Managers
Hindenburg Research, the short seller behind a market rout that wiped over $100 billion in value from India’s Adani Group, has revealed it holds short positions in Block Inc, the payments firm led by Twitter co-founder Jack Dorsey, according to a report Reuters.
And in a new research report on Block Inc, Hindenburg has alleged the company has both overstated its user numbers, and understated its customer acquisition costs.
Block has said it is exploring taking legal action action against the short seller for its “factually inaccurate and misleading report” that was “designed to deceive and confuse investors”, and that
US activist hedge fund Engine Capital is agitating for a complete overhaul of Canadian fuel company Parkland Corp after accusing the firm of “staggering” underperformance, according to a report by the Financial Post.
In an open letter delivered to the Calgary-based company on Wednesday, Engine said it wants to see a sale or spin-off of non-core assets, including Parkland’s refinery and fuel distribution operations, to create a “pure play” fuel retail and convenience store business.
The letter goes on to say that if Parkland is unwilling to implement the recommendations it should consider a sale of the entire business to
Hedge fund Modulo has agreed to repay 97% of the money that companies from Sam Bankman-Fried’s bankrupt FTX cryptocurrency empire paid to it during 2022, according to a report by Reuters, citing court documents filed on Wednesday.
Bank additional tier-1 bonds, including those of Credit Suisse, are attracting the attention of large hedge funds and distressed debt investors, who are buying them up at discount prices, according to a report by Reuters.
Wild swings in the bond markets have proved a big problem for Said Haidar with his flagship Jupiter macro hedge fund set to record its biggest-ever monthly loss since its inception over two decades ago, according to a report by Reuters.
Unnamed Reuters sources have revealed that on Friday, the fund was down by almost a third (32%) for the month, taking year-to-date losses to 44%, a sharp reverse for Haidar’s clients who saw their investments return 193% last year.
According to one Reuters source, Haidar, who is known for his highly leveraged strategy, took a big hit on his
While US hedge fund Citadel is expecting a tighter credit environment following the latest banking crisis, the firm’s head of commodities, Sebastian Barrack, is predicting limited impact on global commodities, according to a report by Reuters.
Pressure from US activist hedge fund DE Shaw has prompted Fleetcor Technologies, a provider of fuel cards and workforce payments products, to add two new board members and explore the possible sale of one or more of its businesses, according to a report by Reuters.
Rahul Gupta, a veteran board member director and s in the digital services and payments industry, has already been appointed as a new director, while a second new board member will be chosen jointly by Fleetcor and DE Shaw.
Technology executive Annabelle Bexiga joined Fleetcor’s board in January when the company also said that one
Activist investment fund Enkraft, which owns stakes in several German energy firms, has accused renewables group ABO Wind of failing to provide investors with a clear strategic roadmap, according to a report by Reuters.
Specifically, Enkraft – which says it owns around 500,000 shares, or around 5%, of ABO Wind – has criticised the way the company discloses information about its project pipeline, the lack of available information about project sites are chosen, and has also raised questions over the group’s hydrogen strategy.
ABO Wind, which builds solar and wind farms and is currently valued at €682 million ($730 million),
Distressed debt investor David Tepper is betting that the value of Silicon Vally Bank parent SVB Financial Group’s debt will rise as parts of the group are auctioned off, according to a report by the Financial Times.
Unnamed FT sources have revealed that Tepper, who has a successful track record in investing in troubled financial companies, acquired SVB bonds along with preferred stock via Appaloosa Management, which for the most part manages his family’s multibillion-dollar fortune.
SVB filed for Chapter 11 bankruptcy protection in a move intended to make it easier to auction off its broker dealer, which generated more
Graticule Asia, a macro hedge fund founded by veteran macro trader Adam Levinson, is shutting down after being hit by losses following the demise of Silicon Valley Bank and the ongoing bond market volatility, according to a report by Bloomberg.
