James Simons Steps Down as Chairman of Renaissance Technologies (The Wall Street Journal)
Investing pioneer James Simons is stepping back from his quant hedge fund, Renaissance Technologies LLC. Several weeks ago, Mr. Simons – a former math professor and codebreaker who built Renaissance into one of the most successful investment firms in history – told clients he was stepping down as chairman of the firm’s board of directors as of Jan. 1. Mr. Simons, who will turn 83 in April, resigned as Renaissance’s chief executive in 2010, but continued to lead the board.
Blackstone-Backed Hedge Fund That Beat Peers Likes Old-World EMs (Bloomberg)
Carrhae Capital, the Blackstone Group Inc.-backed hedge fund, is betting on old-world industries in emerging markets that will benefit from recovering demand amid continued monetary stimulus worldwide. After a year in which tech stocks excelled, the prospect of a pick-up in growth augurs well for more traditional companies, even though additional fiscal stimulus under Joe Biden will likely lead to higher U.S. Treasury yields, said Ali Akay, the London-based chief investment officer of Carrhae.
Silver Lake Amasses $20bn for Largest-Ever Tech-Focused Buyout Fund (Opalesque.com)
Silver Lake has closed buyout fund Silver Lake Partners VI at $20 billion, reaching its hard cap, as the technology-focused private equity firm looks to focus on large-scale investments. The raised capital includes roughly $500 million from the general partner. The fund will target global large-cap technology firms. “We are very pleased with the response we have received across the board from limited partners, especially given the current environment, which we believe validates Silver Lake’s strategic discipline, deep technology expertise, and intensive focus on growth,” said Susannah Carrier, Managing Director and global head of fundraising and investor relations.
Hedge Fund Balyasny Asset Management Hires Senior Energy Traders (Reuters)
NEW YORK, Jan 13 (Reuters) – Hedge fund Balyasny Asset Management (BAM) has hired two senior energy traders, sources familiar with the matter said on Wednesday. The firm hired Mike Grigsby, former senior managing director and head of proprietary crude oil trading at commodities merchant Castleton Commodities International, the sources said.
Healthcare Hedge Fund Rhenman Gauges “Crucial” Impact of Biden Administration’s Planned Reforms (Hedge Week)
The incoming US administration led by Joe Biden will be a “crucial” factor looming large over the healthcare industry this year, with planned reforms heralding potentially far-reaching implications for healthcare stocks and drug prices, Rhenman & Partners Asset Management said this week. Rhenman’s flagship Healthcare Equity Long/Short hedge fund gained 17.1 per cent in its main euro-denominated IC1 share class last year, bolstered by a 4.8 per cent monthly return in December.
Othania’s One-Stop Product (Hedge Nordic)
Stockholm (HedgeNordic) – “Diversification is the only free lunch” in investing, says one quote attributed to Nobel Prize winner Harry Markowitz. In response to client demand, Danish boutique asset manager Othania has launched a fund of funds that represents a “one-stop” solution providing access to a wide range of asset classes via investments in hedge funds, alternative investment funds, and exchange-traded funds (ETFs).
Hedge Fund Trader Loses Extradition Ruling in Tax Fraud Case (Bloomberg)
Veteran trader Guenther Klar lost his fight to avoid extradition to Belgium, where he’s wanted for questioning in the country’s investigation into tax fraud. He would be the first trader extradited from the U.K. to another country as part of a probe related to controversial Cum-Ex trading. Prosecutors want to question the 51-year-old in relation to an alleged 22 million-euro ($26.7 million) fraud, according to court documents.
World’s Biggest Short Selling Hedge Fund Scaling Down, Institutional Investor Says (Seeking Alpha)
Sophos Capital Management, which as of a year ago was the world’s biggest hedge fund dedicated to short selling, is scaling back, Institutional Investor reported earlier. Sophos, founded by Jim Carruthers, has been telling people that the fund has been winding down some positions since late last year, according to individual familiar with Carruthers. The firm, which was started in 2014 helped by a seed investment from Yale’s endowment, is not being shut down, according to people close to the matter.
Thursday 1/14 Insider Buying Report: LNDC, GBIO (Nasdaq.com)
At Landec, a filing with the SEC revealed that on Tuesday, Nelson Obus bought 20,000 shares of LNDC, for a cost of $10.76 each, for a total investment of $215,248. Obus was up about 4.1% on the buy at the high point of today’s trading session, with LNDC trading as high as $11.20 at last check today. Landec is trading up about 2.6% on the day Thursday. Before this latest buy, Obus made one other purchase in the past twelve months, buying $103,023 shares for a cost of $10.30 a piece. And at Generation Bio, there was insider buying on Monday, by Donald William Nicholson who bought 4,081 shares at a cost of $24.50 each, for a total investment of $99,984.
Ringcentral Inc (RNG) CFO Mitesh Dhruv Sold $8.1 million of Shares (Guru Focus)
CFO of Ringcentral Inc, Mitesh Dhruv, sold 20,819 shares of RNG on 01/12/2021 at an average price of $387.64 a share. The total sale was $8.1 million. RingCentral Inc provides software-as-a-service, or SaaS, solutions for business communications. Its solutions can be used in multiple devices including Smartphones, Tablets, PC’s and Desk Phones which allows for communication across multiple channels.
A Director at CF Bankshares (NASDAQ: CFBK) is Buying Shares (Analyst Ratings)
Today, a Director at CF Bankshares (CFBK), Robert Hoeweler, bought shares of CFBK for $105.7K. Following this transaction Robert Hoeweler’s holding in the company was increased by 41.87% to a total of $935.4K. Following Robert Hoeweler’s last CFBK Buy transaction on February 01, 2019, the stock climbed by 3.5%.