Hedge fund and insider trading news: Kyle Bass, Credere Capital, Elliott Management, Point72 Asset Management, Ascribe Capital, Ocado Group (OCDGF), Applied Materials Inc (AMAT) and more

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Social media influencers are the new SMEs, but they are underserved. A Point72 Ventures official says fintechs can fill this gap. (Business intern)
The numbers are impressive. $ 5,000 for an Instagram post. $ 8,900 for a single YouTube video. $ 13,644 in a month for affiliate marketing offers on TikTok. $ 20,703 from YouTube ads. $ 141,000 in a month for a YouTube channel. While celebrities have always been able to land valuable sponsorship deals, ordinary people now make a lot of money through social media as well.

GlaxoSmithKline Says Board Supports CEO Under Pressure (The Wall Street Journal)
GlaxoSmithKline PLC said its board considers chief executive Emma Walmsley the right fit to lead the company’s pharmaceutical business after a planned split with its consumer health unit, a vote of confidence a day after the company activist investor Elliott Management Corp. requested a management review. Elliott, in his first public comment after amassing a stake in Glaxo, on Thursday called for board changes ahead of the British pharmaceutical giant’s planned separation. He asked Glaxo to initiate a process to decide whether Ms Walmsley should continue to run the business. Elliott also criticized the company’s recent performance under his leadership.

Nordic Capital raises $ 1.4 billion for the first mid-market fund (Opalesque)
Private equity investor Nordic Capital has created a new fund for mid-sized companies worth 1.2 billion euros ($ 1.4 billion), including a GP commitment of 6.8 %, in just three months. The Evolution fund was significantly oversubscribed to its hard cap and far exceeded its target, according to a press release from the private equity fund which mainly focuses on investments in Northern Europe. “With the Evolution fund, Nordic Capital will build on its long and successful experience of investing in the mid-market, applying its value creation model to a wider range of mid-size companies in its selected sectors and geographies. , leveraging its expertise and extensive network of experts, ”the statement said.

Luis Louro / shutterstock.com

Investor Kyle Bass lashes out at US companies for drawing closer to China in the name of profits (CNBC)
Hedge fund manager Kyle Bass, a frequent critic of the Communist Party of China, on Thursday blasted American companies that denounce social injustices in the United States but fail to take strong positions regarding human rights violations in China. “If the national security of the United States was left to American companies, we would all be speaking Chinese very quickly,” said the founder of the Texan company. Hayman Capital Management said on CNBC’s “Squawk Box”.

Billion-dollar startups show new hedge funds are thriving (FA-Mag.com)
Hedge fund launches this year are on track to match last year’s numbers, although returns have been more subdued than the big gains of 2020. And 2022 startups could be even bigger, possibly led by old Viking Global Investors manager Divya Nettimi, given that Viking spawned some of the most notable debuts in recent years, according to people familiar with his plans. Most startups will focus on equities, specializing in areas such as biotech or tech and hoping to capitalize on the 2020 outperformance by these specialist hedge funds, which have beaten the market at large. So far this year, these so-called sector funds have lagged terribly behind the S&P 500, returning about a fifth of the benchmark’s gains, according to research firm PivotalPath.

Nickel Digital Turns Flagship Arbitrage Strategy Fund Much Of Crypto Into Cash: Report (Parts office)
The Digital Asset Arbitrage Fund, launched in 2019, focuses on crypto assets. It has recorded positive monthly returns since its inception and has gained around 13% this year, Bloomberg said. The crypto sell-off in May saw a number of leveraged positions, particularly those of retail investors, with losses. Co-founder Anatoly Crachilov said he expects the slump to end soon as institutional investors are increasingly interested in assets.

Convert-Arb Specialist Credere Capital Unveils Higher Volatility Relative Value Hedge Fund (Coverage week)
Credere Capital, an arbitrage-focused convertible hedge fund led by well-known industry veteran Oliver Dobbs (pictured), is launching a higher volatility, higher yield version of its Trium Credere strategy later this year to harness the growing investor demand for such strategies. The Cayman-registered Trium Credere Circle fund – expected to roll out in the third quarter – will trade the same arbitrage and relative value strategy as the existing flagship Trium Credere, investing in a range of hybrid securities and derivatives markets, but will target approximately double the exposure.

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