Daniel Loeb-Backed SentinelOne Hikes IPO Price Range, to Raise Over $1 bln (Reuters)
June 28 (Reuters) – Cybersecurity firm SentinelOne Inc, backed by billionaire investor Daniel Loeb‘s hedge fund Third Point, has boosted the price range for its IPO and is now looking to raise about $1.02 billion, a regulatory filing showed on Monday. Backed by venture capital firms including Tiger Global, Sequoia Capital and Insight Venture Partners, SentinelOne now plans to sell 32 million shares of its Class A common stock priced between $31 and $32 per share.
Brevan Howard Ups the Ante in Hedge Fund Recovery (Bloomberg)
After several dismal years, hedge funds are back in favor with investors. Improved performance is luring cash back into the industry. So much so that one of the most storied firms in the industry is making a smart decision to limit the size of its assets to preserve its ability to generate alpha. Brevan Howard Asset Management LLP has closed its two biggest funds to new money, my Bloomberg News colleague Nishant Kumar reported last week. One, the Brevan Howard Master Fund, more than doubled since the start of 2020 to top $7 billion. With a total of $16 billion of assets, the firm remains one of the biggest players in the global macro space.
Hershey’s Company Jet Flew to Warren Buffett’s Hometown, Sparking Speculation that the Investor could Buy the Candy Company (Business Insider)
Hershey’s corporate jet recently flew to Warren Buffett‘s hometown of Omaha, Nebraska. The candymaker’s bosses may have visited the Berkshire Hathaway CEO to discuss a potential sale, an analyst who correctly predicted a past Buffett deal speculated in a note to clients last week. The Hershey plane made its first trip to Omaha in at least a year on June 12, Don Bilson, the boss of Gordon Haskett’s event-driven research team, revealed in the note. The plane “stayed in Omaha for a couple of days which is certainly enough time for anyone who made that trip to pay the Big Guy a visit,” Bilson wrote, citing jet-tracking data.
Two and Twenty is Long Dead. Hedge Fund Fees Fall Further Below Onetime Industry Standard (CNBC)
A previously unknown hedge fund known as White Square gripped the headlines last week after the Financial Times reported it to be the first-known casualty among those who shorted GameStop. But betting against GameStop wasn’t the death knell for White Square. In fact, its performance had recently rebounded.
The Atlas Global Macro App (Hedge Nordic)
Stockholm (HedgeNordic) – Having launched with about €200 million a month ago, themes-based macro-focused hedge fund Atlas Global Macro has now launched its own app in collaboration with Supertrends. The Luxembourg-domiciled hedge fund co-founded by Danish entrepreneur, author and investor Lars Tvede relies on insights collected by the Supertrends group of companies – also co-founded by Tvede – to form top-down views on economic and political trends and themes. The app provides investor access to analyses, news and reports on the fund.