Former Arena and Angelo Gordon private markets vets launch Z2 Investment Management (Opalesque.com)
Scott Gold, previously head of Private Direct Lending at Arena, along with Jake Sussman previously of Arena and Bobby Barret who joins from Angelo Gordon, have joined forces to launch Z2 Investment Management. The firm provides direct lending as well as debt/equity financing solutions. Scott Gold, Managing Partner, leads strategy and overall management of the firm. Prior to Arena, Gold served as a Senior Vice President and founding member of the direct lending strategy at Alcentra Capital, a subsidiary of BNY Mellon. Jake Sussman, Partner, was most recently a Director of Corporate Private Investments at Arena Investors where he worked alongside Gold on Arena’s private credit strategies.
Hedge Fund Redemptions Reached an Unusual High in September (Institutional Investor)
Although hedge funds don’t often see net inflows from investors in September, the redemptions in the past month were unusually large. Net hedge fund outflows reached $21 billion in September this year, almost twice as large as the September average from 2014 to 2021, according to the latest asset flow report from eVestment, which is part of Nasdaq. It was the fourth consecutive month in which hedge funds had negative inflows.
-Crypto Hedge Fund Strix Leviathan Taps BlackRock’s Matthew McBrady to Head Strategy (Financial News)
Quantitative crypto hedge fund Strix Leviathan has named BlackRock’s former chief investment officer Matthew McBrady as strategy head. In the new role, McBrady — who has almost 25 years of experience as an investor and economic policy advisor — will oversee Strix Leviathan’s growth plans. He will also advise the crypto hedge fund on its trading and investment strategies.
Thursday 10/27 Insider Buying Report: PRME, BHVN (Nasdaq.com)
At Prime Medicine, a filing with the SEC revealed that on Monday, Director Thomas Cahill purchased 400,000 shares of PRME, for a cost of $17.00 each, for a total investment of $6.8M. Investors can grab PRME even cheaper than Cahill did, with the stock trading as low as $16.01 in trading on Thursday which is 5.8% below Cahill’s purchase price. Prime Medicine is trading off about 0.6% on the day Thursday. This buy marks the first one filed by Cahill in the past year. And at Biohaven, there was insider buying on Tuesday, by Gregory Bailey who purchased 200,000 shares for a cost of $10.50 each, for a trade totaling $2.1M. Before this latest buy, Bailey made one other buy in the past twelve months, purchasing $5.63M shares for a cost of $148.04 a piece. Biohaven is trading up about 1.7% on the day Thursday. Bailey was up about 34.4% on the purchase at the high point of today’s trading session, with BHVN trading as high as $14.11 at last check today.
$2 Million Bet On FB Financial? 3 Stocks Insiders Are Buying (Benzinga)
FB Financial: The Trade: FB Financial Corporation (FBK) 10% owner James Ayers acquired a total of 53,088 shares an average price of $37.25. To acquire these shares, it cost around $1.98 million. Riley Exploration Permian: The Trade: Riley Exploration Permian, Inc. (REPX) 10% owner Balmon California Inc acquired a total of 23,755 shares at an average price of $26.99. To acquire these shares, it cost around $641.25 thousand.
