Hedge Fund and Insider Trading News: Ray Dalio, Coatue Management, Schonfeld Strategic Advisors, Alden Global Capital, Effissimo Capital Management, Elliott Management, Algonquin Power & Utilities Corp (AQN), Opendoor Technologies Inc (OPEN), and More

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Billionaire Ray Dalio: ‘I Have Some Bitcoin’ (CNBC)
Though billionaire investor Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has previously expressed concern about the future of bitcoin, he has also noted that the cryptocurrency earned his respect. Now, he reveals, “I have some bitcoin,” Dalio told CoinDesk during its 2021 Consensus conference. The interview was recorded on May 6 and published Monday.

Elliott Takes Stake in Takeover Target UDG Healthcare (Bloomberg)
Activist investor Elliott Investment Management has built a position in UDG Healthcare Plc, which has drawn shareholder criticism over the terms of its proposed takeover by buyout firm Clayton Dubilier & Rice. The New York-based hedge fund, which is run by billionaire Paul Singer, disclosed in a regulatory filing Monday it owns a 3.1% stake in the company in derivatives and other options. It didn’t say in the filing what the nature of the investment was, or what changes it might be seeking.

In Taking on Toshiba, Secretive Hedge Fund Effissimo Ended Years of Silence (The Japan Times)
It was the rarest of public appearances. At Toshiba Corp.’s extraordinary general meeting in March, a lawyer, who didn’t give his name, talked for four minutes about why shareholders’ rights should never be infringed. He was speaking on behalf of Effissimo Capital Management Pte, a secretive hedge fund that had avoided the spotlight for almost 15 years. Now it was coming out into the open, if only slightly, to spearhead a campaign to bring change at the conglomerate — and, by extension, corporate Japan.

Former SAC Capital Portfolio Manager Tor Minesuk's Top 10 Stock Picks for 2021


Hedge Fund Alden’s Bid to Buy Tribune Publishing Newspaper Chain Approved by Shareholders (Chicago Tribune on MSN Money)
Tribune Publishing shareholders voted Friday to approve hedge fund Alden Global Capital’s $633 million purchase of the Chicago-based newspaper chain. The deal, which Tribune Publishing said is expected to close by Tuesday, will take the company private and add the Chicago Tribune and other major dailies to the Alden portfolio, making the New York-based hedge fund the second-largest newspaper owner in the U.S. behind Gannett.

$7.8 billion Schonfeld has Hired Former Citadel and Balyasny Macro Head Colin Lancaster and an 11-Person Team to Launch a New Division at the Hedge Fund (Business Insider)
Colin Lancaster is adding another big name to his resume. The former head of macro strategies at Citadel and Balyasny is starting a new macro investing division at Schonfeld Strategic Advisors, which was started by billionaire Steven Schonfeld. Lancaster and his team will be based across three different offices for Schonfeld in New York, Miami, and London, where Lancaster has spent the bulk of his career.

Coatue Leads $250 Million Funding for Solar Software Provider (Bloomberg)
Philippe Laffont’s Coatue Management led a $250 million funding round for software provider Aurora Solar in a bet on surging rooftop-panel installations. The funding values Aurora, whose platform helps solar companies design and sell systems for homes and businesses, at about $2 billion, the San Francisco-based tech firm said. Other investors included Iconiq Capital, Energize Ventures and Fifth Wall, according to a statement.

As Bitcoin and Ether Wobble, Hedge Funds Pledge More Capital to Crypto (Hedge Week)
As cryptocurrencies continue to experience violent price shocks, new industry research shows crypto hedge funds’ assets under management have almost doubled to some USD3.8 billion, with traditional managers increasingly eyeing the sector after returns soared in 2020. The third annual ‘Global Crypto Hedge Fund Report 2021’, published jointly by PwC, Elwood Asset Management and the Alternative Investment Management Association, shows crypto hedge fund AUM boomed from USD2 billion in 2019 to USD3.8 billion last year.

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