Turquoise Hill Says Odey’s Letter Contains False Assumptions (Reuters)
Nov 26 (Reuters) – Canadian miner Turquoise Hill Resources Ltd said on Thursday hedge fund Odey Asset Management’s letter to its majority owner Rio Tinto contained a number of false assumptions and misinformation about the company and its funding plan. “Odey has a clear financial motive to depress Turquoise Hill’s share price,” Turquoise Hill said.
Norway Wealth Fund CEO Tangen Tests Positive for Coronavirus (Bloomberg)
Nicolai Tangen, the chief executive officer of Norway’s $1.2 trillion sovereign wealth fund, has tested positive for the coronavirus. In an update on his LinkedIn page, the 54-year-old CEO said he took a test on Wednesday afternoon, “after feeling a bit under the weather, but my symptoms are mild.”
Inside the Rise of Billionaire Dan Sundheim: The LeBron James of Investing Whose Hedge Fund is Dominating 2020 (Business Insider)
The world has changed drastically in the two years since D1 Capital launched. And Dan Sundheim has made money through it all, thanks to a string of bets that have emerged as winners in the new normal. The Wharton grad now has at least $1 billion in personal wealth between his assets in his firm, stake in the NBA’s Charlotte Hornets, real-estate portfolio, and art collection. The former Viking Global Investors chief investment officer started trading at D1 in July 2018 with more than $5 billion – including more than $500 million of his own money – and hasn’t looked back.
Alcur Grow(s) (Hedge Nordic)
Stockholm (HedgeNordic) – Swedish asset manager Alcur Fonder is expanding its fund range with the upcoming launch of a long-only equity fund called Alcur Grow. Expected to launch at the beginning of next year, the fund will maintain a portfolio that contains between 25 to 30 Nordic small- and medium-sized public companies. Alcur Grow is regulated as a Swedish alternative investment fund but will not engage in short selling. The long-only equity fund can hold up to 30 percent of its portfolio in cash and can make use of leverage.
Aberdeen Standard Plans Hedge Fund Trackers with New Platform (Financial News)
Aberdeen Standard Investments has continued its push into the passive space, with the launch of a new platform that will allow it to launch products that track hedge fund benchmarks. The £456bn Edinburgh-headquartered fund manager has unveiled a new platform to launch funds that will track Hedge Fund Research’s flagship HFRI 500 index, which is comprised of 500 hedge funds. The first strategy is targeting an initial fundraising of $500m by May 2021 and will have capacity of more than $50bn.
How ESG Is Sweeping Private Equity Alongside Hedge Funds (Forbes)
There’s been a lot of talk about environmental, social and governance (ESG) issues dealing with hedge funds, but these topics are spilling over into private equity (PW) as well. PE has been hot in recent years, and the trends show no sign of it slowing down. Experts from the Apex Group explained some of the trends involving ESG and private equity.