Stellus Capital Raises $950 Million for New Funds (The Wall Street Journal)
Stellus Capital Management has about $1.8 billion available to deploy following the closing of a new fund and the launch of a new private business-development company, the Houston-based direct lender said Thursday. Stellus raised about $725 million in equity for Stellus Credit Fund III LP and its related vehicles, the firm said. It also raised an anchor investment of $225 million for its first private BDC, a lender called Stellus Private Credit BDC.
Crypto Billionaire Novogratz Breaks Silence, Calls Luna ‘Big Idea That Failed’ (Bloomberg)
Mike Novogratz broke his silence on the TerraUSD meltdown, calling it a “big idea that failed” and warning that the tough environment for cryptocurrencies will continue. The founder of Galaxy Digital Holdings Ltd. and big backer of Terraform Labs, the company behind Terra and Luna, had gone silent for a week. Novogratz spent the time reflecting on the economy and his firm’s role in the crypto industry, he said in a statement on Wednesday.
Clearlake Capital Wraps Up Its Seventh Flagship Fund with $14.1bn (Opalesque)
Clearlake Capital Group, an investment firm that focuses on technology, industrials, and consumer industries, closed its seventh flagship private equity fund, Clearlake Capital Partners VII, at its hard cap of more than $14.1 billion, outpacing a $10 billion target. Clearlake’s latest fund is about twice as large as its predecessor, Clearlake Capital Partners VI, which closed in 2020 with more than $7 billion, said a press release from the investment firm focused on private equity and special situation transactions.
How Pantera Escaped UST Doom: Hedge Fund Sold 80% LUNA Holdings Before Terra Crash (International Business Times)
Pantera Capital, an American hedge fund that specializes in cryptocurrencies said it has not suffered losses in its investment in Terra. The firm sold 80% of its LUNA holdings before the devastating LUNA-UST crash last week and overall, made substantial gains from its investment. Pantera had invested in Terra at least two times in the past. The first time was in January 2021 when the largest crypto hedge fund in the world by assets under management (AUM) participated in a $25 million funding round, followed by its participation in a $150 million ecosystem funding round in July 2021.
Wednesday 5/18 Insider Buying Report: RILY, FTCI (Nasdaq.com)
At B. Riley Financial, a filing with the SEC revealed that on Friday, Chairman and Co-CEO Bryant R. Riley purchased 50,000 shares of RILY, for a cost of $48.30 each, for a total investment of $2.41M. So far Riley is in the green, up about 8.0% on their buy based on today’s trading high of $52.16. B. Riley Financial is trading down about 3.5% on the day Wednesday. Before this latest buy, Riley bought RILY at 14 other times during the past year, for a total cost of $37.33M at an average of $54.99 per share. And on Tuesday, Director Thurman J. Rodgers bought $1.23M worth of FTC Solar, buying 375,000 shares at a cost of $3.27 a piece. FTC Solar is trading up about 10% on the day Wednesday. So far Rodgers is in the green, up about 26.5% on their buy based on today’s trading high of $4.14.
Executives Buy Around $9M Of 4 Penny Stocks (Benzinga)
Lannett Company: The Trade: Lannett Company, Inc. (LCI) Director Patrick Lepore acquired a total of 50,000 shares at an average price of $0.54. To acquire these shares, it cost $27 thousand. Compass Therapeutics: The Trade: Compass Therapeutics, Inc. (CMPX) CEO Thomas J Schuetz acquired a total of 20,215 shares at an average price of $2.47. The insider spent around $49.93 thousand to buy those shares.
