David Simon’s Twin Securities Wins Best Merger Arbitrage Fund for the Fifth Time at HFM’s 2022 U.S. Hedge Fund Performance Awards (BusinessWire)
NEW YORK–(BUSINESS WIRE)– Twin Capital Management LLC, a New York-based hedge fund firm, announced today that its fund, Twin Securities, L.P., has been named “Best Merger Arbitrage Fund” at the 2022 HFM U.S. Performance Awards. This marks the fifth time that Twin Capital Management LLC has won this award and the sixth time in the last eleven years Twin has been recognized by HFM overall. “We want to thank HFM for recognizing Twin Capital with this award for the fifth time,” said David Simon, founder of Twin Capital Management LLC. “This honor is a testament to the hard work and dedication of the entire Twin Capital team. Our in-depth analysis of investment opportunities and ability to find trades in even the most complex situations have helped generate consistent and uncorrelated returns in a very competitive space.”
Capricorn Investor Palliser Says It Opposes Planned Merger with NewMed (Reuters)
Capricorn investor Palliser Capital said on Thursday it opposed Capricorn’s (CNE.L) planned merger with Israel’s NewMed Energy (NWMDp.TA), echoing its criticism of a previous failed merger plan with Tullow (TLW.L), as undervaluing the company. The Capricorn-NewMed deal would create an Israel-Egypt-focused gas producer including NewMed’s stake in Israel’s giant Leviathan offshore field at a time when Europe is looking for non-Russian energy supplies.
‘Unvarnished’ Bio of Ray Dalio Scheduled for Next Fall (Sunherald)
An “unauthorized, unvarnished” biography of billionaire hedge-fund manager Ray Dalio will be published next fall, authored by a Wall Street Journal investigative reporter whom the Bridgewater Associates founder has called biased and dishonest. “The Fund: Ray Dalio, Bridgewater Associates and the Unraveling of a Wall Street Legend,” by Rob Copeland, was announced Wednesday by St. Martin’s Press. The publisher is billing the book as a counterpoint to Dalio’s “mystique of success,” with Copeland drawing upon hundreds of interviews for an in-depth portrait of Dalio and Bridgewater.
Pixabay/Public Domain
Saba Capital Boss Weinstein ‘Very Pessimistic’ about Investing Climate (Hedge Week)
Boaz Weinstein, boss of New York-based hedge fund Saba Capital, is “very pessimistic” about the current investment climate and believes global stocks could be heading for a decades-long, Japan-style bear market, according to a report by The Financial Times. Saba Capital was one of the world’s best performing hedge funds during the market turmoil of 2020, but boss Weinstein is far from optimistic about investment opportunities in the coming years and believes that the ending of central bank stimulus programmes aimed tackling high inflation could put stocks in the “doldrums” for several years.
Hedge Fund Billionaire John Paulson, 66, Who’s in Bitter Divorce Battle with Wife of 21 Years, 51, ‘Wants to Marry Dietician Influencer, 34, Who’s Now Moved into His Fifth Ave Apartment’ (DailyMail.co.uk)
Hedge fund billionaire John Paulson, 66, now ‘wants to marry’ his 34-year-old girlfriend after moving her into his Fifth Avenue apartment – while the ugly divorce from his 51-year-old wife rumbles on. Things are getting serious between Paulson and nutrition influencer, Alina de Almeida, who is almost half his age, as a Page Six source claims she’s telling pals ‘he wants to have a baby with her and they are definitely getting married’. The pair, who are now thought to share Paulson’s swanky Manhattan home, have taken their relationship public at glitzy events since he filed for divorce in November.
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.
