Investment Giant Brookfield is Shuttering Its $1 Billion Multi-Strategy Hedge Fund (Business Insider)
Canadian asset management behemoth Brookfield Corporation is shutting down its multi-strategy hedge fund Brookfield Hedge Solutions Advisors. BHS Advisors, a multi-strategy hedge fund platform within the $825 billion conglomerate, is winding down after four years, according to people familiar with the matter. It had 66 employees — including 38 investment professionals — and managed $1.3 billion in assets, according to a March securities filing.
Hedge Fund Returns Are Generally Improved In 2023 As Equities Funds Lead The Way (Forbes)
Hedge funds are having a much better year in 2023 than many did last year, although the size of returns varies significantly based on who’s doing the measuring. For example, hedge funds administered by Citco generated an overall weighted-average return of 2.77% for the second quarter, bringing their year-to-date return to 8.04%. However, the PivotalPath Composite Index is up only 3.5% year to date after a June return of 1.6%. Equity hedge funds have been leading the way in both hedge fund indices this year, although larger funds have dominated Citco’s returns while PivotalPath reported mixed returns based on size.
Hedge Fund Manager Explains How Bitcoin Could Reach $300K (CoinDesk)
Morgan Creek Capital CEO and CIO Mark Yusko discusses his crypto markets analysis as bitcoin (BTC) and most other major cryptocurrencies shrug off the 25-basis-point interest rate hike by the U.S. Federal Reserve. Plus, how BTC could reach $300,000.
Wednesday 7/26 Insider Buying Report: RILY, BRTX (Nasdaq.com)
At B. Riley Financial, a filing with the SEC revealed that on Tuesday, Director Randall E. Paulson purchased 5,000 shares of RILY, at a cost of $55.00 each, for a total investment of $275,000. B. Riley Financial is trading down about 0.5% on the day Wednesday. Before this latest buy, Paulson purchased RILY at 8 other times during the past twelve months, for a total cost of $3.85M at an average of $42.34 per share. And at BioRestorative Therapies, there was insider buying on Tuesday, by President, CEO, COB Lance Alstodt who bought 4,200 shares for a cost of $2.44 each, for a trade totaling $10,248. Before this latest buy, Alstodt bought BRTX at 9 other times during the past year, for a total investment of $13,761 at an average of $2.99 per share. BioRestorative Therapies is trading up about 8.2% on the day Wednesday. So far Alstodt is in the green, up about 8.6% on their buy based on today’s trading high of $2.65.
$1M Bet On Verrica Pharmaceuticals? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Verrica Pharmaceuticals: The Trade: Verrica Pharmaceuticals Inc. (VRCA) Director Paul Manning acquired a total of 200,000 shares an average price of $5.02. To acquire these shares, it cost around $1 million. FB Financial: The Trade: FB Financial Corporation (FBK) 10% owner James Ayers acquired a total of 12,000 shares at an average price of $32.80. To acquire these shares, it cost around $393,600.
