Fund Platform Offers First Loss Capital to Startup Fund Managers (Hedge Week)
Falcon Investment Management a multi-manager hedge fund platform, has launched its first loss program to support early-stage hedge fund managers with seed and acceleration capital. The program is designed to align interest between investors and managers. Through first loss structure, managers receive higher incentive fees in exchange for sharing potential losses with investors resulting a better alignment of interests. Participating fund managers in the program benefit in three ways.
Hedge Fund Manager Keith Meister Explains Why MGM is Undervalued, Moves Stock Higher (CNBC)
A high profile hedge fund manager told CNBC on Wednesday that the booming sports gaming industry could help the market overlook the pandemic’s hit to one of the world’s most famous casino brands. Keith Meister, managing partner and CIO of Corvex Capital and a board member of MGM Resorts, explained on CNBC’s “Halftime Report” why he is bullish on the company. MGM will report its latest quarterly results after the bell on Wednesday.
Citadel’s Ken Griffin Expected to Testify at House GameStop Hearing (Bloomberg)
Ken Griffin, Citadel LLC’s billionaire founder, is expected to testify next week at a House hearing on wild market swings in shares of GameStop Corp. and other stocks, according to three people familiar with the matter. It’s also anticipated that Robinhood Financial Chief Executive Officer Vladimir Tenev will appear to answer questions about the role that the firm’s popular online trading app played in the tumult, said the people, asking not to be named before a formal announcement. House Financial Services Committee Chair Maxine Waters, a California Democrat, has said she wants the panel to hear from hedge fund Melvin Capital Management, as well.
Formfactor Inc (FORM) CEO Mike Slessor Sold $2.3 million of Shares (Guru Focus)
CEO of Formfactor Inc, Mike Slessor, sold 50,000 shares of FORM on 02/10/2021 at an average price of $46.18 a share. The total sale was $2.3 million. FormFactor Inc is a technology solutions provider. Its core business involves manufacture of advanced semiconductor probe card products. FormFactor Inc has a market cap of $3.7 billion; its shares were traded at around $47.840000 with a P/E ratio of 48.31 and P/S ratio of 5.44.
How COVID-19 Has Shaped the Future of Distressed Debt Investing (Preqin)
The events of 2020 drew a record number of distressed debt funds to the market, while other funds have pivoted toward opportunistic or special situations strategies. How will the sizable pipeline of distressed funds impact the market in 2021? We are currently witnessing imbalance between the supply of distressed debt opportunities in more liquid leveraged loans and high-yield bonds and demand for each of those assets. Distressed debt funds raised a lot of capital in 2020 and mostly chased the same liquid opportunities, but the yields on these opportunities fell after markets rallied from April. Though opportunities will continue to arise while the pandemic prevents economies from returning to ‘normal,’ we expect this imbalance to continue through early 2021.
A Director at NextGen Healthcare (NASDAQ: NXGN) is Selling Shares (Analyst Ratings)
On February 9, a Director at NextGen Healthcare (NXGN), Lance Rosenzweig, sold shares of NXGN for $496K. Following Lance Rosenzweig’s last NXGN Sell transaction on August 12, 2020, the stock climbed by 6.6%. In addition to Lance Rosenzweig, one other NXGN executive reported Sell trades in the last month.
