Hedge Fund Marshall Wace Pockets $11 million off Cyberpunk Game Debacle (Financial News)
Marshall Wace piled into a short bet in CD Projekt, the developer of the Cyberpunk 2077 video game that flopped when it debuted earlier this month. The London-based hedge fund built a short position representing about 0.51% of the Warsaw developer’s shares as of 11 December, when the stock was hovering at about 320.5 zloty, per a filing analysed by short-selling research firm Breakout Point. That bet, based on the stock’s intraday low on 18 December, would currently be valued at about 38.75m zloty, or about $10.7m.
Taconic Launches Another Drawdown Fund (Institutional Investor)
The event-driven firm has gotten about $1 billion in commitments for two new private-equity-style funds this year. Taconic Capital Advisors has launched its second credit-focused, private-equity-style fund of the year.The hedge fund firm earlier this month received $454 million in commitments for the Taconic European Credit Dislocation Fund III, according to a regulatory filing and a person familiar with the launch.
Hedge Fund Founders Face OSC Charges (Investment Executive)
The operators of a Toronto-based hedge fund, Yonge Street Capital LLC (YSC), are facing quasi-criminal charges from the Ontario Securities Commission (OSC). The regulator has brought charges against three men alleging that money raised by the hedge fund they established was diverted for other purposes and thereby harmed investors.
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Hedge Funds Finally Nose Past the S&P 500 (AI-CIO.com)
Hedge funds are finally edging past the S&P 500, a welcome plus for an asset class that has taken heat for underperforming in recent years amid the bull market. The hedge fund composite had a very good November and ended up gaining 13.27% for 2020, versus 12.1% for the benchmark stock index, according to Preqin research. What’s more, equity strategies, the class’ largest, did even better, up 14.49% for the year. Poorer showings in the past have sparked criticism because hedge funds’ relatively high fees didn’t deliver what a low-cost index fund did. Redemptions and fund closings have been rife, with even celebrated hedge operator John Paulson calling it quits in July.
Hedge Fund Sharks Are Heading for Bitcoin Whale Waters (Decrypt.co)
In brief: High risk hedge fund managers are heading for Bitcoin. The asset’s high volatility is particularly attractive to hedge funds. But quant hedge funds can bring systemic risk into Bitcoin’s fragile ecosystem. It was a bonanza of a day for crypto markets. While the surge that took Bitcoin and the broader markets into the stratosphere happened yesterday, the gains were all sustained.
Over 70 per cent of Hedge Fund Firms are Confident About Business Prospects in 2021, Says New AIMA HFCI Index (Hedge Week)
Over 70 per cent of hedge fund firms are positive about their business prospects for the coming year, according to AIMA’s new Hedge Fund Confidence Index (HFCI). The average measure for hedge fund firms globally is +14 on a scale of -50 to +50, while firms in the Americas – including Latin America – are the most confident recording a score of +20. By comparison, the average score for EMEA firms is +10, while APAC respondents indicated a confidence rating of +11.
Transocean’s $1.5 Billion Restructuring Survives Hedge-Fund Lawsuit (MarketScreener)
A federal judge upheld a $1.5 billion debt restructuring by offshore-drilling contractor Transocean Ltd., ruling against a hedge-fund bondholder that claimed it was treated unfairly as the company took steps to survive a turbulent oil market. Judge George B. Daniels of the U.S. District Court in New York rejected efforts by Whitebox Advisors LLC to call a debt default against Transocean during a painful period for deep-water drilling that has sent several peer companies to bankruptcy.
Napco Security Technologies Inc (NSSC) President, CEO and Secretary Richard Soloway Sold $55.2 million of Shares (Guru Focus)
President, CEO and Secretary of Napco Security Technologies Inc, Richard Soloway, sold 2,233,071 shares of NSSC on 12/15/2020 at an average price of $24.7 a share. The total sale was $55.2 million. NAPCO Security Technologies Inc is engaged in manufacturing of security products, encompassing access control systems, door security products, intrusion and fire alarm systems and video surveillance products.
What Did This CEO Just Do with Personal Shares of Rayonier (NYSE: RYN)? (Analyst Ratings)
Yesterday, the CEO of Rayonier (RYN), David Nunes, sold shares of RYN for $228.8K. Following David Nunes’ last RYN Sell transaction on June 15, 2020, the stock climbed by 7.1%. This is Nunes’ first Sell trade following 5 Buy transactions.
Zoominfo Technologies Inc (ZI) CEO Henry Schuck Sold $16.6 million of Shares (Guru Focus)
CEO of Zoominfo Technologies Inc, Henry Schuck, sold 400,000 shares of ZI on 12/15/2020 at an average price of $41.41 a share. The total sale was $16.6 million. ZoomInfo Technologies Inc has a market cap of $16.9 billion; its shares were traded at around $43.400000 with and P/S ratio of 21.22.
