Market Turbulence Has Only Solidified Hedge Funds’ Favorite Research Providers (Institutional Investor)
Morgan Stanley repeats atop this year’s All-America Research Team: Hedge Fund Cut. The year 2022 has been a challenging one for most investors — “including hedge funds,” according to Marko Kolanovic, chief global market strategist and co-head of global research at JPMorgan Chase & Co. Throughout the last ten months, hedge fund managers have had to navigate high levels of volatility, as well as macroeconomic and geopolitical risks, Kolanovic said. “The most important one is the surge of inflation and related response of central banks and bond markets,” he added. “Also critically important was the geopolitical escalation in Europe and its impact on global growth and the commodity and bond markets.”
Carrara Capital Chooses SS&C for Inaugural Fund Launch (PRNewswire.com)
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Carrara Capital has appointed SS&C GlobeOp as its fund administrator for its recently-launched multi-strategy fund. Carrara Capital will use SS&C GlobeOp’s extensive suite of hedge fund services, including fund administration, investor services (including AML), Australia tax management and FATCA/CRS Reporting. SS&C’s local team will oversee services for the Carrara Global Opportunities Fund, which launched earlier this year. The fund aims to generate consistent risk-adjusted returns investing across currencies, fixed income, global equities, credit and private opportunities.
Nordic Capital Closes Europe’s Largest PE Fund This Year at $8.8bn Hard Cap (Opalesque.com)
Nordic Capital has closed Europe’s largest PE fund of the year on €9 billion ($8.8bn), beating its initial €8 billion target after just nine months on the road. With a 100% re-up rate, Nordic Capital Fund XI is over 45% bigger than its predecessor large-cap fund, which raised €6.1bn in October 2020. Fund XI attracted investors from across the globe, with investors from every continent including 34% from North America, 31% from Europe, 23% from Asia, 10% from the Middle East, and 1% from RoW. The investor base comprises a well-diversified mix of institutional investors: public and private pension funds (42%); sovereign wealth funds (23%); fund of funds (14%); endowments and family offices (11%) and financial institutions (10%).
Wednesday 10/26 Insider Buying Report: UNP, TCBI (Nasdaq.com)
On Monday, Union Pacific’s Director, Teresa Finley, made a $259,799 buy of UNP, purchasing 1,380 shares at a cost of $188.26 each. Finley was up about 5.1% on the purchase at the high point of today’s trading session, with UNP trading as high as $197.94 in trading on Wednesday. Union Pacific is trading up about 0.7% on the day Wednesday. This buy marks the first one filed by Finley in the past year. And also on Monday, Chief Risk Officer Timothy J. Storms purchased $251,724 worth of Texas Capital Bancshares, purchasing 4,400 shares at a cost of $57.21 a piece. Texas Capital Bancshares is trading up about 1.7% on the day Wednesday. So far Storms is in the green, up about 4.9% on their buy based on today’s trading high of $60.02.
$9 Million Bet On 89bio? 3 Stocks Insiders Are Buying (Benzinga)
89bio: The Trade: 89bio, Inc. ETNB Director Rajeev Shah acquired a total of 1,172,741 shares an average price of $7.65. To acquire these shares, it cost around $8.97 million. Tricida: The Trade: Tricida, Inc. TCDA 10% owner Nimish Shah acquired a total of 351,866 shares at an average price of $10.68. To acquire these shares, it cost around $3.76 million.
