Australia’s Only Esports Hedge Fund Now has $500m Under Management (AFR.com)
Esports hedge fund PAC Capital has acquired Clearwater Portfolio Management in a deal that balloons the gaming and tech investor’s funds under management to $500 million, and represents the start of traditional Australian financial planners targeting a global sector that is now worth $US180 billion. After a hotly contested auction, Byron Bay-based Clearwater will transfer its $250 million of assets to PAC. Founder and chief executive Clayton Larcombe says he will direct the fresh financial planning fund flows towards the fast-growing and highly profitable esports and gaming sectors.
Davidson Kempner Partner Risto Koivula Is Leaving US Hedge Fund (Bloomberg)
Risto Koivula, one of Europe’s most senior merger arbitrage investors, is leaving US hedge fund Davidson Kempner Capital Management, people familiar with the matter said. Koivula, a partner at Davidson Kempner, is preparing to depart by year-end and plans to initially take some time off to pursue personal interests, the people said. He’s considering possibilities including setting up his own fund, according to the people, who asked not to be identified as the matter is private.
Fortress Investment Group Ranked as 2nd Fastest-Growing Alt Investment Brand (Hedge Week)
Fortress Investment Group (Fortress) has been ranked as the second fastest-growing brand among 50 alternative investment managers included in the second edition of the Alts 50 report, published by Peregrine Communications. The report provides a qualitative and quantitative assessment of the integrated marketing and communications activities of the world’s 50 largest alternative investment managers (measured by assets under management).
Rawpixel / shutterstock.com
Hedge Fund ExodusPoint Recruits Goldman Alpha Signal Quant (eFinancialCareers.com)
Hedge fund ExodusPoint has been hiring some machine learning talent in London. And it’s sourced the talent from Goldman Sachs. ExodusPoint has recruited Bin Zou, a former executive director of FX and Rates systematic trading strategies at Goldman. Zou has just joined the fund as a macro quantitative researcher with a focus on alpha signal research in FX and Rates. Zou, who did his bachelors degree in China, joined Goldman at associate level after obtaining a Ph.D in machine learning and natural language processing from UCL. His degree was fully funded by UCL Graduate Research Scholarships and Overseas Research Scholarships, indicating a recognition for his quality of work even at undergraduate and postgraduate level.
Hedge Fund Becomes First to Bet Against Sir Martin Sorrell Comeback (Telegraph.co.uk)
Hedge fund GLG Partners has become the first to reveal a bet against Sir Martin Sorrell’s S4 Capital, underscoring the challenges faced by the advertising mogul and his comeback venture. GLG, an arm of FTSE 100 Man Group, has disclosed a £5m short position against S4 amid a global downturn at the tail end of a turbulent year for the company. The bet is based on borrowing a 0.5pc stake in the London-listed business. It stands to gain if S4 shares, down 38pc since the turn of the year, fall further still.
Friday 10/28 Insider Buying Report: SBSI, ALLY (Nasdaq.com)
On Thursday, Southside Bancshares’ CEO, Lee R. Gibson, made a $66,440 buy of SBSI, purchasing 2,000 shares at a cost of $33.22 each. So far Gibson is in the green, up about 2.9% on their buy based on today’s trading high of $34.19. Southside Bancshares is trading up about 3.3% on the day Friday. And at Ally Financial, there was insider buying on Tuesday, by Marjorie Magner who bought 2,000 shares at a cost of $27.43 each, for a trade totaling $54,868. This purchase marks the first one filed by Magner in the past year. Ally Financial is trading up about 3.1% on the day Friday.
Insider Trading: October 31, 2022 (BIV.com)
Insider Amir Adnani, Director. Company: Gold Royalty Corp. (NYSE:GROY). Shares owned: 1,060,747. Trade date: Oct. 13. Trade total: $106,133. Trade: Acquisition of 50,063 shares at prices from $2.11 to $2.12 per share. Insider Volker Berl, director. Company: Standard Lithium Ltd. (TSX-V:SLI). Shares owned: 1,266,000. Trade date: Oct. 17. Trade total: $180,000. Trade: Acquisition of 50,000 shares at a price of $3.60 per share.
3M EVP & Chief Legal Officer Trades Company’s Stock (Benzinga)
Kevin H Rhodes, EVP & Chief Legal Officer at 3M (MMM), reported a large insider sell on October 31, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Rhodes sold 5,703 shares of 3M. The total transaction amounted to $720,841. 3M shares are trading down 0.26% at $126.27 at the time of this writing on Monday morning.
Lendary Capital Rolls Out Crypto Alternative Debt Fund (Opalesque)
Hong Kong and Germany-based investment management group Lendary Asia Capital expanded its alternative investment strategies with the launch of its crypto alternative debt fund. According to a press note from the asset management and software development firm, built on the success of the Lendary.net automated margin lending platform, Lendary Asia Capital’s latest multi-strategy alternative credit fund is focusing on yield opportunities across the digital asset space without investing in any cryptocurrency, keeping the risk and volatility level as low as possible.
Verisk to Sell Wood Mackenzie Unit to PE Firm for $3.1 bln (Reuters)
Verisk Analytics Inc (VRSK.O) said on Monday it had agreed to sell its energy research and consulting unit Wood Mackenzie to private equity firm Veritas Capital for $3.1 billion, as the data analytics firm looks to streamline its business to focus on insurance. In March, Verisk had agreed to separate its energy business following a challenge by prominent U.S. hedge fund D.E. Shaw.
Follow Insider Monkey on Twitter
