Toscafund Expands Asia-Pacific Presence with New Hong Kong Office (Hedge Week)
Toscafund, a London-headquartered specialist asset manager founded by Martin Hughes in 2000 and chaired by Martin Gilbert, has opened a Hong Kong office, its second in Asia-Pacific, following regulatory approval from the Hong Kong Securities and Futures Commission. Toscafund’s fifth and newest office extends the firm’s global network for both fund distribution and investment across its specialist areas – listed equities, private equity, private debt and UK commercial property.
Sizing Up Tampa’s Hedge Fund Scene (Tampa Bay Business Journal)
The U.S. market dominates the hedge fund industry. Of the 27,255 active hedge funds globally, 67% are based in the U.S. Tampa Bay is currently home to 40 active hedge funds and, on par with national trends, has seen an increase in fund launches in recent years, according to research by SigTech. Nine new hedge funds have launched in Tampa since 2020, and at least one of those was a crypto hedge fund – RSK Trading Group LLC.
Ufenau Capital Partners Raises $1.1bn Hard Cap for its Seventh Fund (Opalesque)
Ufenau Capital Partners, a privately owned investment company headquartered in Switzerland, has held a final close for Ufenau VII on its EUR 1bn ($1.1bn) hard-cap. “The fund was swiftly closed at the hard cap, following strong demand from global investors despite the pandemic. The hard cap was reached in under three months from the formal launch of the fundraising,” claimed a press release from the asset manager. Ufenau VII is significantly larger than its predecessor fund, Ufenau VI, as a result of strong and undiminished demand from both existing and new investors, it said.
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Chelsea FC Sale: Chicago Cubs-Owners Fortify Bid with New Bank Signing (Sky News)
Sky News has learnt that the Ricketts family and the hedge fund billionaire Ken Griffin have hired Jefferies, the US-based investment bank, to advise on and potentially help finance a formal offer for the Blues. Jefferies’ appointment, alongside that of Lazard – another adviser to the Ricketts-Griffin bid – underlines how Wall Street banks are jockeying for roles on what could be the most lucrative sale of a sports franchise in history.
Greenlight Lost Money in March (Institutional Investor)
But David Einhorn’s fund remains solidly in the black for the year. Greenlight Capital suffered a setback in March.The value driven hedge fund headed by David Einhorn dropped 1 percent for the month, missing out on the rally in the S&P 500, which rebounded by 5.2 percent.Even so, Greenlight is still up 4.4 percent for the year, solidly ahead of the S&P…
NSE-BSE Bulk Deals: Hong Kong-Based Hedge Fund Trims Stake in IIFL Wealth (The Economic Times)
NEW DELHI: WF Asian Reconnaissance Fund, a Hong Kong-based hedge fund operated by Ward Ferry Management, sold 6,98,922 shares of IIFL Wealth Management in a bulk deal on Friday, data published by NSE showed. As of the December quarter, the hedge fund held a 4.51 per cent stake in the company or 40,01,783 shares. The sold shares constitute about one-sixth of its holdings. The transaction happened at an average price of Rs 1,714.05 per share.
Russia War in Ukraine Exposes Weakness in ESG Fund (The Wall Street Journal)
Russia’s invasion of Ukraine is exposing the trade-offs in a hot Wall Street product meant to encourage good governance. Environmental, social and governance, or ESG, funds have become a top trend, promising to boost returns while bettering the world by avoiding countries prone to pollution, corruption and even war. The strategy backfired on two of its biggest advocates – JPMorgan Chase & Co. and BlackRock Inc. – when Russia invaded Ukraine and returns in one of their ESG strategies lagged behind more conventional funds.
Warren Buffett and Ray Dalio: How Their Investments Differ and Why It Matters (The Motley Fool)
There’s more than one way to make money investing. If you want to learn to invest from the best, Warren Buffett and Ray Dalio are two names to follow. Both have been investing for decades, and each has amassed a multibillion-dollar personal fortune. The thing is, Buffett and Dalio have fundamentally different investing styles. A high-level look at their differences can provide a new perspective on your own investing practice. You could also use the newfound knowledge to spark fun cocktail party debates among your investing friends.
Billionaire Trader Ken Griffin Navigates A Flock Of Black Swans (Forbes)
Ken Griffin is staring pensively out a wall of windows on the tenth floor of a Midtown Manhattan office building, one of three locations in New York City occupied by his $47 billion Chicago-based hedge fund, Citadel. It’s early March. Vladimir Putin’s mechanized assault on Ukraine has stalled; he’s now making veiled threats about nuclear strikes. From Griffin’s vantage point there’s no mushroom cloud on the horizon, but the prospect is deeply worrying to the financier.
Circling the Pershing Square (Quoted Data)
It’s that time of year where we see a flurry of annual and interim results hitting the market for companies whose reporting periods finish on 31 December. Even in a quiet year, it is quite possible for interesting stories to get lost in this first quarter deluge, but once you factor in the additional market noise that we have seen so far in 2022 (for example, from rising inflation and central banks’ moves to choke this off with interest rate rises; the war in Ukraine; rapidly rising power and energy costs, which are hitting everybody’s pockets), it’s easy for things to fall through the cracks, which brings me to Pershing Square Holdings (PSH).
Friday 4/1 Insider Buying Report: ANTX, DV (Nasdaq.com)
On Tuesday, An2 Therapeutics’ Director, Robin Shane Readnour, made a $2.30M buy of ANTX, purchasing 153,334 shares at a cost of $15.00 each. Readnour was up about 2.6% on the purchase at the high point of today’s trading session, with ANTX trading as high as $15.39 at last check today. An2 Therapeutics is trading up about 2% on the day Friday. This purchase marks the first one filed by Readnour in the past twelve months. And at DoubleVerify Holdings, there was insider buying on Wednesday, by Chief Executive Officer Mark Zagorski who bought 19,846 shares at a cost of $25.64 each, for a trade totaling $508,844. DoubleVerify Holdings is trading up about 5.7% on the day Friday. Zagorski was up about 5.5% on the purchase at the high point of today’s trading session, with DV trading as high as $27.05 at last check today.
Executives Sell Around $42M Of 5 Stocks (Benzinga)
Morningstar: The Trade: Morningstar, Inc. (NASDAQ: MORN) Executive Chairman Joseph Mansueto sold a total of 29,786 shares at an average price of $279.85. The insider received around $8.34 million from selling those shares. California Resources: The Trade: California Resources Corporation (NYSE: CRC) 10% owner Steven Tananbaum sold a total of 376,691 shares at an average price of $48.60. The insider received around $18.31 million from selling those shares.
