Hedge Fund and Insider Trading News: Paul Marshall, Glenn Welling, Steve Cohen, D.E. Shaw, Brevan Howard Asset Management, 1life Healthcare Inc (ONEM), Heico Corp (HEI), and More

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Hedge Fund Founder Paul Marshall Calls Pro-Trump Rioter’s Death ‘Murder’, then Deletes Tweet (Financial News)
The co-founder and chairman of hedge fund giant Marshall Wace, Sir Paul Marshall, tweeted that the pro-Trump woman killed by authorities in Washington amounted to “cold-blooded murder” hours after a mob of thousands stormed the US Capitol. The 6 January storming of the building, which saw four people lose their lives, brought a temporary halt to the formal confirmation of the president’s election defeat.

Brevan Howard’s Main Hedge Fund Gains 27% in Best-Ever Year (Bloomberg)
Brevan Howard Asset Management has recorded its best year since the hedge fund firm began investing nearly two decades ago. The main fund at billionaire Alan Howard’s firm was up 27.4% last year, the most since 2003, according to an investor letter seen by Bloomberg. That compares with a 3.4% average return for macro hedge funds through November, according to data compiled by Bloomberg.

Back at the Family Table (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge funds are back on the agendas of family offices. According to a survey by BlackRock and London-based asset-raising business Juniper Place, “recent market turmoil and the expectations of sustained volatility in the medium term has re-invigorated hedge fund appeal” among family offices. In a survey completed by 185 family offices globally, 38 percent of respondents intend to increase their exposure to hedge funds going forward, while the remaining respondents plan to maintain their exposure at the current level. “Strong indication of a reversal of the negative sentiment that we have observed in recent years,” writes the global family office survey report put together by BlackRock and Juniper Place.

Countries with the Smallest Government Per Capita in the WorldCountries with the Smallest Government Per Capita in the World


Prominent Activist Investors Post Record 2020 Returns Despite Pandemic-Muted Activity (Reuters)
BOSTON (Reuters) – Some investors including William Ackman and Glenn Welling, who push corporations to perform better, posted record-breaking returns in 2020 when activist investors generally backed off demands during a year marked by wild and unexpected business conditions. Ackman’s publicly traded Pershing Square Holdings fund rose 70.2%, marking the best-ever return at his 16-year-old firm Pershing Square Capital Management and one of the best in the hedge fund industry. In 2019, the fund rose 58%, also a record.

Dan Loeb’s Third Point Tops the Market in 2020 After Big December (CNBC)
Hedge fund manager Dan Loeb rode a strong December to beat the broader market in 2020, according to data obtained by CNBC’s Leslie Picker. The veteran investor’s fund took a big hit during the first quarter as the market fell sharply, but it recovered to finish with a gain that was in-line with historical results.

Hedge-Fund Founder Charged in $1.6 Billion Cum-Ex Probe (Bloomberg)
Sanjay Shah, who founded a London hedge fund that specialized in controversial Cum-Ex trades, was charged by Danish prosecutors in a 9.6 billion-krone ($1.6 billion) tax-fraud probe, according to a person familiar with the case. Two British citizens, including one who lives in Dubai, were charged, the Danish State Prosecutor for Serious Economic and International Crime said Thursday in a statement. Shah, who lives in Dubai, is one of the two people targeted in the indictment, according to the person, who declined to be identified because the process is confidential.

Breacher Capital Management Ends 2020 Up More than 55% (Opalesque.com)
Emerging manager Breacher Capital Management ended 2020 on a high note. According to performance information for investors reviewed by Opalesque, the BCM Partners fund ended 2020 up 58.19%. The other two BCM strategies – the Enhanced and Core funds were up 36.85% and 12.00%, respectively. Breacher’s year was impressive overall. The strategies were initially featured in our Corona Fighters Series after managing successfully through the abrupt market plunge in March 2020. The strategies were developed by Art Holly, CIO and Portfolio Manager. Holly was previously with Man Group.

CTAs Rise to Best Monthly Gain in Five Years as Managed Futures Hedge Funds End 2020 in “Spectacular” Style (Hedge Week)
Trend-following hedge funds and managed futures strategies enjoyed a storming finish to what was ultimately a turbulent and unpredictable year for the sector, with Société Générale’s CTA indices ending 2020 in positive territory following strong December performances. SocGen’s main SG CTA Index notched up its best monthly return in more than five years, advancing 5.54 per cent in December. The gain put the index – a daily snapshot of a select pool of 20 of the largest managed futures strategies – up 3.12 per cent annually for 2020.

North American Buyout Funds Have Provided Returns in Excess of Public Equities (Preqin)
Most North America-focused buyout funds that Preqin tracks have continued to provide returns in excess of public equity markets. As Fig. 1 shows, the weighted average net IRR of buyout funds has also exceeded returns attainable through investing in the US mid-cap space. What is driving this outperformance, and how can we best measure it? Buyout funds have become an increasingly important part of institutional investors’ portfolios. This comes as allocators seek alternatives to actively managed public equity funds.

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