Hedge Fund Manager Robert Luciano Suffers $500m Drop in Wealth (AFR.com)
Sydney fund manager Robert Luciano has dropped more than half a billion dollars from his personal fortune in the past two years from the dwindling value of shares in his hedge fund, VGI Partners, which fell to a record low on Tuesday. The 41 million shares Mr Luciano owns in VGI, which listed on the sharemarket in 2019, are now worth $206.9 million, $523.9 million less than the $730.7 million two years ago when the share price reached a high.
Paul Tudor Jones Is Using Crypto to Hedge Against Inflation (Bloomberg)
Paul Tudor Jones is betting on crypto as a hedge against inflation, which he called “the single biggest threat to financial markets.” The billionaire founder of hedge fund Tudor Investment Corp. said that he prefers digital assets over traditional hedges like gold, and has “crypto in single digits in my portfolio.” “We’re moving into an increasing digitized world,” Tudor Jones said Wednesday in an interview on CNBC’s “Squawk Box.’’ “Clearly there’s a place for crypto, and clearly it’s winning the race against gold at the moment.”
New Mountain Capital closes Direct Lending Fund on $1.15 Billion (Opalesque)
New york-based New Mountain Capital has closed its latest direct lending fund on $1.15 billion – beating its target. New Mountain Guardian III BDC included a substantial investment from the general partner and employees of the firm. After leverage the fund will have approximately $2 billion to invest. New Mountain’s private credit strategy focuses on lending to the highest quality companies in select, non-cyclical defensive growth industries. The fund has already deployed more than $1.1 billion into 79 portfolio companies across industries including enterprise software, business services, healthcare services and healthcare technology.
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Preqin Alternative Assets in Asia-Pacific: South Korea (Preqin)
South Korea’s private equity industry has experienced accelerated growth, reaching a record total assets under management of $113bn as of December 2020, almost doubling in two years. While buyout strategies remain prominent, fundraising has increased for both buyout and venture capital strategies. More carve-out opportunities may be expected with upcoming reforms around chaebol governance. Korea also boasts a vibrant venture capital ecosystem, which has produced several unicorns in the technology space.
Bitcoin Hits All-Time High. Icahn Says It Might be Best Inflation Hedge (Proactive Investors)
Bitcoin climbed to a new high and is on its way to US$100,000 according to many commentators. The cryptocurrency rose by 5% to US$65,844, helped by the seemingly tacit acceptance from US regulators that bitcoin is high to stay. ProShares’s BITO Bitcoin futures exchange-traded fund (ETF) this week became the first of its kind to be approved by the US SEC.
Hedge Fund Billionaire Calls for Higher Capital Requirements for Fossil Fuel Financing (Euractiv.com)
Days before the Commission is expected to publish its proposal to change capital requirements rules, billionaire hedge fund manager Chris Hohn called for a stricter treatment of fossil fuel investments in banks’ balance sheets. His call is supported by activists and experts who fear the effects of climate change on financial stability. At the end of October, the European Commission is expected to present its proposal to adapt the capital requirements for European banks. The adaptation aims to make the EU banking sector comply with the international Basel III regulatory framework for the stability of the banking system.
Maples Group Expands Cayman Islands Funds & Investment Management Practice (Hedge Week)
Caroline Heal has joined Maples and Calder, the Maples Group’s law firm, as a Funds & Investment Management Partner in its Cayman Islands office. Heal brings extensive experience in the structuring, formation and operation of offshore hedge funds, private equity funds and investment fund platforms. She advises a wide range of asset managers and financial institutions and has been recognised for her expertise by The Legal 500. Heal will be an integral member of the firm’s top-tier Cayman Islands Funds & Investment Management team where she will also collaborate closely with lawyers and professionals across the firm’s global practices in the British Virgin Islands, Dubai, Ireland, London, Luxembourg, Jersey, Hong Kong and Singapore to service its multinational client base.
Helikon Hedge Fund Gains 24% With a Bet on Undervalued Equities (Bloomberg)
Helikon Investments, the hedge fund started last year by veterans from Julius Baer Group Ltd.’s Italian subsidiary, returned 24% through the first three quarters of 2021, by betting on overlooked and undervalued equities. The gains for the 1.17 billion-euro ($1.36 billion) Helikon Long Short Equity Fund follow last year’s 68% advance, disclosed in documents sent to investors and seen by Bloomberg.
Tuesday 10/19 Insider Buying Report: FAST, OMI (Nasdaq.com)
At Fastenal, a filing with the SEC revealed that on Friday, Director Sarah N. Nielsen purchased 1,000 shares of FAST, for a cost of $55.76 each, for a total investment of $55,760. Nielsen was up about 1.3% on the buy at the high point of today’s trading session, with FAST trading as high as $56.47 in trading on Tuesday. Fastenal is trading up about 1.4% on the day Tuesday. And also on Friday, Director Robert J. Henkel bought $33,330 worth of Owens & Minor, buying 1,000 shares at a cost of $33.33 each. Before this latest buy, Henkel bought OMI at 3 other times during the past twelve months, for a total investment of $97,110 at an average of $32.37 per share. Owens & Minor, is trading up about 2.5% on the day Tuesday.
The Chairman of Bannerman Resources (Other OTC: BNNLF) is Selling Shares (Analyst Ratings)
Today, the Chairman of Bannerman Resources (BNNLF), Ronald Ronnie Beevor, sold shares of BNNLF for $1.02M. This is Beevor’s first Sell trade following 3 Buy transactions. In addition to Ronald Ronnie Beevor, 2 other BNNLF executives reported Sell trades in the last month. Currently, Bannerman Resources has an average volume of 726.33K.
Chief Executive Officer Of Funko Trades $1.1M In Company Stock (Benzinga)
Brian Richard Mariotti, Chief Executive Officer at Funko (NASDAQ:FNKO), made a large buy and sell of company shares on October 15, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Brian Richard Mariotti exercised options to purchase 59,139 Funko shares for $0 on October 15. They then sold their shares on succeeding transactions in the open market. They sold at prices ranging from ($0.00) to $19.38 to raise a total of $1,146,068 from the stock sale.
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