Influential Fund Manager Green Century Tells Insurers to Drop Big Oil (MarketWatch)
Green Century Capital Management tried to use shareholder muscle to persuade at least a trio of insurance companies to drop fossil-fuel clients. So far, the insurance firms aren’t biting; all three have filed no-action requests with the Securities and Exchange Commission. The resolutions, in advance of proxy season this spring, call on Chubb CB, 0.02%, Travelers TRV, -0.49% and The Hartford HIG, 0.21% to take this bold step as private-sector efforts to curb global warming from the burning of coal, oil CL00, -1.83% and gas NG00, -4.01% pick up, alongside global government action.
Sculptor Capital Plunges Most Since May 2020 After Posting Outflows (Bloomberg Quint)
(Bloomberg) — Sculptor Capital Management Inc. tumbled the most in almost two years on Thursday, after reporting that clients pulled $55 million from its flagship hedge fund in the fourth quarter. Shares of the firm fell 17% to $13.25 at 11:07 a.m. in New York, the biggest intraday drop since May 2020, as Chief Executive Officer Jimmy Levin’s turnaround efforts continued unevenly. That extended the stock’s decline this year to 38%.
Activist Investor Daniel Loeb Sees Roughly $1 Trillion of Untapped Value in Amazon (The Wall Street Journal)
Activist investor Daniel Loeb, whose Third Point LLC counts Amazon.com Inc. as one of its biggest holdings, told investors on Wednesday that he sees roughly $1 trillion in untapped value at the e-commerce giant. Mr. Loeb said on a private call with the hedge fund’s investors that the market is failing to recognize the full value of Amazon ’s two disparate businesses, its core e-commerce operation and its Amazon Web Services cloud unit, according to people familiar with the matter. The call reviewed Third Point’s 2021 performance and its outlook on markets and a number of stocks were discussed.
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Biotech Firm Synthego Raises $200 mln in Funding from Softbank, Others (Reuters)
Feb 17 (Reuters) – Biotechnology firm Synthego said on Thursday it had raised $200 million in a late-stage funding round led by hedge fund Perceptive Advisors, with participation from SoftBank Vision Fund 2.
Hedge Fund Manager Caxton to Buck Industry Trend by Raising Fees (Hedge Week)
Macro hedge fund Caxton Associates is said to be bucking an industry trend by raising fees rather than reducing them, according to a report by the Financial Times (FT). The report says that Caston is also planning on shutting its Macro fund, which is personally run by chief executive Andrew Law, to new investment as it sees gains from winning bets on rising inflation and interest rates.
Hasbro Activist Begins Proxy Fight, Urges Wizards Unit Spinoff (The Wall Street Journal)
Alta Fox Capital Management nominates five directors to company’s board, saying stock has been trailing broader market. A little-known activist investor is seeking to add several directors to Hasbro Inc.’s board and is urging the toy maker to make changes including a spinoff of its fast-growing unit housing games such as Dungeons & Dragons. Alta Fox Capital Management LLC, which has a 2.5% stake in Hasbro worth roughly $325 million, has nominated five directors to its board, according to a letter viewed by The Wall Street Journal that will be sent to the company’s shareholders.
Pelham Hedge Fund Suffers Its Worst Monthly Loss in 14 Years (Bloomberg)
Pelham Capital, one of Europe’s best-known stock pickers part owned by Petershill Partners Plc, has lost hundreds of millions of dollars in January, marking its worst monthly performance since its founding just over 14 years ago. The firm’s flagship Pelham Long/Short Fund plunged 18.5% in January, according to an investor letter seen by Bloomberg. That adds to an annual loss of almost 12% last year, the letter showed. The London-based firm managed about $5 billion in late 2020, with the vast majority in the main fund, according to another document.
Climate Impacts on Alternatives: North America (Preqin)
Climate change poses real and unpredictable risks for investors in real assets, but there are ways to mitigate them. There are also myriad opportunities for returns, from investments that attempt to decarbonize economies, to improving the efficiency of real assets in agriculture and the built environment. This research note examines the impacts of climate change on alternative asset classes and strategies in North America. It also includes a detailed assessment of which private capital asset classes are best positioned to benefit from increased spending, as outlined in the Infrastructure Investment and Jobs Act (IIJA).
How much engineers and researchers are getting paid at AQR, Bridgewater, Citadel, D.E. Shaw, Point72, and Two Sigma (Business Insider)
Hedge funds are known for top-notch comp, and applications for H-1B visas reveal what some pay. Managers like Bridgewater, Citadel, Point72, AQR, and more rely on dozens of non-US citizens. Base salaries break six figures at nearly all funds, and that’s not even including bonuses.
Thursday 2/17 Insider Buying Report: UGI, TWOU (Nasdaq.com)
At UGI, a filing with the SEC revealed that on Wednesday, Director Frank S. Hermance purchased 65,000 shares of UGI, for a cost of $38.15 each, for a total investment of $2.48M. UGI is trading off about 0.3% on the day Thursday. And on Tuesday, Director Gregory K. Peters bought $500,106 worth of 2U, buying 49,663 shares at a cost of $10.07 each. 2U is trading up about 2.9% on the day Thursday. So far Peters is in the green, up about 7.7% on their buy based on today’s trading high of $10.85.
Insiders Sell More Than $92M Of 4 Stocks (Benzinga)
NV5 Global: The Trade: NV5 Global, Inc. (NVEE) Chairman and CEO Dickerson Wright disposed a total of 40,000 shares at an average price of $106.29. The insider received around $4.25 million as a result of the transaction. Bunge: The Trade: Bunge Limited (BG) Director Paul Fribourg sold a total of 660,000 shares at an average price of 101.37. The insider received around $66.91 million from selling those shares. ZoomInfo Technologies: The Trade: ZoomInfo Technologies Inc. (ZI) 10% owner Carlyle Holdings I Lp sold a total of 321,989 shares at an average price of $57.90. The insider received $18.64 million as a result of the transaction. Datadog: The Trade: Datadog, Inc. (DDOG) Director Shardul Shah sold a total of 3,909,055 shares at an average price of $167.69. The insider received around $2.76 million from selling those shares. The insider also acquired a total of 3,133,333 shares.
Insider Buying: VOXX International Co. (NASDAQ:VOXX) Director Buys 25,000 Shares of Stock (ETF Daily News)
VOXX International Co. (NASDAQ:VOXX) Director Beat Kahli bought 25,000 shares of VOXX International stock in a transaction dated Friday, February 11th. The stock was purchased at an average cost of $12.73 per share, for a total transaction of $318,250.00.
