Hedge Fund and Insider Trading News: Steve Cohen, Dan Loeb, Sachem Head Capital Management, AIM Capital, Lions Gate Entertainment Corp. (LGF), Truist Financial Corp (TFC), and More

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Steve Cohen’s Secret Weapon for the Mets: His Hedge Fund (The Wall Street Journal)
In the 18 months since billionaire hedge-fund manager Steve Cohen bought the New York Mets, the baseball world has wondered how the sport’s wealthiest owner would use his vast resources and financial acumen to fix a historically hapless organization. The answer was both simple and revolutionary: He brought his hedge fund to the Mets—literally. Some senior employees from Cohen’s firm, Point72 Asset Management, have been moonlighting as Mets employees in crucial roles, according to staffers’ LinkedIn pages, the Mets’ website and people familiar with the matter. Many are tasked with improving the team’s once-outdated infrastructure, data-analytics capabilities and technological prowess.

Sachem Head Wins ISS Support for Three Nominees at U.S. Foods (Bloomberg)
Activist investor Sachem Head Capital Management won the support of a prominent shareholder advisory firm for three of its five nominees for the board of U.S. Foods Holding Corp. Institutional Shareholder Services Inc. said in a report Monday it appears that U.S. Foods has underperformed its peers, and that electing three of Sachem Head’s nominees creates a path to replace management if needed.

Hedge Fund Billionaire Dan Loeb Appears to be Courting NYC Mayor Eric Adams Over Charter Schools (CNBC)
Eric Adams and Dan Loeb have been privately speaking since the mayor’s inauguration earlier this year. The election of Adams marked a shift in the city’s relationship with charter schools from former New York Mayor Bill de Blasio, who favored public schools over the publicly funded but independently run schools. Loeb has long been one of the city’s most affluent charter school supporters and served as the past chairman of Success Academy, which operates a network of about 50 schools in New York City.

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AIM Capital Hires Portfolio Manager (Hedge Nordic)
Stockholm (HedgeNordic) – Finnish asset manager AIM Capital has announced the expansion of its alternative investment capabilities with the appointment of Kristian Laitinen as a Portfolio Manager. Laitinen joins AIM Capital from OP Bank, where he worked in various executive roles. “We are excited to add Kristian to our growing investment team,” says Miikka Hautamaki, CEO and Managing Partner of AIM Capital. “Kristian joining the firm is an important next step in accelerating our growth strategy as the market opportunity for alternatives continues to grow and evolve,” he continues. “Kristian has extensive experience that will help to create long-term value for clients.”

HFRI Reports Gains for Hedge Funds in April (Hedge Week)
Hedge funds posted gains in April, as global equities and bonds suffered historic declines, accelerating an unprecedented hedge fund outperformance trend driven by powerful, broad-based gains across macro sub-strategies, according to data released by HFRI. Extending the trend from Q1 2022, macro hedge funds surged to lead industry-wide gains in April, again posting strong returns as financial market volatility was exacerbated by skyrocketing inflation, rising interest rates and expectations for continued increases, and escalation of the Russian military invasion of Ukraine.






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