Oaktree Closes Opportunities Fund XI at USD16bn (Hedge Week)
Oaktree Capital Management (Oaktree) has held the final close of Oaktree Opportunities Fund XI and its related vehicles (Opps XI), with total capital commitments of USD15.9 billion. Opps XI is Oaktree’s largest fund to date, exceeding its original target of USD15 billion. To date, the Fund has invested or committed to invest approximately 70 per cent of its capital in an attractive mix of opportunities that are diversified across geographies, sectors and asset classes. This swift pace of investment has been made possible by the strategy’s all-weather, broad, and flexible investment charter that allows the Opportunities group to consider the most attractive public and private investments worldwide.
Institutional Investors Comfortable with Stevie Cohen Again, Raises $600 Million for First PE Fund (SWFInstitute.org)
Hedge fund Point72 Asset Management closed a US$ 600 million funding round for Point72 Hyperscale, its inaugural private equity fund. Point72 today announced it has closed on a $600 million funding round for Point72 Hyperscale plans to acquire companies and seeks to use applied artificial intelligence to modernize them into market leaders. Steven A. Cohen is the founder and CEO of Point72. Earlier in 2021, Point72 established Point72 Private Investments as the new business unit for its growing institutional private investing activities, which include Point72 Ventures, its global venture capital strategy, and Point72 Hyperscale.
Hedge Fund Performance Update: October 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark returned +2.63 in October, reversing September’s losses (-0.99%) and pushing the year-to-date return to +14.85%. This heatmap presents the hedge fund performance benchmarks for October 2021, plus the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications.
SSE to Sell Stake in Networks to Fund Net Zero Spending Plan (Bloomberg)
(Bloomberg) — SSE Plc is selling a stake in its electricity network assets to fund a net zero spending drive as it grapples with pressure from activist investor Elliott Investment Management. The British utility expects to sell 25% share of both its transmission and distribution grid assets, confirming an earlier Bloomberg report. The sale will fund a 65% increase in capital expenditure for net zero infrastructure to 12.5 billion pounds ($16.8 billion) during the next five years, according to a strategic update on Wednesday. Spending will be allocated 40% to networks, 40% to renewables and 20% to other flexible generation.
Wednesday 11/17 Insider Buying Report: JXN, EAF (Nasdaq.com)
At Jackson Financial, a filing with the SEC revealed that on Friday, Vice Chair, Paul Chadwick Myers purchased 38,925 shares of JXN, at a cost of $32.95 each, for a total investment of $1.28M. So far Myers is in the green, up about 6.9% on their buy based on today’s trading high of $35.21. Jackson Financial Inc Class A is trading up about 0.5% on the day Wednesday. And at GrafTech International, there was insider buying on Friday, by Director Jean-marc Germain who bought 35,000 shares for a cost of $12.75 each, for a total investment of $446,134. This purchase marks the first one filed by Germain in the past year. GrafTech International is trading down about 3.5% on the day Wednesday.
Notable Workiva Insider Trades $90M In Company Stock (Benzinga)
Martin J Vanderploeg, CEO at Workiva (NYSE:WK), made a large buy and sell of company shares on November 16, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Martin J Vanderploeg exercised options to purchase 864,199 Workiva shares for $0 on November 16. They then sold their shares on the same day in the open market. They sold at prices ranging from ($0.00) to $151.00 to raise a total of $90,600,000 from the stock sale.
A Director at Yellow Corporation (NASDAQ: YELL) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Yellow Corporation (YELL), Matthew Doheny, bought shares of YELL for $407.7K. This recent transaction increases Matthew Doheny’s holding in the company by 18.47% to a total of $2.56 million. Following Matthew Doheny’s last YELL Buy transaction on November 09, 2021, the stock climbed by 1.8%. Based on Yellow Corporation’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.3 billion and quarterly net profit of $8.3 million.
