Billionaire Investor David Tepper Says ‘the Stock Market is Still Fine’ After Fed Announcements (CNBC)
Hedge fund legend David Tepper thinks the Federal Reserve did a good job, showing that policymakers are not asleep at the wheel. The Appaloosa chief, known for bold calls and strong returns, told CNBC’s Scott Wapner on Thursday that despite the Fed’s plan to move up its interest rate hike timetable, the stock market remains alright. “I think the stock market is still fine for now,” Tepper told Wapner.
Bitwise Asset Management Completes USD70m Series B, Valuing the Company at Over USD500m (PrivateEquitywire.co.uk)
Bitwise Asset Management, one of the world’s largest cryptocurrency index fund managers, has raised USD70 million in a Series B funding round led by Elad Gil and Electric Capital. New backers include Daniel Loeb’s Third Point LLC, Daniel Och’s Willoughby Capital, Louis Bacon’s Moore Strategic Ventures, Paul Eisenstein’s Vetamer Capital, and Coinbase Ventures, alongside individual investors Henry Kravis, Stanley Druckenmiller, David McCormick (Bridgewater CEO), Daniel Sundheim (D1 CIO), Kevin Warsh (former U.S. Federal Reserve Governor), Nadeem Meghji (Blackstone executive), Tracey Warson (former Head of Citi Private Bank), Fidji Simo (Facebook executive), Helen Riley (Google X CFO), and several others. Existing Bitwise backers including Highland Capital, Khosla Ventures, Blockchain Capital, Castle Island Ventures, Alison Davis, Adam Nash, and Naval Ravikant participated as well.
Billionaire investor Bill Ackman Helped Pressure Pornhub into Taking Down Millions of Unauthorized Videos, Report Says (Business Insider)
Billionaire investor Bill Ackman helped to pressure Pornhub into removing millions of unauthorized videos from its website, Institutional Investor reported this week. The Pershing Square Capital Management boss was browsing Twitter last December when he came across “The Children of Pornhub,” a damning indictment of the porn site by The New York Times columnist Nicholas Kristof. The article detailed how Pornhub allowed unverified users to upload videos without authorization from the people featured in them, enabling revenge porn and other exploitation.
Preqin Markets in Focus: Alternative Assets in Asia-Pacific 2021 (Preqin)
The alternative investment market in Asia is set to experience explosive growth in the coming years, with private capital assets under management (AUM) on course to reach $6tn by 2025. Private capital is playing an increasing role in asset allocations across Asia-Pacific, as demand to access this fast-growing and diverse region remains robust. Asia-Pacific-focused private capital AUM has already expanded almost sixfold over the past decade, reaching $1.71tn as of September 2020, with $133bn raised during 2020 alone. Combined with the $156bn in Asia-Pacific hedge funds as of Q4 2020, the region is fast approaching the $2tn milestone for alternatives.
Month in Review – May 2021 (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic hedge funds edged down in May to end their six-month run of positive returns, as equity and fixed-income hedge funds dragged down the performance. The Nordic Hedge Index inched down by 0.1 percent last month (95 percent reported) to trim its year-to-date advance to 3.9 percent. Three of the five strategy categories within the Nordic Hedge Index enjoyed gains last month, with equity and fixed-income hedge funds ending the month in the red on aggregate. Equity hedge funds, this year’s strongest-performing strategy group in the Nordic Hedge Index, were down 0.5 percent last month to cut their 2021 advance to 6.1 percent.