SkyBridge Goes All in on Crypto, Betting on ‘Tremendous Growth’ Ahead (Coin Telegraph)
“For us, we think the cryptocurrency markets represent tremendous growth,” said SkyBridge founder Anthony Scarramucci. SkyBridge Capital is working on pivoting the majority of its assets under management (AUM) to digital assets, as the sector represents “tremendous growth” for the firm. The hedge fund was founded by former United States politician Anthony Scaramucci in 2005 and first delved into Bitcoin (BTC) in late 2020. The firm also has money deployed in other hedge funds, late-stage private tech companies and real estate, with its total AUM reported being around $7.3 billion.
Warren Buffett to Host Final Charity Lunch for San Francisco Nonprofit (Reuters)
April 25 (Reuters) – Warren Buffett plans to hold his 21st, and final, charity lunch to raise money for Glide, a San Francisco nonprofit that serves the poor, homeless, and people battling substance abuse. Glide said on Monday that the auction begins on June 12 on eBay and will conclude on June 17. The winner and as many as seven guests will dine with Buffett at the Smith & Wollensky steakhouse in Manhattan.
Melvin Capital Management Scraps Plan to Start Charging Performance Fees Again (The Wall Street Journal)
Gabe Plotkin scrapped a plan to start charging performance fees again at his beleaguered hedge fund, Melvin Capital Management, after encountering backlash from investors. Mr. Plotkin on Thursday told clients he planned to shrink the size of Melvin’s hedge fund by several billion, to $5 billion, and resume charging performance fees even though his investors are still sitting on steep losses. Those who had been invested at the start of 2021 have lost 51.8% through March, after a big hit Melvin suffered in January of last year due to the meme-stock rally.
Anomaly Capital Management Is Once Again Accepting New Capital (Institutional Investor)
Ex-Viking CIO Ben Jacobs has been on a roll since early 2021. A Tiger Grandcub who recently enjoyed a successful hedge fund launch is opening his fund up to new capital. Anomaly Capital Management, headed by Ben Jacobs, the former co-CIO of Viking Global Investors, is once again accepting capital from existing and new investors.
Hedge Fund Verition Moves Its New York Office in a Major Expansion (Bloomberg)
Verition Fund Management has moved to new Manhattan offices in a major expansion for the fast-growing hedge fund. The firm relocated to 245 Park Ave., where it has 38,000 square feet (3,530 square meters) on the 35th floor, according to people familiar with the matter. That’s more than four times its old space at nearby 230 Park Ave., where it occupied 8,500 square feet.
Case Acquires Celina’s Funds (Hedge Nordic)
Stockholm (HedgeNordic) – Asset manager Case Group has acquired Celina Fondförvaltning’s fund operations for SEK 365 million. The publicly listed asset manager is bringing under its umbrella Celina’s seven active funds – including three members of the Nordic Hedge Index – and three fund management agreements that oversee a combined SEK 14.1 billion in assets under management. The purchase price of SEK 365 million consists of a cash portion of SEK 100 million obtained from own capital and bank loans, and a convertible loan of SEK 265 million with a maturity date of December 31, 2026.
