Elliott Boosts Stake in Triple Flag to 67% (Reuters)
Elliott Investment Management on Thursday raised its stake in gold-focused streaming and royalty firm Triple Flag Precious Metals Corp to 67% from 64.7%. The hedge fund acquired 4.7 million shares in Triple Flag at C$16.50 per share. Triple Flag provides upfront financing to miners in exchange for a share of future revenue or production. It has vested interests in royalty, concerning Alamos Gold Inc’s Young-Davidson mine located in Ontario, and Kirkland Lake Gold Ltd’s Fosterville underground mine in Australia.
Lesser-Known Hedge Fund Boss Joins Ranks of Best Paid With 193% Gain (Bloomberg)
Said Haidar’s conviction that inflation was about to explode across the globe can be summarized by a single number: $63 billion. That’s how much his Haidar Capital Management reported in assets to start 2022. The catch? The hedge fund actually oversaw just $1.2 billion.
Billionaire Hedge-Fund Manager Larry Robbins Just Listed His Manhattan Penthouse for $55 Million (Robb Report)
A four-floor apartment crowning the Charles building on NYC’s First Avenue has hit the market for the first time with a $55 million price tag, The Wall Street Journal reported. The Upper East Side pad is owned by billionaire Larry Robbins, founder and CEO of Glenview Capital Management, a New York–based hedge fund. Robbins bought the glassy white box back in 2015 for $38 million, however, it’s undergone an extensive five-year transformation since then.
Image: Depositphotos
Accendo Celebrates 15 Years of Active Ownership (Hedge Nordic)
Hedge funds are not generally known for their longevity. For the funds that do have a lifespan exceeding ten or 15 years, this operational longevity is a sign of something going right. This March, activist investor Accendo Capital is joining the select group – now 33 – of long-running Nordic hedge funds with a lifespan that exceeds 15 years. “The strategy is exactly the same as when we launched, so we must have been doing something right,” says Henri Österlund, the founder of Accendo Capital. “We are independently owned and managed, working for the best interests of our fund shareholders within a single, defined strategy,” he emphasizes.
The Big Picture: Energy Transition-Focused Hedge Fund Sees Macro Risks in the Near Term (Opalesque.com)
Energy transition – a wide term that conveys the adoption of solar panels, wind turbines, and the gradual closing of oil wells and coal pits – is a journey that is not without its bumps and blocks and bottlenecks. Generating power from renewables is only part of the energy transition journey. The mass introduction of electric transportation infrastructure and energy storage, coupled with greater usage of technologies to improve energy efficiency, are also driving this movement. The energy transition will require trillions of dollars in spending, creating a major opportunity for investors, even with the existing roadblocks.
