Hedge Fund and Insider Trading News: Maso Capital, Engine Capital, Cinctive Capital Management, Millennium Management, Third Point LLC, Elliott Advisors, Arbutus Biopharma Corp (ABUS), Opendoor Technologies Inc (OPEN), and More

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Risks and Rewards: How Maso Capital’s Pioneering Asia-Pacific Event Driven Focus is Paying Off (Hedge Week)
Maso Capital, an event driven and convertible arbitrage-focused hedge fund based in Hong Kong, was established in 2012 by Manoj Jain and Sohit Khurana, who previously managed money for Och-Ziff’s Asia-focused strategies. Along with merger and convertible arb strategies, the firm – which now has more than USD500 million in assets under management – has more recently built a burgeoning presence in the growing market for Special Purpose Acquisition Companies, or SPACs, in the Asia-Pacific region.

Kohl’s Urged to Consider Sale by Activist Investor (The Wall Street Journal)
Activist Engine Capital sends letter also pressing department-store chain to consider a separation of its e-commerce business. An activist investor is urging department-store chain Kohl’s Corp. to consider a sale of the company or a separation of its e-commerce business. New York-based hedge fund Engine Capital LP wants the retailer to examine the two alternatives to improve its lagging stock price, according to a letter sent to Kohl’s board Sunday. Engine owns a roughly 1% Kohl’s stake.

Hedge Fund Cinctive Sees Potential Bargains as Volatility Roils Markets (Reuters)
BOSTON, Dec 6 (Reuters) – Cinctive, a hedge fund that nearly tripled assets since its 2019 launch, is looking to capitalize on the market volatility stirred up by the Omicron variant of the coronavirus and worries over a hawkish shift from the Federal Reserve. Among the areas the fund believes are attractive are financial companies, which should benefit from rising interest rates, according to people familiar with the firm’s thinking.

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Steve Cohen-Backed Start-Up Bets on 24-hour Trading so Investors Can React Instantly to Tweets (CNBC)
Hedge-fund billionaire and NY Mets owner Steve Cohen has invested in a crypto start-up that aims to launch a stock exchange with 24-hour trading. Cohen’s venture-capital fund Point72 Ventures is leading a $14 million funding round for 24 Exchange, a Bermuda-based crypto and foreign exchange trading platform that wants to bring the non-stop trading of the digital currency world to the stock market.

Millennium, Citadel Winning the War to Keep Client Cash Longer (Bloomberg)
It’s a sellers’ market for some prominent hedge funds, and they’re using that advantage to keep client cash locked up for longer. Izzy Englander’s $57 billion Millennium Management told investors last month that it had raised a record $10 billion for a fund that takes a minimum of five years to exit. At least four other large multi-manager funds have changed their terms or started new share classes this year, all extending the time it takes for investors to get out.






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