Managers
Elon Musk’s decision to get his takeover of Twitter back on track could deliver a $255 million profit for Florida’s-based hedge fund Pentwater Capital, according to a report by CNBC.Having a acquired a 2.4% stake in Twitter during Q2 for $725 million, Pentwater Capital, which oversees assets of $5 billion, is one of the social media firm’s largest shareholders.
If the deal between Tesla CEO Musk and Twitter concludes at the original bid price of $54.20 per share, Pentwater’s stake would be worth about $980 million, yielding a $255 million profit.
Pentwater stake was acquired when Musk was signalling he
Modular Asset Management’s ESG-focused crypto hedge fund is betting that tokens with stronger sustainability characteristics will outperform other digital assets by buying algorand and polkadot, according to a report by Bloomberg.
Speaking in an interview with Bloomberg, Daniel Liebau, chief investment officer, said that in recent weeks, the Modular Blockchain Fund had also increased its holdings of cosmos.
Liebau’s strategy is to bet on coins he believes are best placed to withstand increased scrutiny of the ESG credentials of cryptocurrencies.
Polkadot and Algorand have dropped 43% and 39%, respectively, since Liebau’s fund launched on 10 May, compared with a 34%
Hedge fund Elliott Investment Management has upped its stake in Swedish Match AB to 7.25% and is now the largest single shareholder in the Swedish smokeless tobacco company, according to a report by Bloomberg.
The move comes as Philip Morris International (PMI) is working on completing a deal to acquire the business in a $14 billion deal, down from $16 billion due to a fall in the value of the Swedish krona against the US dollar.
The report cites regulatory filings as revealing that Elliott upped its stake on two consecutive days as a group of large hedge funds are
A new activist hedge fund, Irenic Capital Management has built a stake in Barnes Group, believing the global industrial and aerospace manufacturer and service provider could be worth twice its current value in a sale, according to a. Report by Bloomberg.
Hedge fund giant Balyasny Asset Management believes the Bank of England (BoE) could be fighting a losing battle to bring down inflation following its intervention to control bond yields last week, according to a report by Bloomberg.
The BoE’s intervention to prevent a potential crash in the gilt market came in the form of a pledge to make unlimited purchases of long-dated bonds. And while it has stabilised markets to some extent, the $16.6 billion multi-strategy manager, whose main hedge fund is up about about 7.8% this year, believes the value of sterling is still at risk.
The report cites
Up-market pet-food and treats manufacturer Freshpet has hired bankers to explore a possible sale of the business following pressure from activist investors including hedge fund Jana Partners, according to a report by Barron’s.
Jana Partners, acquired a stake of almost 20 per cent in the business last month, and as well as a potential sale, wants the business make changes to boost its stock price.
The report cites a regulatory filing as revealing that Jana Partners believes that Freshpet’s shares are undervalued currently and represent an attractive investment opportunity.
Thym filling says that Jana Partners: “intends to have discussions with
Teza Technologies, a global quantitative multi-strategy, multi-PM hedge fund manager with more than $500 million in assets under management, is opening its first European office in London.
The new office, which will serve as the headquarters of the firm’s expanding European investment operations, will be led by Dr James Chavin, who is joining Teza as President and will oversee Teza’s investment operations in Europe.
Following a strong period of performance and growth, Teza’s expansion into London seeks to better serve the firm’s growing investor base and facilitate increased participation in European markets. Teza’s existing European investor teams, hired earlier this
Alternative investments firms saw a significant increase in interest in 2022, according to Peregrine Communications’ second annual Alts 50 report assessing the integrated marketing communications (IMC) performance of the alternative investment management industry.
The report found that nearly three-in-four (74%) firms saw increasing brand awareness over time. This is in stark contrast to the prevailing trend among long-only asset managers, where brand awareness has been in decline since 2018, according to Peregrine’s annual Global 100 study of the largest asset managers in the world.
When looking at how well firms marketed themselves as a whole, Blackstone maintained top spot overall
Billionaire hedge fund investor Ken Griffin believes that a US recession is inevitable and could happen as soon as next year, according to a report by the Financial Times.
Speaking at CNBC’s Delivering Alpha conference in New York yesterday, the Citadel boss said that the only uncertainty is how hard the recession will be. And he believes the US Federal Reserve needs to do more to tackle inflation despite having raised its its benchmark rate by 0.75 percentage points for the third time in a row.
Griffin is not alone in predicting tough times ahead for the US economy with
Private health science startup investor Lumira is setting up a hedge fund to bet on public copies it regards as having been oversold during the sector’s troubled past year, according to a report by The Globe & Mail.
