Funds
Rising Sun Management (RSM), an investment advisor to the Nippon Active Value Fund (NAVF), an activist, Japan-focused Investment Trust, has sent a letter to the management of Intage Holdings, a Japanese marketing research firm, urging that it undertake a management buyout (MBO) of the company.
The European Energy Exchange (EEX) will conduct the auctions of emission allowances within the European Emissions Trading System EU ETS on behalf of the Federal Republic of Germany for another two years. The corresponding contract was extended by the German Environment Agency until January 2024.
The hedge fund industry extended its monthly inflow streak to nine consecutive months in November, bringing in USD19.3 billion in new assets.
A Market-neutral DeFi hedge fund has been launched by former investment manager Evgeny Gokhberg on London-based Falcon Investment Management’s multi-manager investment platform.
The stock of casino operator Bally’s Corp was up 24 per cent on Tuesday, after its biggest shareholder, hedge fund Standard General, which offered to acquire all of the company’s outstanding shares for USD38 a share, according to a MarketWatch report.
The offer, which was the report says was made in a latter to Bally’s board, represents a roughly 30 per cent premium over the stock’s closing price Monday.
Standard general already owns more than 20% of Bally’s shares and intends to use a combination of sale-and-lease back and other long-term financing to fund the deal.
Sustainable energy stocks have attracted the interest of hedge fund short sellers, according to a report in the Financial Times, with managers betting that the prospect of interest rates rise will mean companies with strong environmental credentials but weak earnings are less attractive to investors.
Post Road Group (Post Road), an alternative investment firm focused on middle-market corporate strategies and real estate, has closed the Post Road Special Opportunity Fund II LP with total capital commitments of more than USD300 million, exceeding the Fund’s target.
SOF II received significant backing from existing Post Road limited partners as well as new investors globally, including pension funds, fund of funds, university endowments, private foundations, and family offices.
SOF II invests in a range of corporate strategies, including secured credit, structured equity, and special situations in middle-market technology, media, telecommunications, and business services sectors. The Fund seeks
LexShares, a tech-enabled leader in litigation finance, has held the oversubscribed closing of the LexShares Marketplace Fund II (LMFII), a USD100 million fund dedicated to investments in commercial legal claims.
LexShares’ deployment of the fund will be overseen by new chief executive officer, Cayse Llorens, who joined the firm’s senior leadership team in 2021.
Investment in the fund was led by Titan Advisors, a USD4.5 billion alternative investments firm, with additional participation from several institutional investors and select family offices.
London-based hedge fund firm Lodbrok Capital’s European Credit Opportunities Fund was up 32 per cent last year, according to a report by Bloomberg.
The returns came on the back of investments in Swiss bakery firm Aryzta AG, UK oil services firm Valaris, and German industrial property company Deutsche Industrie REIT AG, according to a letter sent to Lodbrok Capital’s investors.
Lodbrok joins a growing list of strong performing opportunistic credit funds including CastleKnight Management, whose flagship fund returned a net 64 per cent in its first full year, and Apollo Global Management, which posted a net 10 per cent gain.
Trian Fund Management, the activist hedge fund run by Nelson Peltz, has acquired a stake in Unilever Plc, according to the Financial Times and Reuters.
