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Hedge Fund and Insider Trading News: Elliott Management, Leon Cooperman, Balyasny Asset Management, JPMorgan Chase & Co. (JPM), Goldrich Mining Co (GRMC), DISH Network Corp (DISH), and More

Elliott-backed Gigamon to Acquire Cybersecurity Startup (Reuters)
July 24 (Reuters) – Gigamon Inc, the U.S. networking software company that hedge fund Elliott Management Corp took private together with Qatar Investment Authority in December for $1.6 billion, is now making an acquisition of its own. The company has agreed to buy a cybersecurity startup called ICEBRG, Gigamon Chief Executive Paul Hooper told Reuters in an interview. The terms of the deal were not disclosed, though sources familiar with the matter said it values the Seattle-based startup at roughly $100 million.

Billionaire Investor Cooperman: Trump’s Trade War is ‘Very Dangerous’ (CNBC)
Leon Cooperman, chairman and CEO of Omega Advisors, is not a fan of President Donald Trump’s trade policy. The investor was asked about his views on the trade conflict and use of tariffs. “I think it is very dangerous and I think he’s [Trump] on the wrong track and I hope he backs off,” Cooperman said Tuesday on CNBC’s “Halftime Report.” “I think the market is complacent … I think the market is assuming by the way it is acting as he has done often in the past, he backs off.”

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Balyasny Traders Finding New Jobs as FCA Register Indicates Further Exits (News.efinancialcareers.com)
After last year’s frenetic hiring, Balyasny Asset Management has been clipping its wings. Around 10 macro traders were cut from the hedge fund’s macro training program in February and the UK’s FCA Register indicates around five further exits in June and July. Meanwhile, those who left Balyasny previously are finding new roles. The FCA Register suggests that various people have left Balyasny in recent months. They include: Nicolas Grand-Chavin, an associate portfolio manager in quantitative equities trading; Andy Hill, an execution trader; Chris Langman (a portfolio manager previously reported as leaving by Bloomberg), and Daryl Li, a former Morgan Stanley swaps trader.

China Hedge Funds Trigger Investor Unease With June Implosion (Bloomberg)
(Bloomberg) — For the most die-hard bulls among the China-focused hedge fund community, June was a month of reckoning. Funds with the highest net exposures to China’s markets suffered hefty losses after the benchmark stock index posted its biggest monthly decline since January 2016. Among them are Top Ace Asset Management’s China-focused Scienart Advantage Fund, which plunged an estimated 20 percent in June, according to people with knowledge of its returns. Greater China funds run by Yuanhao Capital Management and Modus Asset Management also slumped.

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