How SkyBridge founder Anthony Scaramucci is Navigating the World Between Traditional and Digital Assets — Plus his Favorite Coins and Hedge Funds for the Tough Market Environment (Business Insider)
SkyBridge has pivoted heavily into crypto from its traditional hedge fund of funds business. Anthony Scaramucci‘s plan is to incrementally add more cryptos as they raise capital. Cryptos in the Coin Fund include algorand (ALGO), solana (SOL), and polygon (MATIC). Cryptocurrencies may be in a bear market, but it hasn’t stopped the sector from going mainstream. What was once considered magic internet money is now making its way into the hands of institutional investors.
The 2022 Preqin Service Providers Report (Preqin)
Tight market conditions in 2022 mean that GPs will look to cut costs and LPs to reduce expenses, placing additional pressure on service providers to meet client demands efficiently. Those happy with their service providers are likely to retain them, but with continued consolidation in each of the major service provider categories, fund managers will look to those best able to adapt and evolve. The growing number of funds in markets presents opportunities for placement agents, auditors administrators, and legal teams, which will increasingly be required to facilitate key functions.
Clearlake Capital Raises more than $2.5bn for Third Opportunities Fund (Opalesque.com)
Clearlake Capital Group, an investment management and private equity firm, has closed its third opportunities fund at more than $2.5 billion, beating its $1.5 billion target. Clearlake Opportunities Partners III (COP III) will make non-control special situations investments in the technology, industrial, and consumer sectors, said a press release from the investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies.
Wednesday 9/21 Insider Buying Report: GBIO, PED (Nasdaq.com)
On Friday, Generation Bio’s, Charles A. Rowland Jr., made a $276,241 purchase of GBIO, buying 50,628 shares at a cost of $5.46 each. Investors are able to buy GBIO at a price even lower than Rowland Jr. did, with the stock trading as low as $5.13 at last check today which is 6.0% below Rowland Jr.’s purchase price. Generation Bio is trading up about 1.9% on the day Wednesday. Before this latest buy, Rowland Jr. made one other buy in the past year, purchasing $127,404 shares at a cost of $5.22 each. And at PEDEVCO, there was insider buying on Tuesday, by Chief Executive Officer Simon G. Kukes who purchased 202,619 shares for a cost of $1.30 each, for a trade totaling $263,995. Before this latest buy, Kukes bought PED on 7 other occasions during the past twelve months, for a total cost of $1.23M at an average of $1.19 per share. PEDEVCO is trading up about 1% on the day Wednesday. Bargain hunters can pick up PED even cheaper than Kukes did, with the stock trading as low as $1.03 at last check today — that’s 20.9% under Kukes’s purchase price.
$35 Million Bet On This Penny Stock? Check Out These 3 Stocks Under $4 Insiders Are Buying (Benzinga)
Larimar Therapeutics: The Trade: Larimar Therapeutics, Inc. LRMR 10% owner Deerfield Private Design Fund IV, L.P. bought a total of 11,111,108 shares at an average price of $3.15. To acquire these shares, it cost around $35 million. PEDEVCO: The Trade: PEDEVCO Corp: 10% owner SK Energy LLC acquired a total of 202,619 shares at an average price of $1.30. The insider spent around $264 thousand to buy those shares.
