Crypto Hedge Fund Three Arrows Capital Plunges into Liquidation (Sky News)
Three Arrows Capital, a cryptocurrency-focused hedge fund, has plunged into liquidation, deepening the crisis engulfing the global digital assets sector. Sky News has learnt that partners from Teneo in the British Virgin Islands has been lined up to handle the insolvency of the Singapore-based firm, which was set up in 2012 by Su Zhu and Kyle Davies.
Who is Michael Hintze? The Tory Funder and Climate Sceptic about to be Made a Lord (Big Issue)
Hedge fund billionaire Michael Hintze is about to become a controversial member of the House of Lords, according to the Sunday Times. Following two by-election defeats, the resignation of Tory Party chairman Oliver Dowden, and a disastrous address at a Conservative fundraising dinner at the Victoria and Albert Museum, Boris Johnson is about to make its most prominent Tory donor, Sir Michael Hintze, a member of the House of Lords, according to a Sunday Times report over the weekend.
Bill Ackman Urges Fed to ‘Act Decisively to Kill Inflation’ (Biz.Crast.net)
Billionaire hedge fund manager Bill Ackman on Twitter Tuesday morning reiterated recent calls for the Federal Reserve to intervene aggressively to reduce inflation. Ackman’s latest tweet comes a day after a major economic report showed US consumers have the most pessimistic economic outlook in nearly a decade.
Sustainable Investment Awards 2022 (Environmental-Finance.com)
Hedge Fund Manager of the Year: Brevet Capital. Brevet Capital has deployed a significant amount of capital over the past year to support innovative growth companies working on environmental solutions. This includes companies providing products and services in the following areas: renewable energy, energy efficiency, green mining, agriculture, waste management and emissions reduction. Key investments include Linecrest and NT Bullion, which have scaled up production of iron-ore in Northern Australia. It now has plans to expand to Western Australia and is working with Brevet to identify other technologies which could be adapted for use at mine sites.
St. Petri Readying Launch of Long-Only Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Danish boutique asset manager St. Petri Capital is readying the launch of its long-only European small-cap fund in the second half of 2022. Scheduled to launch in September or October, the fund will be managed by Ivan Larsen, a long-time small-cap-focused portfolio manager at Danske Bank Asset Management who joined St. Petri Capital as partner this year, and investment analyst Johann Grøndahl.
Citadel’s Ken Griffin Loses $50 Million Bet in Billionaire Bout for Illinois Governorship (The Wall Street Journal)
CHICAGO — Hedge-fund billionaire Ken Griffin lost his $50 million bet in the Illinois Republican primary for governor Tuesday after the suburban mayor he helped lift out of relative obscurity lost to a staunch conservative who benefited from Democratic advertising. Darren Bailey, a southern Illinois farmer and state senator endorsed last weekend by former President Donald Trump, was declared the GOP winner by the Associated Press. He will face Democratic Gov. J.B. Pritzker, a billionaire and the nation’s wealthiest elected official, on November’s ballot.
Hedge Fund Viking Global Seeks to Raise $1 Billion to Back Cash-Hungry Startups (Bloomberg)
Viking Global Investors is raising a structured equity fund, joining the likes of Coatue Management in seeking to provide capital to cash-hungry startups, a move that may help private companies delay raising money at lower valuations amid tumultuous public markets. Viking has begun conversations with prospective investors about the vehicle, which will be led by its head of credit, Patrick Dowd, according to people familiar with the matter.