Hedge Fund and Insider Trading News: Steve Tananbaum, Bill Ackman, Starboard Value LP, Light Sky Macro LP, Coeli Asset Management, Strategic Education Inc (STRA), and More

Coeli Axes Multi Asset Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Swedish asset manager Coeli Asset Management has announced the liquidation of Coeli Multi Asset after learning of a major investor’s intention to redeem all investments in the hedge fund. Coeli Multi Asset’s institutional share class gained a cumulative 7.8 percent in the first two years of operation, but all the gains were erased in January this year after booking a loss of 9.9 percent. Coeli Multi Asset entered into liquidation on February 4 this year.

Ben Melkman’s Light Sky Macro is Shutting Down (The Wall Street Journal)
A macro investor told clients this week that he plans to shut down his hedge-fund firm, Light Sky Macro LP, according to people familiar with the matter. Ben Melkman’s Light Sky, which managed roughly $1 billion recently, started in March 2017 with investments from other hedge-fund managers including Steven A. Cohen and Daniel Loeb. Mr. Melkman was previously a partner and portfolio manager at Brevan Howard Asset Management, where he attracted notice for a profitable wager he made on Argentina…

Tananbaum’s GoldenTree Attacks Volatility Era With Crypto Play (Bloomberg)
Steve Tananbaum has a playbook for markets roiled by inflation, rising rates and geopolitical volatility — and crypto is a centerpiece. The veteran credit investor and founding partner of GoldenTree Asset Management is broadening his flagship hedge fund to include trading in digital-assets and financing deals in exchange for tokens. He sees opportunities to earn outsize returns and doesn’t want to forgo them by sticking to traditional strategies.

Source: pexels

Huntsman Says Starboard’s Director Nominees Add “No Incremental Value” (Reuters)
March 2 (Reuters) – Huntsman Corp said on Wednesday director candidates nominated by Starboard Value to the chemical maker’s board lack expertise, add no incremental value and are not independent of the activist investment firm. Starboard, which owns an 8.6% stake in Huntsman, launched a proxy contest in January when it nominated the four people.

Some US Russia Sanctions Could be Counterproductive, Says Citadel’s Griffin (Hedge Week)
A US decision to curb Russian access to US technology and US dollars in retaliation for the invasion of Ukraine, could backfire, according to hedge fund manager Ken Griffin. In an interview with Bloomberg, the Citadel chief executive said that denying Russia access to US tech could hurt Sillicon Valley and force Russia to look elsewhere – such as China – for software solutions.