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Hedge Fund and Insider Trading News: Seth Klarman, Steve Cohen, Ken Griffin, Microsoft Corporation (MSFT), Khiron Life Sciences Corp (KHRNF), and More

Seth and Beth Klarman Increase their Support for Black Women’s Education (Pensions&Investments)
Hedge fund manager Seth A. Klarman and his wife, Beth Schultz Klarman, recently donated an additional $10 million to Atlanta-based Spelman College bringing their total support for the historically Black women’s private liberal arts institution to $16 million. The Klarmans have supported Spelman since 2015. Their most recent gift will provide scholarships that will help students “overcome the financial barriers that may prevent them from graduating,” the college said in a news release.

Source: Steve Cohen Negotiations with Mets Successful, Waiting for MLB Owner Approval (MSN)
Steve Cohen has checked almost all the boxes to take over the New York Mets, and his takeover of the club is happening sooner rather than later. A source has informed amNewYork Metro on Sunday evening that negotiations between Cohen and the Mets to purchase 80% of the team have been successful and is now just pending the approval of MLB team owners. “It’s happening,” the source added. There is already an expectation that Cohen will get the necessary backing from the other MLB owners to take over the Mets. He will need 23 votes from the remaining 29 team owners to get the green light.

State’ Richest Man Gives $20M to Anti-Tax Referendum Group (TheTelegraph.com)
SPRINGFIELD – Illinois’ wealthiest man and frequent Republican political donor Ken Griffin has pledged $20 million to a group dedicated to defeating a graduated tax constitutional amendment. Griffin, who is the founder of the hedge fund Citadel, has previously donated tens of millions of dollars to the campaign of Republican former Gov. Bruce Rauner. He’s also given millions to House and Senate Republican leadership in the state and donated to several individual lawmakers. Forbes estimates his net worth at $15 billion.

Covalis Capital's Returns, AUM and Holdings

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Why ESG Investment Needs to Embrace Technology (Preqin.com)
ESG investment in the private capital industry is becoming increasingly sophisticated – now firms need a scalable, ‘single-source’ solution. How has ESG investment changed in recent years? ESG investing has come a long way in the last five years. There has been a surge in the adoption of ESG strategies by fund managers globally – across both public and private markets. The rationale on the private capital side is threefold: first, there is a growing fiduciary and regulatory duty to meet the demands of institutional investors.

Opalesque Roundup: Hedge Funds’ AUM Rises to $3.58tn in Q2 2020: Hedge Fund News, Week 36 (Opalesque.com)
In the week ending September 4th 2020, hedge fund assets under management (AUM) have risen in the second quarter of 2020, said Preqin. In a Q1 2020 rocked by poor performance and significant investor redemptions, industry AUM dipped below $3.5tn for the first time since Q4 2018. Fast-forward three months and AUM have returned above this threshold to stand at $3.58tn, after a recovery in performance in Q2 (+11.48%) offset Q1’s net outflows. Meanwhile, Lyxor Peer Groups suggest hedge fund performance was up +0.5% in August, with CTAs underperforming (-1%) and Special Situations, Directional L/S Equity, Global Macro, and L/S Credit strategies outperforming (+0.6% to +1.6%).

Hedge Fund’s Buying Spree During Credit Slump Fuels 36% Return (Bloomberg)
Distressed-assets specialist Alp Ercil went on a billion-dollar buying spree in March and April, bargain-hunting amid the indiscriminate selloff in credit markets, a person familiar with the matter said. Ercil’s Hong Kong-based Asia Research & Capital Management Ltd. deployed almost 80% of the $1.6 billion raised for his latest fund in the two months, having sat on the sidelines for most of 2019 waiting for more attractive opportunities, the person said.