Dutch Hedge Fund Exodus a Risk, Say Consultants (IPE.com)
Many pension funds in the Netherlands have eliminated their entire exposure to hedge funds in recent years, or are in the process of doing so. But because of the changes in the macro environment there are now more reasons than ever to invest in hedge funds, according to consultants. The high fees charged by hedge funds, despite relatively low returns, and a lack of transparency about the underlying strategies are cited most often by pension fund boards as reasons to exit the asset class.
Meet the Hedge Fund Boss Who Just Bought Tribune’s Newspapers (The Wall Street Journal)
Six weeks ago, it seemed as if hedge fund boss Heath Freeman was losing his grip on Tribune Publishing Co. But he never let go—and now he has his prize. Mr. Freeman, the president of Alden Global Capital LLC, is poised to become the leader of the second-largest U.S. newspaper company, following the firm’s takeover of Tribune. Shareholders voted Friday to approve a sale to Alden, which previously had a roughly 32% stake in the company.
Every Fifth Hedge Fund Already Invests in Cryptocurrencies, Reports PwC (Crypto Slate)
Around 21% of traditional hedge funds in the world have already invested in cryptocurrencies—while crypto-focused ones doubled their assets under management (AUM) over the course of 2020, says a new report by professional services network PricewaterhouseCoopers (PwC). “We estimate that the total assets under management (AuM) of crypto hedge funds globally increased to nearly US$3.8 billion in 2020 from US$2 billion the previous year. The percentage of crypto hedge funds with AuM over US$20 million increased in 2020 from 35% to 46%,” the firm noted.
Tuesday 5/25 Insider Buying Report: SPLP (Nasdaq.com)
At Steel Partners Holdings, there was insider buying on Friday, by Senior Vice President Gordon A. Walker who purchased 19,864 shares at a cost of $25.00 each, for a total investment of $496,615. This buy marks the first one filed by Walker in the past twelve months. Steel Partners Holdings LP is trading up about 1.9% on the day Tuesday. So far Walker is in the green, up about 9.4% on their buy based on today’s trading high of $27.36.
American Financial Group Inc (AFG) Co-CEO & Co-President Carl H Lindner Iii Sold $8.3 Million of Shares (Guru Focus)
CEO & Co-President of American Financial Group Inc, Carl H Lindner III, sold 63,240 shares of AFG on 05/21/2021 at an average price of $130.75 a share. The total sale was $8.3 million.
A Director at CyrusOne (NASDAQ: CONE) is Selling Shares (Analyst Ratings)
Yesterday, a Director at CyrusOne (CONE), David Ferdman, sold shares of CONE for $731.5K. Following David Ferdman’s last CONE Sell transaction on January 28, 2013, the stock climbed by 57.8%. Based on CyrusOne’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $299 million and quarterly net profit of $18.2 million.
