Fund Managers and the Path Towards Net zero Emissions (Hedge Week)
By Juan Cruz, Founding Partner and CIO, Cygnus Asset Management – On the path towards a net zero emissions world, some sectors will multiply their activity (multiples), others will reduce it substantially (fractions), and others will disappear (zeros). How can hedge funds and other asset managers navigate the emerging investment opportunities? At the Paris Climate Change Summit in December 2015, 189 countries reached a binding international agreement on climate change, with the aim of “holding the increase in the global average temperature to well below 2C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5C above pre-industrial levels.”
Elliott Said to Push for Breakup of British Power Firm SSE (Bloomberg)
Billionaire Paul Singer’s Elliott Investment Management is pushing for a breakup of SSE Plc after building up a stake in the British power company, people with knowledge of the matter said. The activist hedge fund sees value in separating SSE’s renewable portfolio from its regulated electricity businesses, the people said, asking not be identified because the information is private. Elliott has been meeting privately with representatives from SSE, which is based in the central Scottish city of Perth, as well as some of its major shareholders, according to the people.
Hedge Fund Vet Dan Tapiero has Invested More than $650 Million into Crypto’s Largest Companies (The Block Crypto)
The number of crypto unicorns — those valued at above $1 billion — is growing at a breakneck clip, drawing the interest of investors like Dan Tapiero. Tapiero, a veteran of the macro trading world, launched 10T in 2019 as a vehicle for traditional investors to get exposure to equity in crypto firms with a valuation above $500 million. Such an investment might not provide the 100x return a venture capital investor might look for when flipping a token, but it is a less risky way for pension funds and endowments to get exposure to crypto’s upside.
Tuesday 9/14 Insider Buying Report: BANF, SUNL (Nasdaq.com)
At BancFirst, a filing with the SEC revealed that on Tuesday, Executive Vice President and Dennis L. Brand purchased 9,000 shares of BANF, at a cost of $54.31 each, for a total investment of $488,750. BancFirst is trading down about 1% on the day Tuesday. This purchase marks the first one filed by Brand in the past year. And at Sunlight Financial Holdings, there was insider buying on Monday, by CFO Barry Edinburg who bought 75,000 shares for a cost of $5.34 each, for a total investment of $400,875. This purchase marks the first one filed by Edinburg in the past year. Sunlight Financial Holdings is trading up about 2.8% on the day Tuesday.
The Subsidiary Chief Executive Officer of eXp World Holdings (NASDAQ: EXPI) is Selling Shares (Analyst Ratings)
Yesterday, the Subsidiary Chief Executive Officer of eXp World Holdings (EXPI), Jason Michael Gesing, sold shares of EXPI for $692.5K. In addition to Jason Michael Gesing, 7 other EXPI executives reported Sell trades in the last month. Following Jason Michael Gesing’s last EXPI Sell transaction on August 24, 2021, the stock climbed by 1.5%.
Notable Avalara Insider Trades $5.96 Million In Company Stock (Benzinga)
Scott Mcfarlane, Corporate Officer at Avalara (NYSE:AVLR), made a large buy and sell of company shares on September 10, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Scott Mcfarlane purchased 30,000 Avalara shares at a price of $13.84 per share for a total of $415,200 on September 10. They then sold their shares on the same day in the open market. They sold at prices ranging from $183.77 to $186.13 to raise a total of $5,546,231 from the stock sale.
