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Hedge Fund and Insider Trading News: Nelson Peltz, Aurelius Capital Management, PQ Group Holdings Inc (PQG), Omega Healthcare Investors Inc (OHI), and More

Neiman Marcus, in Debt Talks, Makes It Easier to Bet It Will Fail (The Wall Street Journal)
Aurelius Capital Management, a distressed-debt hedge fund that made successful bets against Puerto Rico and Argentina, has a new target: the struggling luxury retailer Neiman Marcus. The hedge fund, which is run by bankruptcy lawyer Mark Brodsky, pushed Neiman Marcus Group Ltd. to add language to its bond documents that would make it easier to profit on bets against the retailer, especially if the company defaults or files for bankruptcy, according to people familiar with the matter.

Hong Kong Billionaire Believed In Magic, With Predictable Results (DealBreaker)
When sailing the seven seas aboard his yacht, Sea Force One, GLG Partners co-founder Raffaele Costa prefers to be called by his self-applied nom de mer, “Captain Magic.” But his claims to supernatural abilities did not stop when his 177-foot pleasure boat pulls in to dock. No: Turns out he believes his Tyndaris Investments’ artificially-intelligent algorithmic-trading system works wonders, as well. Or, at least that’s what he allegedly told Samarthur Li Kin-kan.

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Hedge Fund Launches and Closures Hit Multi-Year Lows (HedgeNordic)
Stockholm (HedgeNordic) – New hedge fund launches slipped to an 18-year low last year, but closures hit a multi-year low too. According to data provider Hedge Fund Research (HFR), an estimated 561 hedge funds launched globally last year, whereas 659 funds closed their doors during the year. Last year’s number of hedge fund debuts was the lowest figure since 2000 when less than 400 funds opened up. Hedge fund closures, meanwhile, peaked in 2008 when close to 1,500 funds shut their doors. The number of closures for 2018 was the lowest annual figure since 2007 when less than 600 funds closed.

Hedge Fund Spurns Saudi Arabia’s $300 Million After Khashoggi Murder (Bloomberg)
A hedge fund has told investors it returned money to Saudi Arabia following the murder of columnist Jamal Khashoggi, according to people with knowledge of the matter. The move is a rare rebuke to one of the world’s most influential investors. Pharo Management (UK) LLP in December gave back about $300 million that it had previously managed for the kingdom’s central bank Saudi Arabian Monetary Authority, known as SAMA, one of the people said, asking not to be identified because the information is confidential.

How The Son Of A Hedgefund Billionaire Plans To Cure FOMO With An App (Forbes)
Diesel Peltz, 25, son of hedge fund billionaire Nelson Peltz, is on a mission to cure FOMO with Twenty, an app that encourages offline interactions in the real world. Launched on Tuesday, Twenty, formerly known as InSite, seeks to relieve users sense of FOMO by alerting them to the location of their friends, who have to varying degrees disclosed their location, in hopes that offline plans to meet up, or “Hangouts” can be set.

Key Employee Exits as John Burbank’s Passport Capital Attempts to Execute Its Complicated Bet on Crypto (TheBlockCrypto)
A well-known cryptocurrency employee of John Burbank’s Passport Capital has left the firm as it looks to execute its complicated strategy in the digital currency market, sources familiar with the situation tell The Block. Burbank’s Passport Capital rocketed to stardom after it made a big bet against the subprime mortgage market prior to the 2008 financial crisis.

From Azim Premji to Carlos Slim: The World’s Most Generous Billionaires Outside Of The U.S. (Forbes)
Last October, Forbes tracked the biggest billionaire philanthropists in the U.S. and ranked their efforts with a new philanthropy score. Bill Gates and Warren Buffett, cofounders of the Giving Pledge, led our list with $35.8 billion and $35.1 billion, respectively, in lifetime donations. George Soros was third, with $32 billion.

A Director at Omega Healthcare (NYSE: OHI) is Selling Shares (AnalystRatings)
Today, a Director at Omega Healthcare (OHI), Ben Perks, sold shares of OHI for $112.9K. This is Perks’ first transaction since reporting a Sell transaction on NCI back in June 2007 In addition to Ben Perks, one other OHI executive reported Sell trades in the last month. OHI’s market cap is $7.55B and the company has a P/E ratio of 27.77. Currently, Omega Healthcare has an average volume of 341.4K.

Ex-McKinsey Chief Gupta Says He was in Solitary for Weeks in U.S. Jail (Reuters)
NEW DELHI (Reuters) – Rajat Gupta, one of the most prominent members of the global financial elite until he was convicted of insider trading in 2012, has revealed he was kept in solitary confinement for weeks during his incarceration in an American federal prison. Gupta, who ran the global management consultants McKinsey for nine years and was on the board of investment bank Goldman Sachs, said he was twice placed in a “special housing unit” – a euphemism for solitary confinement – at the Devens Correctional Facility in Ayer, Massachusetts.

Tuesday 3/26 Insider Buying Report: PQG, CLDR (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. On Friday, PQ Group Holdings’s Director, Jonny Ginns, made a $199,925 purchase of PQG, buying 13,112 shares at a cost of $15.25 each. PQ Group Holdings is trading up about 1.7% on the day Tuesday. And at Cloudera, there was insider buying on Thursday, by Director Michael A. Stankey who bought 10,000 shares for a cost of $11.55 each, for a trade totaling $115,500. Before this latest buy, Stankey made one other buy in the past year, purchasing $324,848 shares at a cost of $12.99 a piece.

Insider Trading: FCA Acts on ‘Minute’ Fraction of Tip-offs, City Firm Finds (Lawgazette.co.uk)
The Financial Conduct Authority (FCA) has received more than 5,000 tip-offs alleging suspected insider trading but has opened just a tiny fraction of that number for investigations, a white-collar defence firm has said. According to a freedom of information (FoI) request filed by international firm Greenberg Traurig, the FCA received 5,107 tip-offs in 2018. However, between 1 April 2018 and 4 March 2019 it opened 61 investigations. The tip-offs alleged suspected insider dealing and were made under the Suspicious Transaction and Order Report regime (STOR). A similar pattern occurred for the preceding two years, the firm said. The response also confirms that since 1 April 2014, the FCA has commenced nine prosecutions for insider dealing, resulting in six convictions.

Dollar General Corp. (NYSE:DG) Insider Trading Activity – EVP Sold 78,987 shares of Stock (MarketExclusive)
Insider Trading Activity For Dollar General Corp. (NYSE:DG): Robert D Ravener , EVP of Dollar General Corp. (NYSE:DG) reportedly Sold 78,987 shares of the company’s stock at an average price of 117.78 for a total transaction amount of $9,303,088.86.

Insider trading: March 26, 2019 (BIV)
The following is a list of stock trades made by corporate executives, directors and other company insiders of B.C.’s public companies filed in the week ended March 20, 2019. The information comes from a compilation of required reports filed with the BC Securities Commission obtained from DisclosureNet.com. Insider Don Lay, 10% owner. Company: Medallion Resources Ltd. (TSX-V:MDL). Shares owned: 215,678. Trade date: March 15. Trade total: $298,500. Trade: Sale of 3,185,000 shares at prices ranging between $0.09 and $0.10 per share.

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