Hedge Fund ARCM Hit with Fine in Asia Two Years After Premier Oil Short Penalty (Financial News)
Hong Kong’s Securities and Futures Commission fined Asia Research and Capital Management $1.75m for failing to comply with European Union’s short-selling reporting requirements. The hedge fund’s disclosure breach relates to its 2020 short position in Premier Oil. In October 2020, the FCA announced a fine of £873,118 on ARCM for not reporting the same position between 22 February 2017 and 3 December 2019. Unlike in the US, many European regulators require funds to disclose publicly short positions exceeding 0.5% of a stock’s…
Three Arrows Founders, Still Absent, to Get Subpoenas on Twitter (Bloomberg)
Liquidators charged with untangling the blowup of Three Arrows Capital are taking unusual steps to force the crypto hedge fund’s founders, Su Zhu and Kyle Davies, to cooperate with its unwinding. Court-appointed liquidators from advisory firm Teneo, along with their lawyers, are asking a US judge for permission to serve Zhu and Davies with subpoenas through their Twitter accounts and email addresses because normal methods have failed, court papers show. The founders precise whereabouts are still unknown and their lawyers refuse to accept papers on their behalf, according to the filings.
Clearview Hits Hard Cap Close by Hauling in $850m for Its Fifth Flagship Buyout Fund (Opalesque)
Clearview Capital, a private investment firm specializing in the acquisition and recapitalization of North American companies, has closed its Clearview Capital Fund V at its hard cap of $850 million. The Stamford, CT-headquartered private equity firm said in a media release that Fund V enjoyed support from a broad base of existing investors while adding several new blue-chip institutional limited partners. Fund V also received support from two dozen current and former managers/sellers of Clearview Capital’s portfolio investments, it said. Clearview Capital’s investor base includes endowments, foundations, pension funds, family offices, funds of funds, and high-net-worth investors.
Bridgewater Shorts €130m Worth of CRH Shares (Business Post)
Bridgewater, the hedge fund founded by the American multibillionaire Ray Dalio, is shorting nearly €130 million worth of shares in CRH, the Irish concrete and construction materials company. The hedge fund, which is the world’s largest, with $150 billion in assets, has been holding a short position on 0.52 per cent of CRH’s shares since the end of September, Central Bank filings show.
Insider Trading: October 17, 2022 (BIV.com)
Insider Amar Doman, director. Company: Doman Building Materials Group Ltd. (TSX:DBM). Shares owned: 16,616,820. Trade date: Sept. 29. Trade total: $204,160. Trade: Acquisition of 35,200 Shares at a Price of $5.80 Per Share. Insider John Kim, director. Company: Well Health Technologies Corp. (TSX:WELL). Shares owned: 508,379. Trade date: Sept. 30. Trade total: $153,000. Trade: Sale of 50,000 shares at a price of $3.06 per share.
Monday 10/17 Insider Buying Report: CAMP, VOXX (Nasdaq.com)
At CalAmp, a filing with the SEC revealed that on Wednesday, Director Wes Cummins purchased 110,000 shares of CAMP, for a cost of $3.46 each, for a total investment of $380,580. Bargain hunters are able to snag CAMP at a price even lower than Cummins did, with the stock changing hands as low as $3.24 in trading on Monday — that’s 6.4% under Cummins’s purchase price. CalAmp is trading up about 2% on the day Monday. Before this latest buy, Cummins bought CAMP on 4 other occasions during the past year, for a total investment of $2.7M at an average of $4.11 per share. And on Thursday, CEO Patrick M. Lavelle purchased $58,500 worth of Voxx International, purchasing 9,000 shares at a cost of $6.50 a piece. Before this latest buy, Lavelle purchased VOXX at 9 other times during the past year, for a total investment of $665,178 at an average of $6.84 per share.
$40 Million Bet On Inhibrx? 3 Stocks Insiders Are Buying (Benzinga)
Enviva: The Trade: Enviva Inc. (EVA) Director Jeffrey W Ubben acquired a total of 200,000 shares an average price of $50.69. To acquire these shares, it cost around $10.14 million. Momentive Global: The Trade: Momentive Global Inc. (MNTV) Director Raymond White acquired a total of 772,500 shares at an average price of $7.15. To acquire these shares, it cost around $5.52 million.
Hedge Fund Managers Score Tax Break While Keeping Investment Control (Bloomberg)
Lone Pine’s Stephen Mandel and Renaissance Technologies’ Peter Brown are among those with foundations that give to donor-advised funds, while investing in their own firms in the meantime. Word is out among hedge fund managers on how to get tax breaks for giving to charity — without actually handing over their money just yet. They can even keep it in their funds.
