Hedge Fund and Insider Trading News: Jim Simons, Knighthead Capital Management, Alden Global Capital, Elliott Management, Archegos Capital Management, Elanco Animal Health Inc (ELAN), Microchip Technology Inc. (MCHP), and More

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Sale of Tribune Newspapers to Hedge Fund Is Approved by Shareholders (The New York Times)
In the end, the hedge fund got its way. Shareholders of Tribune Publishing, whose titles include The Chicago Tribune, The Baltimore Sun and The New York Daily News, on Friday voted to approve the company’s sale to Alden Global Capital, an investor with a reputation for slashing costs and cutting jobs.

Hedge Funds Like Millennium, Citadel, and Blackstone have Dumped Shares in the Michael Klein-Backed SPAC Set to Acquire Lucid Motors (Business Insider)
Churchill Capital Corp. IV stock fell dramatically after its 300% ascent earlier this year. The special-purpose acquisition company is slated to take Lucid Motors public. Hedge funds like Blackstone and BlueCrest sold their stakes entirely, while Coatue bought shares. The once-red hot market for special-purpose acquisition companies (SPACs) has finally cooled. The Michael Klein-backed Churchill Capital Corp. IV, once a darling of the SPAC market, encapsulates its recent crash back down to earth in the past two months. The stock is trading at around $18 as of May 20, down from its peak of $64 per share in February. The current price is still more than the $10 each share was worth when the SPAC was formed.

Certares and Knighthead Close Inaugural Co-Managed Travel, Tourism and Hospitality Fund at USD1.5bn (Hedge Week)
Certares Management (Certares), an investment specialist dedicated to the travel, tourism and hospitality sectors, and Knighthead Capital Management, (Knighthead), a credit investment management firm, have closed the CK Opportunities Fund at approximately USD1.5 billion in total commitments. The Fund exceeded its initial target of USD1 billion over a six-month fundraising period in a fully virtual environment. The Fund received strong support from a diversified global investor base, including leading sovereign wealth funds, family offices, pensions, endowments and foundations, and financial institutions.

Countries with the Smallest Government Per Capita in the World


These are the UK’s Wealthiest Hedge Fund Managers in 2021 (Financial News)
For the City, the last 12 months proved to be a record year in minting new billionaires, as Britain created more wealthy business people during the pandemic than at any other time in the last three decades. This year’s Sunday Times Rich List identified a significant amount of wealth added on to the fortunes of the Square Mile’s top hedge fund managers, whose combined fortunes add up to £20.5bn.

Meet Jim Simons, the Wealthiest Hedge Fund Manager in the  World (Nairametrics)
Recently, we did a post about George Soros, one of the most successful hedge fund managers in the world. Well, Mr Soros is not the wealthiest hedge fund manager, despite his success in the career path. That title goes to Jim Simons and we are going to take a brief look at who he is, in this article. Meet Jim Simons: Jim Simons is the founder of Renaissance Technologies, an esteemed quantitative trading hedge fund firm that sits on top of a massive $55 billion fortune.

Archegos Fiasco Spurs Regulators to Demand Banks’ Answers Soon (Bloomberg)
Britain’s top banking regulator is pressing ahead with an international push for answers on how banks’ exposure to Archegos Capital Management got so massive, leading to more than $10 billion in losses. The Prudential Regulation Authority has started a probe, asking firms including Credit Suisse Group AG, UBS Group AG and Nomura Holdings Inc. to hand over information related to their lending to Archegos by next month, according to people familiar with the matter.

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