Bausch Health Names Hedge Fund Billionaire Paulson Chairman (Bloomberg)
Bausch Health Cos. named hedge fund billionaire John Paulson as its new chairman, replacing Joseph Papa, who resigned Thursday. The pharmaceutical and device company, which focuses on eye care, gastroenterology and dermatology products, said Papa’s resignation wasn’t the result of “any dispute or disagreement.” Paulson, who is also the company’s second-largest shareholder, starts immediately.
Hedge Fund Camelot Builds Stake in Boohoo (Proactive Investors)
American hedge fund Camelot Capital Partners is building a stake in Boohoo Group PLC (AIM:BOO) as the retailer battles the impact of customer returns and inflation. Camelot has taken a 4.59% stake in the British online retailer, crossing the threshold for regulatory disclosure. The California-based hedge fund bought approximately 58mln shares or an unknown consideration, which could be worth more than £34mln.
Could Troubled Hedge Fund D1 Capital Go Privates-Only? (Institutional Investor)
Daniel Sundheim’s hedge fund is said to be selling off its public stocks as the tech meltdown continues. After more than 14 years at Viking Global Investors, Daniel Sundheim struck out on his own to launch D1 Capital Partners in 2018 — to much fanfare. The former Viking CIO embraced both the tech growth bubble and the booming world of privates, taking a risky gamble by putting as much as 50 percent of one share class in the hedge fund in illiquid privates — and then adding leverage to the mix. But now the strategy of the once-lauded Sundheim may be coming undone. “My sources tell me that [D1] is closing,” Whitney Tilson, founder and CEO of Empire Financial Research, wrote in an email to his followers on Thursday.
Photo by Austin Distel on Unsplash
Chicago Loses a Business Citadel (The Wall Street Journal)
The first step to recovery is supposed to be admitting you have a problem. But Illinois Gov. J.B. Pritzker still won’t, even after billionaire Ken Griffin on Thursday said he’s moving his Citadel hedge fund and securities trading firm to Miami from Chicago. Mr. Griffin noted in a letter to employees that many workers had clamored to relocate to other offices, including Miami. They don’t merely want to escape Chicago’s winters. Many are literally running for their lives amid a crime surge that shows no signs of abating.
How 3 Hedge Funds are up More Than 100% Even as Markets Slump and Other Managers Struggle (Business Insider)
Some hedge funds are having a tough first half of the year, but others are winning in a tumultuous market environment. New York-based global macro hedge fund Haidar Capital Management, e360’s Power Fund, a commodity-based hedge fund in Austin, Texas, and investor Crispin Odey‘s eponymous hedge fund have topped the charts for their performance over the five months ending in May, according to a report by Societe Generale’s prime services business.
LGT Capital Partners Soars Past Crown Asia-Pacific Private Equity V Target to Strike $1.65bn Hard Cap (Opalesque)
Swiss alternative investment specialist LGT Capital Partners has held the final close of its fifth Asia Pacific fund-of-funds at a hard cap of $1.65 billion, which exceeded the $1 billion target. The largest family-owned private banking and asset management group in the world said in a press release that the fund, Crown Asia-Pacific Private Equity V (CAPE V), attracted commitments from more than 50 institutions, including pension funds, insurance companies, university endowments, and foundations in Europe, the US, Canada, Australia, and the Middle East.
Vive Funds Exits Atlanta Multifamily Investment Property, Yields Strong Return for Investors in a Record 19 Months (GlobeNewswire)
DALLAS, June 24, 2022 (GLOBE NEWSWIRE) — Dallas-based Vive Funds is pleased to announce its latest exit of a multifamily property located in Marietta, Georgia. The project successfully generated strong returns for its investors, with the equity multiplier reaching ~1.8 in just 19 months. The real estate investment fund was able to exit the property in a mere 19 months despite an initial business plan of five years.
Few Hedge Funds Prove to Be Profiting From Market Downturn (BeinCrypto)
Although many investors have suffered huge losses at the sudden descent of digital assets like Bitcoin and TerraUSD, a few computer-based funds have capitalized on them using algorithms. Appia fund: One such investor is former Lehman Brothers and Morgan Stanley trader Jay Janer, whose Appia fund wagers on rising and falling crypto futures prices. When it bets the market is going down, it places short positions to take advantage of the rapid decline.
Friday 6/24 Insider Buying Report: EVA, RSVR (Nasdaq.com)
On Thursday, Enviva’s CEO, John K. Keppler, made a $994,650 buy of EVA, purchasing 16,422 shares at a cost of $60.57 each. So far Keppler is in the green, up about 2.3% on their purchase based on today’s trading high of $61.97. Enviva is trading up about 5.5% on the day Friday. And also on Thursday, Director Ezra S. Field purchased $149,960 worth of Reservoir Media, purchasing 23,000 shares at a cost of $6.52 a piece. Reservoir Media is trading up about 4.8% on the day Friday. Field was up about 3.8% on the purchase at the high point of today’s trading session, with RSVR trading as high as $6.77 in trading on Friday.
Executives Sell More Than $67M Of 5 Stocks: NetApp, Eli Lilly And More (Benzinga)
Centene: The Trade: Centene Corporation (CNC) Director Richard Gephardt sold a total of 13,520 shares at an average price of $83.05. The insider received around $1.12 million from selling those shares. NetApp: The Trade: NetApp, Inc. (NTAP) CEO George Kurian sold a total of 2,125 shares at an average price of $65.04. The insider received around $138.21 thousand as a result of the transaction.
