Hedge Fund Greylock Capital Files for Bankruptcy (The Wall Street Journal)
The parent of hedge fund Greylock Capital Management LLC filed for bankruptcy after clients withdrew funds on the heels of negative fund returns for the past three years. The New York-based firm, which opened its doors in 1997, according to its website, and focuses on distressed-debt investments in emerging markets, filed for bankruptcy in the U.S. Bankruptcy Court in New York on Sunday.
London Hedge Funds Are Betting a $100 Carbon Price Is Almost Here (Bloomberg)
Andurand Capital Management is among hedge funds betting the price of carbon can only go up. Brussels is enacting plans to eliminate carbon emissions by the middle of the century in a massive shift in how the European Union powers its economy. Forcing up the bloc’s carbon price, one of the key tools of EU climate policy, may be crucial. The higher the price, the more incentive companies have to make the hard decisions needed to tackle global warming.
NY Hedge Fund Sells Out of ASX-listed Calix Limited (AFR.com)
Hedge fund Sculptor Capital Management – formerly known as Och-Ziff Capital Management – has pretty much waved goodbye to ASX-listed technology outfit Calix Limited. Street Talk understands Sculptor was the seller behind a block of 15.5 million shares worth $18.6 million, which crossed the market in three lines during trade on Tuesday. It marks the end of an era for Calix. Its New York hedge fund backer has been one of its biggest investors since 2014, when it converted a note into equity and rocketed up its share register.
Rent-to-Own Real Estate Startup Divvy Homes Raises $110 million in Round Led by Hedge Fund Tiger Global (Business Insider)
Rent-to-own startup Divvy Homes announced that it has raised a $110 million Series C equity round. The round was led by hedge fund giant Tiger Global Management, with participation from GGV Capital, Moore Specialty Credit, JAWS Ventures, and existing investors. When added to significant prior fundraising, (including from Lennar, one of the largest homebuilders in the country), it brings total equity and debt funds raised to more than $500 million.
Redditors Coming for Silver (HedgeNordic)
Stockholm (HedgeNordic) – The price of silver had its biggest one-day advance in more than a decade after retail traders turned their focus to the white metal after successfully pushing up the share prices of games retailer GameStop and other stocks. The spot silver price reached as high as $30.03 an ounce on Monday from $25 last Thursday morning, as users on Reddit’s WallStreetBets forum posted about executing a short squeeze of the short positions that central banks are allegedly carrying through bullion banks.
Former EnTrust/Permal Investment Heads Join Jackson Hole Capital Partners to Launch New Alternatives Platform (Hedge Week)
Jackson Hole Capital Partners, the Tulsa-based asset manager, is launching a new alternatives investment platform to be run by two former investment heads from Permal and EnTrust – Robert Kaplan and Christopher Keenan – who have joined the firm as managing partners. The new platform, Jackson Hole Investment Partners, is focused on proprietary sourced direct and co-investments in equity and debt markets – two areas where the managers see attractive opportunities for a differentiated return stream in high-conviction ideas.