Western Areas Shareholder Says IGO Should Up Bid or Fold Wyloo Joint Venture (AFR.com)
London hedge fund Odey Asset Management reckons IGO’s joint venture with Andrew Forrest’s Wyloo Metals short-changes minority shareholders in IGO’s $1.07 billion bid for Western Areas. To recap, IGO and Wyloo struck a 70:30 joint venture to explore downstream nickel processing on February 17. In tandem, Wyloo (a 9.8 per cent shareholder at Western Areas, who investors had hoped would launch a competing bid) pledged support for IGO’s December bid.
Hedge Fund Managers Taking Bigger Steps into Cryptocurrency (CryptoNewsBTC)
One of many business’s largest hedge fund managers, Chicago-based Citadel Advisors LLC, which managed $47 billion as of March 31, is “not one of many corporations that could be dipping their toes into cryptocurrency,” stated Zia Ahmed, an organization spokesman, in an electronic mail. Nevertheless, the agency’s sister firm, market maker Citadel Securities LLC, will add cryptocurrency buying and selling, stated Kenneth C. Griffin, founder and CEO of Citadel, in a March 1 Bloomberg video interview.
Billionaire Investor Ray Dalio Predicts A New World Order: Our Top Pick (Seeking Alpha)
Ray Dalio – head of the world’s largest hedge fund – recently predicted that a new world order is coming. Along with predicting increasing confrontation and even conflict between the existing dominant power (the United States) and the rising great power (Communist China), his analysis concludes that we are in a period where burdensome sovereign debt, massive money printing, and large wealth gaps will likely become further exacerbated.
Pixabay/Public Domain
Scoop: Westbeck Fund Raises $10M as Oil Prices Surge (AXIOS)
Westbeck Capital Management raised just over $10 million in additional funding for its Energy Opportunity Fund, Megan reports. Why it’s the BFD: As global oil prices skyrocket, Westbeck needs to deepen its coffers to remain competitive. Context: Westbeck Capital Management is a London-based commodities-focused hedge fund managed by Jean-Louis Le Mee and William Smith. It launched its Energy Opportunity Fund with $100 million in 2016.
Coatue Hedge Fund Investors Seek to Redeem $250 Million, But Can’t Cash Out in Full (Bolly Inside)
Coatue Management investors are pulling $250 million from the company’s main hedge fund. Yet, they will not get all the cash they’re requesting. Assets put resources into privately owned businesses will be kept by Coatue and set in a side-pocket, as per individuals familiar with the matter. That adds up to 13% of the money being looked for by clients – – a total of $33 million. A representative for Philippe Laffont’s New York-based Coatue, which oversaw about $59 billion as of Dec. 31, declined to remark.
Managers Taking Bigger Steps into Crypto (Pensions&Investments)
Opportunistic hedge fund managers, especially those running relative-value, market-neutral and multistrategy funds, increasingly are investing relatively small percentages of their funds in cryptocurrencies — primarily via bitcoin and ether futures and options — to take advantage of arbitrage plays. Other managers — including Brevan Howard Asset Management LLP, London, and BKCoin Capital LP, Miami — that are running pure-play digital-coin hedge funds are seeing burgeoning interest from institutional investors, although consultants say the asset class may still be a little too lightly regulated for a full-scale move by retirement plans, endowments and foundations.
Hedge Funds Performed Well in February Despite Market Turmoil, Says PivotalPath (Hedge Week)
The PivotalPath Composite Index, a broad measure of overall hedge fund performance, was up 0.3 per cent in February, outperforming most major indices, according to data released by hedge fund research and intelligence specialist PivotalPath. The firm’s Dispersion Indicator meanwhile, decreased during the month to 3.8 per cent. The firm writes in its Pivotal Point of Viuerw for March 2022, that strategies able to capitalise on the ‘flattening yield curve rally in the energy complex and other factor trends’, include Global Macro, Managed Futures, and Equity Quant.
Jana Is Pushing Zendesk to Set Annual Meeting (Bloomberg Quint)
(Bloomberg) — Activist investor Jana Partners is calling on the board of Zendesk Inc. to set a date for its annual general meeting, arguing the company is intentionally dragging out the process to rob shareholders of their rights. The New York-based hedge fund, which own roughly a 2% stake in the company, has nominated four directors to Zendesk’s board. In a letter to the company Monday, Jana notes that Zendesk has held its annual general meeting between May 16 and May 29 since 2017. This meant that shareholders of record between March 20 and April 1 — known as the record date — were allowed to vote on shareholder proposals.
Monday 3/28 Insider Buying Report: ORIC, XAIR (Nasdaq.com)
At Oric Pharmaceuticals, a filing with the SEC revealed that on Friday, CEO Jacob Chacko bought 350,000 shares of ORIC, at a cost of $4.92 each, for a total investment of $1.72M. So far Chacko is in the green, up about 12.5% on their purchase based on today’s trading high of $5.54. Oric Pharmaceuticals is trading up about 16.7% on the day Monday. This purchase marks the first one filed by Chacko in the past year. And also on Friday, Director Robert Carey bought $173,872 worth of Beyond Air, buying 26,185 shares at a cost of $6.64 each. Before this latest buy, Carey purchased XAIR on 4 other occasions during the past twelve months, for a total cost of $412,250 at an average of $9.16 per share. Beyond Air is trading off about 1.6% on the day Monday.
Insider Trading: March 28, 2022 (BIV.com)
Insider Roland Wayne Butler, director. Company: Orogen Royalties Inc. (TSX-V:OGN). Shares owned: 2,400,000. Trade date: March 11. Trade total: $1,128,000. Trade: Acquisition of 2,400,000 shares at a price of $0.47 per share. Insider Justin Reed Himmelright, officer. Company: Skeena Resources Ltd. (TSX:SKE). Shares owned: 0. Trade date: March 11. Trade total: $487,600. Trade: Sale of 30,000 shares at prices from $16.20 to 16.29 per share.
