Gundlach Tangles With Ex-Partners Over Value of DoubleLine Stakes (Bloomberg)
Jeffrey Gundlach once accused his former employer, TCW Group Inc., of diluting his stake in the company. Now the billionaire founder of DoubleLine Capital is battling accusations that he did something similar to executives who helped him build his $96 billion bond giant. Several former limited partners and related trusts allege in legal filings that the firm and its founder used a lowball estimate to value their shares when they departed and redistributed some of the equity to himself, according to court papers.
Blackstone to Invest $150 Million in London-Based Hedge Fund Astaris (Reuters)
Blackstone Group LP is to invest $150 million in London-based Astaris Capital Management which will be split between the firm’s existing hedge fund and a new pool of capital with a drawdown structure, two sources said. Astaris specializes in event-driven credit and equity investments in Europe and was founded in 2020 by Martin Beck, who previously worked at private investment firm Centerbridge Partners and at JPMorgan.
Over $12M Bet On This Healthcare Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying (Benzinga)
Evelo Biosciences: The Trade: Evelo Biosciences, Inc. (EVLO) 10% owner Noubar Afeyan acquired a total of 5,411,255 shares an average price of $2.31. To acquire these shares, it cost around $12.5 million. Dalrada Financial: The Trade: Dalrada Financial Corporation (DFCO) CEO Brian Bonar acquired a total of 79,550 shares at an average price of $0.14. The insider spent around $11,510.
Insider Trading Trends Show Negative Signals for NVDA, CRM, and PANW (Business Insider)
Shares of the technology companies roared back swiftly in the first half of 2023, providing stakeholders with an opportunity to capitalize on the gains. Taking advantage of this price growth, corporate insiders sold shares of (NASDAQ:NVDA), Salesforce’s (NYSE:CRM), and Palo Alto Networks (NASDAQ:PANW), according to our Insiders Trading Activity tool. Given the selloff, the insider trading trends remain negative for these stocks.
Ex-Citadel Duo Raise $1.85 Billion for Hedge Fund (Bloomberg)
Former Citadel traders Jonas Diedrich and Dave Sutton have exceeded the capital raise target for their hedge fund, making it the biggest startup of the year. London-based Ilex Capital Partners started trading with client assets of $1.85 billion on July 1, according to a person familiar with the matter. The firm is in the process of adding a couple of hundred million more in capital this month and will stop accepting money on Aug. 1, the person said, asking not to be identified because the details are private.
