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3G Capital has quietly backed a technology-focused hedge fund managed by Michael Ding, who has achieved impressive annualized returns of 22% since early 2020, with a 50% gain year-to-date. The fund, 3G Courser, specializes in small and mid-cap companies and leverages 3G's extensive network and research capabilities. With approximately $300 million in assets, it stands out among competitors, outperforming notable peers in the hedge fund space.
The crypto lending sector is experiencing a resurgence as Bitcoin's price has more than doubled this year, surpassing $100,000 for the first time. The funding rate for Bitcoin has surged over tenfold since early June, reflecting a growing demand for leverage among traders. This optimism is fueled by expectations of increased mainstream adoption during the upcoming Trump administration.
ExodusPoint Capital Management is extending its bonus clawback policy to include senior non-investment staff, reflecting the ongoing talent competition in the hedge fund sector. Employees who leave before the end of 2024 may be required to repay up to 40% of their bonuses.
The US commercial real estate debt (CRED) market is thriving, driven by high interest rates, low loan-to-value ratios, and the rise of non-bank lenders. With traditional banks facing regulatory pressures, alternative lending is gaining traction, offering investors robust income and diversification opportunities. As non-bank lenders capture 40% of the market, CRED is poised to become a strategic asset class in both the US and Europe.
Advent is in the process of soliciting investors for a new flagship fund, aiming for a target size in the mid-$20 billion range, similar to its previous record-setting $25 billion fund. Preliminary meetings with limited partners have been ongoing since last month, as the firm seeks to gauge interest.
CRISPR Therapeutics holds a consensus "Hold" rating with an average target price of $74.94. CEO Samarth Kulkarni recently sold 30,000 shares at $55.62, reducing his stake by 13.24%. The company reported a quarterly loss of $1.01 per share, surpassing estimates, with revenue of $0.60 million. Insider sales totaled 50,382 shares valued at $2.74 million in the last 90 days, while institutional investors own 69.20% of the stock. The stock traded at $51.94, with a 52-week range of $43.42 to $91.10.
Singapore’s Temasek has established a $7.5 billion private debt platform, joining major investors in the $2 trillion sector amid concerns over interest-rate cuts and market saturation. The platform will be led by Nicolas Debetencourt, who has been with Temasek since 2016. This initiative is distinct from the Temasek-owned Seviora Group, which recently raised $1.3 billion for its second private credit fund, increasing its assets under management to over $2.5 billion.
Brighter Super, an Australian pension fund with A$33 billion in assets, is shifting approximately one-third of its equities from passive to active management. Chief Investment Officer Mark Rider cites increasing market volatility as a key factor driving this strategic change.
Westaim Corporation has appointed CRO Skurbe, who is currently a senior managing director and the chief operating officer and CFO of CC Capital. Skurbe previously held the position of managing director in finance and treasurer at Blackstone, where he also served as COO for Blackstone Liquidity Solutions and was a member of the Valuation and Enterprise Risk Committees.
In Cramer's Lightning Round, Ralph Lauren is viewed positively, with expectations for its stock to rise. Vertiv's stock is cautioned against at current high levels, while SoundHound AI has recently broken out, suggesting a potential short-term gain. Robinhood is projected to reach $35, and Limbach is recommended alongside more stable options like Trane or Carrier. Skyworks Solutions may require patience for a turnaround, indicating a longer wait for investors.
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