Managers
A prominent advisory firm has advised shareholders in luxury goods company Richemont to vote against activist investor Bluebell Capital Partners board nominee at a forthcoming annual meeting, according to a report by SwissInfo.
In a report on Monday, Institutional Shareholder Services Inc recommended that shareholders reject the British activist hedge fund’s proposal to appoint Bulgari CEO Francesco Trapani to the board as representative of Richemont’s A-class equity holders, saying the appointment wouldn’t serve their interests.
Shareholders have also been urged not to to vote for Trapani by Richemont chairman Johann Rupert, partly because he was the CEO of Bulgari when
M28 Capital has acquired an additional 2.85 million share in Adagio Therapeutics (ADGI) at an average of $4.28 per share, bringing its holding to 9.2 million, according to a report by 247WallStreet.
The report cites a 13D/A filing with the US Securities & Exchange Committee as revealing that the healthcare focused hedge fund now holds 8.5% of the company, having bought its first 5.6 million ADGI shares in May 2021 and a second tranche in April 2022.
M28 Capital, which also holds stakes in Wave Life Sciences, Rocket Pharmaceuticals Inc (RCKT), Stoke Therapeutics Inc (STOK) and BridgeBio Pharma (BBIO), is
LHG Capital Management (LHG), a hedge fund firm focused on global macro investment strategies, received over US$600 million in net inflows in 2022, pushing the firm’s total assets under management to over $750 million in August 2022.
LHG is now one of the largest hedge funds dedicated exclusively to global macro investing in the Asia-Pacific region.
The hedge fund firm’s flagship global macro fund, the LHG Premium Investments Fund, reported a six-month return of 15% between October 2021 and April 2022, with a maximum peak-to-trough drawdown of -2.17%.
Following an extensive consultation with its flagship fund investors, LHG’s management team
Options Technology, a provider of cloud-enabled managed services to the global capital markets, has secured it eighth Microsoft Gold Partner Status competency in Data Platform.
Gold Partner Status is awarded to only the top 1% of Microsoft partners and is a recognised mark of the highest technology and business performance standards worldwide.
Microsoft’s Data Platform competency demonstrates Options’ ability to ensure customer database systems operate efficiently with data secured from unauthorised access and categorised so that it can be translated into business insights.
This accolade is the latest addition to Options’ global cloud-agnostic platform. It follows the company’s receipt of
Ray Dalio’s Bridgewater Associates has seemingly had a change of heart regarding European stocks with the hedge fund cutting back most of its big bets against continental companies, according to a report by Reuters.
The report cites data company Breakout Point, whose calculations are based in on Bridgewater’s public disclosures, as revealing that the company’s short wagers against stocks in more than 50 European companies have been cut from roughly €10 billion to €475 million. Just two financial institutions remain on Bridgewater’s ‘short’ list – Banco Santander SA and ING Groep.
With European regulations only requiring funds to disclose
CVC Credit has priced Apidos XLI (41), a collateralised loan obligation (CLO) fund totalling c$500 million, arranged by Societe Generale. This is the fifth new issue CLO priced by CVC Credit’s transatlantic performing credit platform this year, which together have an aggregate value of over $2.4 billion (c€2.3 billion).
Apidos XLI will increase CVC Credit’s global AUM to over $34 billion (€32 billion). The transaction has been structured with a five-year reinvestment period and was well received by both existing and new investors. As with previous Apidos funds, Apidos XLI is primarily comprised of broadly syndicated First Lien Senior Secured Loans.
Scion Asset Management’s the hedge fund run by Michael Burry of ‘The Big Short’ fame, liquidated almost all of its equity portfolio in Q2, according to a report by MarketWatch.
IGas Energy has seen its share price jump by 5 per cent in the past week after hedge fund Odey Asset management revealed a 3.17% stake in the business, according to a report by CMC Markets.
The jump takes the total increase in the firm’s stock price to a huge 525% so far in 2022 on the back of rising gas prices and rumours that the UK may reconsider its ban on fracking. By comparison, the value of the FTSE Aim All-Share Index, of which the onshore gas exploration specialist is a constituent, has fallen by 23.2% since the start
Elliot Management, an activist hedge fund that pushed for change at Twitter two years ago, exited its holding completely during Q2 of this year, after Elon Musk agreed a $44 billion takeover deal for the social media giant in April, according to a report by The Financial Times.
Twitter’s shares jumped dramatically following news of the deal, trading as high as $51.70 at one point in late April, but fell sharply to $37.39 on 30 June when Musk attempted to withdraw from the acquisition. Twitter stock closed at $44.50 on Monday of this week.
The report cites a regulatory filing
Hedge fund short sellers have again been betting against fashion retailers Asos and Boohoo following an investigation into greenwashing at the two companies by the Competition and Markets Authority (CMA), according to a report by Charged.
