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.
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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.
Hedge Funds Bet on Flatter Yield Curve During Fed’s Hawkish Week (Bloomberg)
Hedge funds boosted their bets on a flatter U.S. Treasury curve even after a hawkish turn by the Federal Reserve last month pushed yields the other way. Traders of U.S. bonds have been skeptical of bets on a steeper yield curve, which would be a sign of further normalization of the U.S. economy and its financial markets. A growing wall of worry including slowing economic growth, elevated inflation, supply-chain bottlenecks and the U.S. debt ceiling is weighing on investor minds despite the ongoing recovery from the pandemic.
The President & Chief Executive Officer of CES Energy Solutions (Other OTC: CESDF) is Selling Shares (Analyst Ratings)
Today, the President & Chief Executive Officer of CES Energy Solutions (CESDF), Thomas James Simons, sold shares of CESDF for $1.76M. In addition to Thomas James Simons, one other CESDF executive reported Sell trades in the last month. Based on CES Energy Solutions’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $254 million and quarterly net profit of $6.67 million.
Insider Trading: October 4, 2021 (BIV.com)
Insider Donald Eugene Demens, officer. Company: Western Forest Products Inc. (TSX:WEF). Shares owned: 1,193,611. Trade date: Sept 17. Trade total: $262,900. Trade: Sale of 130,000 shares at prices from $2.01 to $2.04 per share. Insider Nicholas Steinsberger, officer. Company: Reconnaissance Energy Africa Ltd. (TSX-V:RECO). Shares owned: 450,000. Trade date: Sept 17 Trade total: $ 481,060. Trade: Sale of 71,800 shares at a price of $6.70 per share.
Chief Revenue Officer Of Semrush Hldgs Trades $3.6M In Company Stock (Benzinga)
Delbert Humenik, Chief Revenue Officer at Semrush Hldgs (NYSE:SEMR), made a large buy and sell of company shares on September 30, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Delbert Humenik exercised options to purchase 150,000 Semrush Hldgs shares for $0 on September 30. They then sold their shares on succeeding transactions in the open market. They sold at prices ranging from $22.79 to $27.39 to raise a total of $3,605,927 from the stock sale.
Warby Parker Inc (WRBY) CFO Steven Clive Miller Sold $8.3 million of Shares (Guru Focus)
CFO of Warby Parker Inc, Steven Clive Miller, sold 155,088 shares of WRBY on 09/29/2021 at an average price of $53.69 a share. The total sale was $8.3 million.
