Hedge Fund and Insider Trading News: Ken Griffin, Engine No. 1, Viking Global Investors, DNB Asset Management, Semrush Holdings Inc (SEMR), CES Energy Solutions Corp (CESDF), and More

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Viking Joins the Private Equity Party (Institutional Investor)
Here’s where the Tiger Cub sees a big opportunity these days. Viking Global Investors is the latest hedge fund firm to launch a private equity fund. The Tiger Cub headed by O. Andreas Halvorsen raised $1.5 billion for Viking Global Opportunities Drawdown (Onshore) and an offshore equivalent, according to an investor.

Upstart Activist Engine No. 1 Takes Stake in GM, Supports EV Transition Plan (CNBC)
Engine No. 1, the firm that rose to prominence after waging a successful campaign against Exxon, announced Monday an investment in General Motors. This time, the upstart activist’s stake signals support for the automaker as it transitions to electric vehicles. Engine No. 1 pointed to the similarities between Exxon and GM, noting that each company is in an industry undergoing a transformation. But unlike Exxon, GM is taking actionable steps in what the firm believes is an imperative for long-term success: linking ESG criteria to economic outcomes.

AIMA Sentiment Index: Hedge Funds Remain Upbeat Heading into Final Quarter (Hedge Week)
Hedge funds’ confidence continues to rise, with managers across the UK, Europe and Asia all bullish on their business prospects heading into the final quarter of the year, a key industry sentiment index shows. The latest Hedge Fund Confidence Index (HFCI) – published jointly by the Alternative Investment Management Association, Simmons & Simmons and Seward & Kissel – found almost all hedge funds surveyed expressed confidence in the economic prospects for their businesses over the next 12 months.

Billionaire Ken Griffin’s Flagship Fund Outperformed in September as Citadel Beat Out Rivals (Business Insider)
Ken Griffin‘s $38 billion hedge-fund machine went into overdrive last month. The billionaire’s flagship fund Wellington returned 7.8% for the month, sources tell Insider, outpacing its main rivals in multi-strategy investing, where hedge funds rely on dozens of teams to invest across asset classes. The big month brought the firm’s year-to-date returns to 18.5%, besting competitors like Point72 and Millennium, which were also up but not to the same extent.

Hedge Fund Confidence Grows Globally (Opalesque)
Almost all (99%) of all hedge funds that participated in the Alternative Investment Management Association’s (AIMA) Global Hedge Fund Confidence Index are confident in the economic prospects of their business over the coming 12 months. According to the Index, managers’ belief in their prospects continues to grow, up to a score of +20.4 9 on a -50 to +50 scale), an increase on the second-quarter results. On a regional basis, three out of the four regions posted higher confidence levels than in Q2. The exception is North America where confidence numbers on average fell by approximately two points to +20.4.

Hjertø to Head DNB’s Insurance Arm (Hedge Nordic)
Stockholm (HedgeNordic) – Anette Hjertø, Head of Absolute Return Investments at DNB Asset Management, has been appointed as the chief investment officer of DNB’s insurance arm, DNB Livsforsikring. Anette Hjertø joined DNB Asset Management in February 2017 as a portfolio manager in the tactical asset allocation team. She was appointed as the asset manager’s Head of Absolute Return Investments two years ago. Hjertø was part of a three-member team responsible for running DNB’s multi-asset, multi-strategy fund DNB Fund Multi Asset. The team, currently comprised of Kim Stefan Anderson and Lena Öberg, is responsible for top-down risk management and allocation across different strategies managed in-house by different investment teams within DNB Asset Management.

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