Ray Dalio’s Bridgewater Builds $5.7 Billion Bet Against European Stocks (Bloomberg)
Ray Dalio’s Bridgewater Associates has emerged as the biggest short seller of European stocks, wagering more than $5.7 billion against them in a bid to profit from a potential decline in value. The investment by the world’s biggest hedge fund firm includes a $1 billion position against semiconductor manufacturer ASML Holding NV and a short wager on TotalEnergies SE worth about $752 million, according to data compiled by Bloomberg based on regulatory filings. The firm has raised its short bets in the region this month to 18 companies.
Greenfield Partners Closes $350m in Investment Funds (Globes)
Israeli tech company investment fund Greenfield Partners has announced the final closing of new funds totaling $350 million. The new funds include Greenfield Partners Fund II, for investment in 15 early growth startups (rounds B and C), and several additional investment vehicles that will jointly enable investments of larger amounts and support Greenfield’s existing portfolio companies at later stages and for the long term. The new funds raised bring the total assets under management by Greenfield Partners to over $500 million.
Citron Research Targets Bitcoin, Ethereum, NFTs After Staying On Sidelines For 18 Months (Benzinga)
A well-known figure from the David vs. Goliath story involving video game retailer GameStop Corp (GME) that pitted retail traders against hedge funds and short-sellers has sights set on the cryptocurrency investors. What Happened: Hedge fund Citron Research, led by Andrew Left, has returned to the spotlight Wednesday using Twitter Inc (TWTR) to call out high valuations for the two largest cryptocurrencies.
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CTAs Starting Summer on a High Note (Hedge Nordic)
Stockholm (HedgeNordic) – After trends took a breather in May, Nordic trend-following CTAs are back at it again: back at successfully capturing trends. Four Nordic CTAs within the Nordic Hedge Index offering daily liquidity gained about eight percent on average in the first half of June, with Lynx Asset Management’s trend-following vehicle Lynx advancing 10.3 percent so far in June to take its year-to-date advance to over 42 percent.
How Tiger Global Outsourced Much of its Venture-Capital Strategy to Consulting Firm Bain — and Drew Scorn from VCs and Silicon Valley (Business Insider)
As Tiger Global Management plowed money into technology startups at an astonishing speed in 2021, the firm attracted envy, fear, and scorn from Silicon Valley. Tiger reeled in billions of dollars and outmaneuvered many venture-capital firms by moving quicker and promising a more hands-off approach to close deals. Critics were more than happy to point out that Tiger had gotten its start as a hedge fund and that large-scale startup investing was not its primary business.
