Indaba Capital Nominates Two for Benefitfocus Board, Company Seats One (Reuters)
BOSTON (Reuters) – Hedge fund Indaba Capital said on Tuesday it had nominated two directors to Benefitfocus Inc’s board, and the software company responded a few hours later, saying it had named a veteran human resources executive as a new independent director. The two sides have been trading barbs for weeks over the company’s future, high turnover in its executive suite and who should be sitting on its board.
Bridgewater Co-CIO Sees Inflation Spiral Forcing Fed Into Action (Bloomberg)
The world is on the verge of a new inflationary wave that could force the Federal Reserve to raise rates earlier than planned, according to the co-chief investment officer of the world’s largest hedge fund. The Biden administration’s “extreme” approach to fiscal stimulus looks set to turbocharge consumer prices while threatening the post-crisis bond and stock rally, Greg Jensen at Bridgewater Associates said in an interview.
The CEO of a $1.7 Billion Cannabis-Tech Startup Shares How He Convinced Tiger Global and DFJ to Bet on the Spread of Marijuana Legalization (Business Insider)
Cannabis tech has become one of the hottest areas of the nascent industry, because it gives major venture capital firms an opportunity to bet on the spread of legalization in the US and around the globe. The latest example of the sector’s appeal comes from Dutchie, a cannabis e-commerce startup. On Tuesday, Dutchie closed a $200 million Series C funding round led by Tiger Global. The round includes top Silicon Valley funds like DFJ Growth and Dragoneer, as well as Josh Kushner’s Thrive Capital, rapper Snoop Dogg’s Casa Verde Capital, and former Starbucks CEO Howard Schultz.
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Infusive Wins UCITS Hedge Awards 2021 for the second year running, Showing Exceptional Growth During the Pandemic (PRNewswire)
LONDON, March 16, 2021 /PRNewswire/ — Infusive Asset Management – investing in brands that people know, love and repeatedly buy into – manages the Consumer AlphaTM Global Leaders Fund (the “UCITS Fund”) which was named Best Performing Fund in 2020 for the Equity Long/Short Consumer category at the UCITS Hedge Awards 2021, marking the UCITS Fund’s second consecutive win in this category.
The Rising Role of Diversity in Asia’s Private Capital Market (Preqin)
In recent years, motivation to improve gender equality and inclusive practices across the financial services industry has increased around the world. Business professionals at all levels are cognizant of the value-enhancing benefits and competitive advantages afforded by more diverse teams. Indeed, in a global multi-year survey by PwC, 85% of financial services leaders felt that having a well-defined diversity and inclusion (D&I) strategy enhanced business performance, while 80% said it was important for strengthening firm branding and reputation. Furthermore, a staggering 90% of financial services companies in North America have pledged to improve gender diversity, according to a study by McKinsey.
Lombard Odier’s 1798 Unit Hires Ex-Sandell Manager Raj Davé for New Event Driven Hedge Fund (Hedge Week)
Lombard Odier Investment Managers has hired ex-Sandell Asset Management event driven specialist Raj Davé to run a new fund within its hedge fund and alternative investment unit, 1798 Alternatives, focusing on special situations and event driven opportunities. In his new role Davé, who reports to Christophe Khaw, CIO of LIOM’s 1798 Alternatives, will trade opportunities across the capital structure, and aim to generate returns with low correlation to traditional equity and fixed income markets.
Hedge Fund Billionaire Secures High Speed Internet For Miami-Dade Homes (Florida News)
A $30 million initiative spearheaded by Florida born and raised hedge fund billionaire Ken Griffin will allow 100,000 less fortunate Miami-Dade homes to get online for free. The Miami Foundation and Achieve Miami teamed up with Mayors Francis Suarez of Miami and County Mayor Daniella Levine Cava along with Miami-Dade Schools Superintendent Alberto Carvalho and internet provider Comcast to get less fortunate households online.
Hedge Funds Kicked Off 2021 With $49 Billion Sale Of Treasuries (FA-Mag.com)
Hedge funds offloaded the most Treasuries in nine months in January, foreshadowing a selloff in U.S. bonds that occurred just weeks later. The Cayman Islands, seen as a proxy for hedge funds and other leveraged accounts, dumped $49 billion of U.S. sovereign bonds, making it the largest net seller of the debt that month, according to the latest data from the Treasury Department. The selling came on the back of the Democratic victories in the January 5 Georgia run-off race which paved the way for bumper stimulus spending to revive the U.S. economy. Bets for growth and inflation to quicken have since gained traction, fueling a jump in Treasury yields to the highest in over a year.
Goldman Sachs Analyst and Brother Face Trial ‘for Insider Trading’ (MSN)
A Goldman Sachs analyst and his lawyer brother will face trial over claims they made £142,000 in profit from insider trading. Mohamed Zina and Suhail Zina, both of Stoke Newington, north London, are accused of having made the sum between July 15, 2016 and December 4, 2017. Mohamed, 32, was working for Goldman Sachs International’s Conflicts Resolution Group in their London office, while Suhail, 33, was a solicitor at Clifford Chance.
Coupang Inc (CPNG) CEO and Chairman Bom Suk Kim Sold $42 million of Shares (Guru Focus)
CEO and Chairman of Coupang Inc (NYSE: CPNG), Bom Suk Kim, sold 1,200,000 shares of CPNG on 03/15/2021 at an average price of $35 a share. The total sale was $42 million. Coupang Inc has a market cap of $86.53 billion; its shares were traded at around $50.450000.
A Director at Darling Ingredients (NYSE: DAR) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Darling Ingredients (DAR), Dirk Kloosterboer, sold shares of DAR for $1.53M. In addition to Dirk Kloosterboer, 2 other DAR executives reported Sell trades in the last month. Based on Darling Ingredients’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.02 billion and quarterly net profit of $44.75 million.
