A New York Mansion Once Owned by Gianni Versace Asks $70 Million (The Wall Street Journal)
Swedish hedge-fund manager Thomas Sandell and his wife bought the 17-room Neoclassical townhouse from the Versace family for $30 million in 2005. A 17-room New York City mansion formerly owned by Italian designer Gianni Versace is coming on the market for $70 million. Mr. Versace, who started the Versace fashion house in 1978, bought the townhouse for $7.5 million in 1995; the next year, the Versaces opened a five-story boutique on Manhattan’s Fifth Avenue. He was famously murdered outside his Miami estate in 1997.
The Winners at the 2021 Nordic Hedge Award (Hedge Nordic)
Stockholm (HedgeNordic) – HedgeNordic is pleased to announce the winners at the 2021 Nordic Hedge Award. For the tenth edition of the Nordic Hedge Award, we are pleased to have gathered the Nordic hedge fund community the old fashioned way: meeting old friends and making new connections with drinks and laughs, exchanging business cards and war stories in the flesh – all while celebrating outstanding talent and achievement in the Nordic hedge fund arena.
How Did Bill Hwang Think This Was Supposed to End? (Bloomberg)
Inside Bill Hwang’s Archegos Capital Management, panic was setting in. Hwang had amassed one of the world’s great fortunes in virtual secrecy, and that trove — a staggering $160 billion position in stocks — was unraveling everywhere, all at once. That was March 23, 2021 — and Wall Street had no idea what was about to go down. A year after the collapse of Archegos sent shock waves through global finance, Hwang was arrested Wednesday morning and, for the first time, federal prosecutors offered an official account of what really happened at the secretive family office.
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Elliott Calls for Suncor Strategic Review, Board Changes (Reuters)
(Reuters) – Hedge fund Elliott Management is pushing Canada’s Suncor Energy to undertake a strategic review of its business and refresh its board, saying its shares have underperformed despite a surge in crude prices to multi-year highs. In a letter to the company’s board on Thursday, the activist investor said Suncor’s shares have remained virtually unchanged since early 2019 and that the oil producer has missed production goals, while being plagued with safety failures.
Monroe Capital Hits $4.8bn with Direct Lending Fund (Opalesque)
The Fund received $2.3 billion of limited partner commitments, plus targeted leverage of $1.1 billion. In addition, it received $1.4 billion from separately managed accounts, including leverage. The Fund is Monroe’s largest fund to date, exceeding Monroe Capital Private Credit Fund III, which closed in November 2018 at $2.3 billion of investable capital. The Fund primarily targets private equity sponsored and non-sponsored, lower middle-market U.S. companies with less than $35 million in EBITDA.
Digital Capital Management’s Crypto Asset Fund (CAF), Class X Ranked Top Performing Hedge Fund for 2021 (Hedge Week)
Digital Capital Management (DCM) Crypto Asset Fund (CAF) Class X, one of the first crypto trading funds in the United States (launched July of 2017), has been ranked No1 in Net Return for Crypto Funds in 2021, in addition to ranking No1 in Net Return for all hedge funds by Preqin. Earlier this year, CAF Class X was awarded the “No1 Top Performing Crypto Fund, Overall” for 2021 by Crypto Fund Research (CFR). CAF Class X also received three additional CFR awards in several other categories, including “No1 Top Performing Crypto Fund, Quant/Arb Strategies” for 2021.
It’s a ‘Dicey’ Market for Gas, Hedge Fund Says of Russia-EU Standoff (CNBC)
Bill Perkins of Skylar Capital Management discusses the possibility that Russia will shut off gas supply to European countries if they do not pay in rubles.
Fidelity Boosts Staff Again to Keep BlackRock, Vanguard at Bay (Bloomberg Quint)
(Bloomberg) — Fidelity Investments is a money management behemoth. But its hiring plans more closely resemble a hungry startup. The Boston-based fund manager will add 12,000 new jobs by the end of the third quarter, it said Thursday — a spree that puts it on track to expand headcount by more than 50% in three years. The firm already has 57,000 staff, and discretionary assets of $4.2 trillion.
These Are the Winners of the 2022 Hedge Fund Industry Awards (Institutional Investor)
This year’s top hedge fund manager for institutional investors is Elliott Management Corp. The hedge fund firm headed by Paul Singer took home the award for Institutional Hedge Fund Manager of the Year at Institutional Investor’s 19th annual Hedge Fund Industry Awards, held Wednesday at the Mandarin Oriental in New York. Finalists in 19 other categories — including 9 allocator and consultant categories and 10 hedge fund categories — also received awards over the course of the evening.
Thursday 4/28 Insider Buying Report: LRCX, OFG (Nasdaq.com)
At Lam Research, a filing with the SEC revealed that on Tuesday, Director Catherine P. Lego bought 1,736 shares of LRCX, for a cost of $460.35 each, for a total investment of $799,168. So far Lego is in the green, up about 2.7% on their purchase based on today’s trading high of $472.87. Lam Research is trading up about 2.3% on the day Thursday. And at OFG Bancorp, there was insider buying on Monday, by Jorge Colon who bought 19,215 shares at a cost of $26.01 each, for a total investment of $499,840. Before this latest buy, Colon made one other purchase in the past twelve months, buying $531,370 shares for a cost of $26.90 a piece. OFG Bancorp is trading up about 2% on the day Thursday. So far Colon is in the green, up about 4.4% on their purchase based on today’s trading high of $27.16.
Executives Buy More Than $78M Of 3 Stocks (Benzinga)
iHeartMedia: The Trade: iHeartMedia, Inc. (IHRT) 10%+ owner Michael Tabor acquired a total of 2,826,612 shares at at an average price of $17.38. To acquire these shares, it cost around $49.14 million. Affirm Holdings: The Trade: Affirm Holdings, Inc. (AFRM) 10% owner Jasmine Ventures Pte Ltd acquired a total of 700,000 shares at an average price of $32.19. To acquire these shares, it cost around $22.54 million. What’s Happening: The company’s shares dropped 32% over the past month.
Insider Buying: INDUS Realty Trust, Inc. (NASDAQ:INDT) Major Shareholder Buys 4,107 Shares of Stock (DefenseWorld.net)
INDUS Realty Trust, Inc. (NASDAQ:INDT) major shareholder Ccp Sbs Gp, Llc bought 4,107 shares of the business’s stock in a transaction on Monday, April 25th. The shares were purchased at an average cost of $71.99 per share, for a total transaction of $295,662.93. Following the completion of the purchase, the insider now owns 697,403 shares in the company, valued at $50,206,041.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
