Ray Dalio of Bridgewater Associates at CGCC Lunar New Year Gala (CGTN)
CGTN’S Dezhi Xu spoke with American billionaire investor and hedge fund manager, Ray Dalio, who has served as co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates, since 1985. Mr. Dalio spoke with CGTN’s Dezhi Xu ahead of the China General Chamber of Commerce gala on Tuesday. Hear what he has to say about understanding U.S.-China competition.
Insight Partners Raises $20b Twelfth Fund (Globes)
New York-based fund Insight Partners, which has become one of the most prominent investors in Israel’s technology industry and is responsible for many local companies becoming unicorns, has announced the final closing of its twelfth flagship fund, along with a dedicated co-invest fund that will participate in certain investments alongside the flagship fund to invest in global high-growth technology, software and Internet businesses.
Citadel Is Further Paring Back $2 Billion Melvin Investment (The Wall Street Journal)
Citadel LLC is further paring back its $2 billion investment in Melvin Capital Management after the hedge fund stumbled in its effort to recover from a near collapse triggered by surges in GameStop Corp. and other “meme stocks” early last year. Citadel in late January asked to redeem half the money the firm and its partners have left in Melvin’s hedge fund, after originally halving their investment late last year, as Melvin racked up double-digit losses for the second January in a row, people familiar with the matter said. The latest redemption request would be paid out at the end of March, the people said.
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Inflows and Profits Bring Assets to $4.8 Trillion (Hedge Nordic)
Stockholm (HedgeNordic) – Total hedge fund assets reached an estimated $4.8 trillion at the end of 2021, as December trading profits amounting to $39.8 billion exceeded the month’s $20.4 billion in redemptions, according to BarclayHedge. A string of nine consecutive months of inflows, together with strong trading profits during the year, led to hedge fund assets growing by almost 23 percent year-over-year in 2021.
Hedge Funder Drops Record $35M for Oceanfront Highland Beach Estate (The Real Deal)
Hedge fund manager Paul Saunders and his wife, Victoria Saunders, paid a record $34.7 million for an oceanfront Highland Beach estate. The Saunderses bought the three-story, seven-bedroom mansion at 2445 South Ocean Boulevard from the estate of the late Mark Hamister, according to a deed.
Most Hedge Fund Strategies Positive in Q4 2021, Says Citco (Hedge Week)
Q4 was another solid quarter for hedge funds, with most strategies and all AUA categories delivering positive results, according to the Citco 2021 Q4 Hedge Fund Update. Overall weighted average returns for hedge funds were 1.52 per cent. The quarter once again largely continued a trend for funds on the Citco platform with net positive inflows for the months intra-quarter, and the quarter-end trading cycle experiencing some net outflows. In aggregate, investors added a net total of USD5.7 billion over the whole three-month period.
ECB Bet Gives Brevan Howard Bumper Trading Day (Hedge Week)
Macro hedge fund Brevan Howard Asset Management had one of its best ever trading days on 4 February, according to a report by Bloomberg. The firm benefitted from bets on short-term euro rates after the ECB signalled that it may begin to start raising interest rates this year. Star trader Fash Golchin who chalked up record losses last year, is said to have made 8 per cent, according to unnamed sources. The firm’s multi-trader Alpha Strategies platform, plus several other managers including Louis Basger, Minal Bathwal and Alfredo Siatta, are also said to have made gains.
Blackstone Hedge Fund Trio Resigns After Leadership Changes (Bloomberg)
Three Blackstone Inc. managing directors resigned following leadership changes at the firm’s hedge fund solutions group, according to people with knowledge of the matter. Rakesh Kumar, the head of trading at Blackstone Alternative Asset Management’s special situations investing group, is set to join Point72 Asset Management, said the people, who asked not to identified discussing the move.
General Catalyst Hauls in $4.6bn Across Three Funds (Opalesque)
American venture capital firm General Catalyst (GC) has hauled in $4.6 billion, which is spread across a trio of distinct strategies, contributing to a strong start for venture fundraising this year. According to a press release from the VC firm focused on early-stage and growth investments, the new Fund XI is consisting of Creation ($800 million), Ignition ($1.1 billion), and Endurance ($2.7 billion). The largest fund in the new General Catalyst family is the $2.7 billion vehicle called General Catalyst Group XI-Endurance LP. The fund will be dedicated to investing in later-stage private companies with valuations north of $150 million.
AIR Asset Management Surpasses $500M AuM (PRNewswire.com)
CHICAGO, Feb. 24, 2022 /PRNewswire/ — AIR Asset Management (“AIRAM” or “Firm”), a hedge fund management firm focused on longevity-linked investments such as life settlements and annuities, received $136 million in net inflows into its multi-strategy investment products in 2021. The Firm’s total assets under management surpassed $500 million as of January 31, 2022, representing a 45% increase year on year. The Firm attributes this rapid growth to robust and sustained investor demand for its risk-adjusted double-digit returns among RIAs and Institutional Investors, which now make up over 80% of the Firm’s investor base.
Thursday 2/24 Insider Buying Report: FCFS, VPG (Nasdaq.com)
At FirstCash Holdings, a filing with the SEC revealed that on Wednesday, AFF President Howard F. Hambleton bought 13,187 shares of FCFS, at a cost of $75.82 each, for a total investment of $999,900. Investors have the opportunity to snag FCFS at a price even lower than Hambleton did, with shares trading as low as $70.90 in trading on Thursday — that’s 6.5% under Hambleton’s purchase price. FirstCash Holdings is trading down about 2.6% on the day Thursday. This purchase marks the first one filed by Hambleton in the past twelve months. And at Vishay Precision Group, there was insider buying on Tuesday, by Director Wes Cummins who purchased 30,000 shares at a cost of $32.26 each, for a trade totaling $967,650.
Executives Buy Over $70M Of 4 Stocks (Benzinga)
Amplitude: The Trade: Amplitude, Inc. (AMPL) Director Patrick Grady acquired a total of 2,563,748 shares at an average price of $19.48. To acquire these shares, it cost around $49.95 million. Duolingo: The Trade: Duolingo, Inc. DUOL 10% owner Durable Capital Partners Lp acquired a total of 112,069 shares at an average price of $87.57. To acquire these shares, it cost around $9.81 million. Warby Parker: The Trade: Warby Parker Inc. WRBY 10% owner Daniel Sundheim bought a total of 240,000 shares at an average price of $27.99. To acquire these shares, it cost around $6.72 million.
