Hong Kong’s Tybourne to Shut $2.8 Billion Hedge Fund (Bloomberg)
Tybourne Capital Management is shutting its $2.8 billion hedge fund, retreating from bearish bets that have become increasingly difficult to make money from, said people with knowledge of the matter. The Hong Kong-based firm will shift focus to its long-only and private investment funds, said the people, asking not to be identified because the information is private. It plans to return money in the Tybourne Equity Master Fund to investors over the coming months and waive performance fees on it in the interim, the people said.
Meet Jim Mooney, the Most Powerful Man You Never Heard of at $31 Billion Baupost and Heir Apparent to the Value-Investing Titan Seth Klarman (Business Insider)
The billionaire Seth Klarman is the brains of the $31 billion Baupost, but Jim Mooney is the heart of the hedge fund – one of the largest and most respected in the world. Klarman is a near-mythical value-investing pioneer whose yearslong reputation as a stock-buying genius has helped keep investors loyal even as the once-lauded practice of buying undervalued stocks struggles to find its place in today’s frothy markets.
Anchorage Capital Is Closing $7.4 Billion Flagship Hedge Fund (The Wall Street Journal)
Anchorage Capital Group, one of the biggest hedge-fund investors in distressed debt, is closing its flagship fund after 18 years and returning the $7.4 billion it manages to clients, citing a market environment in which cheap money has helped keep stock and bond prices elevated while suppressing corporate defaults. The credit fund, Anchorage Capital Partners, is suspending clients’ ability to get their money back as it is wound down, the New York firm told clients in a letter Wednesday that was viewed by The Wall Street Journal.
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Bill Ackman’s SPARC Not Exactly Lighting A Fire Under SEC (Deal Breaker)
Bill Ackman and the Securities and Exchange Commission are in complete accord: Special-purpose acquisition companies are stupid. Ackman thinks he’s solved the problem by adding a letter to the acronym and inventing the SPARC—the special-purpose acquisition rights company. The SEC, already a bit wary of the SPARC concept and now very much ready to put an end to SPACs as we know them, isn’t so sure.
Hedge Funds Set to End 2021 with Inflows for First Time in Three Years (Reuters)
Dec 15 (Reuters) – Global hedge funds are poised to achieve positive inflows in 2021, for the first time in three years, data from Preqin shows, thanks to strong returns and an investor shift to alternative assets during a period of volatility and rising inflation.
Third Point’s VC Strategy (Institutional Investor)
The firm, which recently raised more money than it was anticipating for its first venture capital fund, has been on a private investment spree. Third Point has sharply ramped up its venture capital efforts.The hedge fund firm has already made 20 private investments this year, compared with just four in all of 2020. This is not surprising, given that in September, Third Point closed on its first venture capital fund, Third Point Venture Fund…
Russia, MENA, and India-Focused Hedge Funds Accelerate as Inflation Spikes (Hedge Week)
Strong gains in Emerging Markets (EM) hedge funds focused on India, Russia, and the Middle East continued to lead through Q3, navigating macroeconomic challenges of inflationary pressures, global supply chain constraints, and the emergence of the Omicron coronavirus variant, with performance topping EM regional equity markets and again being complemented by volatile cryptocurrencies. The HFRI Emerging Markets (Total) Index has returned +5.6 per cent YTD 2021 through November, led by the HFRI Emerging Markets: India Index, which has vaulted +35.0 percent YTD, while the HFRI Emerging Markets: Russia/Eastern Europe Index surged +22.7 percent, as reported by the latest HFR Asian Hedge Fund Industry Report and the HFR Emerging Markets Hedge Fund Industry Report.
Hedge Fund Industry Expected to Accelerate Out of the Pandemic (Opalesque)
The hedge fund industry is strategically poised to accelerate out of the pandemic, says a new report by AIMA and KPMG. Hedge funds have learned a lot about the capabilities of their people and their technologies, their relationship with investors, and have positioned themselves for future investment opportunities. These changes will have implications on the business operating model, the report says, but the industry is able to address these challenges. According to the report: half of the hedge funds started experimenting with private markets or other new products or strategies, – a third of hedge funds are growing the investor relations function, – nearly 80% of respondents are moving to some form of permanent hybrid working, although many have reservations about their new models.
The EC of Star Equity Holdings (NASDAQ: STRR) is Buying Shares (Analyst Ratings)
Yesterday, the EC of Star Equity Holdings (STRR), Jeffrey Eberwein, bought shares of STRR for $2.11M. Following this transaction Jeffrey Eberwein’s holding in the company was increased by 43.67% to a total of $5.45 million. Based on Star Equity Holdings’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $28.86 million and GAAP net loss of -$2,141,000.
Tuesday 12/14 Insider Buying Report: EVRG, AGLE (Nasdaq.com)
At Evergy, a filing with the SEC revealed that on Thursday, Director C. John Wilder purchased 13,530 shares of EVRG, for a cost of $66.77 each, for a total investment of $903,395. Wilder was up about 2.0% on the buy at the high point of today’s trading session, with EVRG trading as high as $68.13 in trading on Tuesday. Evergy is trading down about 0.7% on the day Tuesday. Before this latest buy, Wilder bought EVRG on 13 other occasions during the past twelve months, for a total cost of $134.52M at an average of $51.67 per share. And at Aeglea BioTherapeutics, there was insider buying on Monday, by Director Armen Shanafelt who bought 150,000 shares at a cost of $3.66 each, for a total investment of $549,692. Aeglea BioTherapeutics is trading up about 4.8% on the day Tuesday. Shanafelt was up about 11.3% on the buy at the high point of today’s trading session, with AGLE trading as high as $4.08 in trading on Tuesday.
Cloudflare Inc (NET) CEO & Chair of the Board Matthew Prince Sold $15.2 million of Shares (Guru Focus)
CEO & Chair of the Board of Cloudflare Inc, Matthew Prince, sold 104,770 shares of NET on 12/13/2021 at an average price of $145.05 a share. The total sale was $15.2 million.
CFTC Charges Puerto Rico Resident and His Firm for Misappropriation of Nonpublic Information and Fictitious Trading (HedgeCo.net)
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of Texas against Peter Miller, a resident of San Juan, Puerto Rico, and his firm Omerta Capital LLC. The complaint charges the defendants for receiving tipped confidential block trade order information belonging to an energy company from a trader at that company, and in turn trading on the basis of this information, including entering into non-arm’s length, fictitious block trades in natural gas futures on the basis of this information, in violation of the Commodity Exchange Act (CEA) and CFTC regulations.
