Hedge Fund and Insider Trading News: Ray Dalio, Balyasny Asset Management, Asia Research and Capital Management, Alcur Select, Lam Research Corporation (LRCX), Enghouse Systems Limited (EGHSF), and More

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Bridgewater’s Ray Dalio Pledges $50 million for New Health Justice Initiative (CNBC)
Bridgewater Associates founder Ray Dalio is giving $50 million to NewYork-Presbyterian to fight health inequality at a time when the coronavirus pandemic has laid bare the disproportionate access to health care in the U.S. The grant, which is from Dalio Philanthropies, will establish the Dalio Center for Health Justice. The center will “address health disparities and health justice through research, education, advocacy and investment in communities,” a statement said. Other initiatives include tackling unconscious bias in medicine, including when it comes to clinical trials.

Markets Expect Only a Partially Effective Vaccine, Balyasny Says (Bloomberg)
Stock markets expect a Covid-19 vaccine to be approved this year that is only 50% to 60% effective, leaving room for some unloved equities to rally if the shot turns out to be more protective, according to Balyasny Asset Management’s Dmitry Balyasny. Balyasny, co-founder of the Chicago-based hedge fund, said faster and more effective medical progress could bring buyers back to beaten down shares. Such stocks have been overshadowed by the climb in megacap technology equities that benefited from social distancing.

Hedge Fund Industry Down 0.65 per cent in September, Says Backstop BarclayHedge (Hedge Week)
After five straight months in the black, hedge funds posted a negative number in September losing 0.65 per cent for the month, according to the Barclay Hedge Fund Index, compiled by BarclayHedge, a division of Backstop Solutions. The hedge fund industry outperformed the S&P 500 Total Return Index, which was down 3.80 per cent in September. For the year-to-date, the hedge fund industry remained in positive territory, up 1.70 per cent through September. The S&P 500 Total Return Index was up 5.57 per cent over the same period.

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Alcur Select Reaches Optimal Size (Hedge Nordic)
Stockholm (HedgeNordic) – Some hedge funds may find capital raising more challenging amid a pandemic, but many strong-performing hedge funds are closing their doors to new investments after reaching their optimal asset size. Instead of continuously looking to scale its size, Stockholm-based Alcur Fonder has decided to close its younger, long-biased small-cap-focused equity hedge fund – Alcur Select – for the subscription of new fund units beyond 2020. Alcur Fonder has previously set an asset size limit of SEK 2 billion for Alcur Select. “As the capital limit has now been reached, the company’s CEO has, in accordance with the Board’s instructions, decided to close the fund for new subscriptions from the turn of the year,” says a letter by Alcur Fonder’s CEO, Niclas Röken. “Anyone who wants to subscribe for units in the fund before it closes for new subscriptions can do so on the last day of October, November or December.”

Competition for Deals Is Heating up in the Sports Industry (Preqin.com)
In August, Dorilton Capital made a historic foray into the world of Formula One. The New York-based private equity firm purchased multiple Championship-winning outfit Williams Grand Prix Engineering Limited from Williams Grand Prix Holdings PLC for approximately $180mn, ending 43 years of control by the Williams family. While private equity firms’ interest in professional sports is not new, investor appetite is rising. Previous investments continue to bear fruit, with rumors of funds taking stakes in teams, competitions, and leagues regularly circling the media.

Howard Marks Says the Current Market Offers the ‘Lowest Prospective Returns in History’ (CNBC)
After scoring gains during the nearly seven-month stock rally, investor Howard Marks doesn’t like what he sees ahead. In fact, the head of Oaktree Capital Management said that a slew of factors are conspiring to create as bad of an outlook for making serious gains as he’s ever seen.

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