Hedge Fund and Insider Trading News: Jaime Sterne, Kyle Bass, Alden Global, Standard General LP, Vector Group Ltd (VGR), TransDigm Group Incorporated (TDG), Carnival Corp (CCL), and More

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Jamie Sterne’s Skye Global Finished 2020 With a Bang (Institutional Investor)
The one-time Institutional Investor Hedge Fund Rising Star plans to close his fund to additional capital in the coming months. Skye Global Management further cemented its distinction as one of the most successful hedge fund launches in recent years.The long-short fund headed by one-time Institutional Investor Hedge Fund Rising Star Jamie Sterne posted another huge gain last year, finishing up 68.6 percent, according to two investors – continuing a streak…

Kyle Bass Barred From Making Stuff Up About Lawyers For REIT He Accuses Of Making Stuff Up (Deal Breaker)
Whether or not Hayman Capital Management’s Kyle Bass can say what he likes about real-estate investment trust manager United Development Funding – and those things include that it is a worthless Ponzi scheme engaged in all sorts of self-dealing, among others—remains an open question. What has been rather definitely settled, by a rather pissed-off judge, is that Kyle Bass and his representatives cannot say what they like about UDF’s lawyers, at least without being rather roundly sanctioned.

Hedge Fund Alden Global’s SPAC Oyster Enterprises Acquisition Prices $200 million IPO (Nasdaqa.com)
Oyster Enterprises Acquisition, a blank check company led by executives from hedge fund Alden Global targeting media, tech, and other industries, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of one warrant, exercisable at $11.50.

Insider Trading Wall Street Trader Panic

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American Apparel Founder’s Fraud Claim Tossed in Hedge Fund Suit (Bloomberg Law)
A securities fraud claim brought by the former CEO of American Apparel Inc. is precluded by a Delaware court order requiring him to repay around $20 million that he borrowed from a hedge fund in an attempt to regain control of the company, a California appeals court said Tuesday. Dov Charney was ousted from the clothing retailer by its board of directors in 2014 over misconduct and mismanagement concerns. Charney said hedge fund Standard General LP approached him shortly after and offered an opportunity for him to regain control of the company.

Hedge Fund Performance Update: December 2020 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark had a strong end to 2020, posting +3.99% in December. This pushed the YTD return to +16.69%, and the three-year annualized return to +8.20%. This factsheet presents the hedge fund performance benchmarks for December 2020. Plus, the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.

JP Morgan Asset Management Forecasts “Rich Environment” for Hedge Funds as ‘Megatrends’ Take Centre-Stage (Hedge Week)
The fallout from the coronavirus pandemic is set to unlock global “megatrends” this year, including consumer and corporate technology, healthcare, and sustainability themes – and hedge fund investors can expect a “rich environment for growth”, a major new study by JP Morgan Asset Management suggests. The firm’s 2021 Global Alternative Outlook also predicts a rebound in equity market fundamentals as economies recover from the Covid crisis, as well as continued momentum in special purpose acquisition vehicles (SPACs), which have seen a surge in activity among several high-profile, brand name hedge funds over the past year.

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