Ola has closed on its $500 million Series F financing, which includes investments from previous investors such as New York-based Tiger Seed Tiger Global Management and New York-based Tiger Grandcub Falcon Edge Capital. Back in September we reported that both firms had already participated in the funding round, which had raised $225 million of the $500 million target at the time, citing published sources. Ola is the ride-sharing app that competes with Uber in India. We reported last week that Ola is the second most successful private investment ever made by Tiger Global, generating more than $3 billion in realized and unrealized gains. Three of Tiger Global’s nine private partnerships have made investments with Ola. Altogether, Ola has raised around $1.4 billion from outside investors, according to reports. Separately, Tiger Global participated in the $30 million Series C round of financing for Avenida, an Argentinian e-commerce website.
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Davidson Kempner Capital Management this week filed ten separate revisions of prior 13F disclosures going back to the September 30, 2014 period. In most of the cases, the New York-based hedge fund firm revised the same document multiple times for the same period to include different stock holdings. For example, it revised the March 31, 2015 13F document four different times to add a total of seven individual holdings, and the filing for two other periods three times each to add or change 17 different holdings. Most of the stocks appear to be companies involved in some sort of mergers and acquisitions.
Davidson Kempner was founded in 1987 by Marvin Davidson and Thomas Kempner Jr. Davidson retired in 2009. The firm is the 18th largest hedge fund firm in the world, with nearly $25 billion at the start of the year. Davidson Kempner is not the only serial 13F reviser. Two other firms regularly update a slew of earlier filings each quarter — Chicago-based Citadel and Evanston, Illinois-based Magnetar Capital.
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Shares of SunEdison finally had a positive day, rebounding 7.62 percent to close at $3.25. On Wednesday morning, Deutsche Bank published a note asserting that after investor meetings with the renewable energy company’s management, it continues to believe “liquidity concerns are overdone and the execution on pending transactions along with refinancing of margin loan could act as positive catalyst” for the stock.
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Credit Suisse trimmed its stake in hedge fund favorite 21st Century Fox Inc. from $35 to $34, noting it is “waiting for evidence” of a recovery in earnings.
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Credit Suisse also slightly raised its price target on hedge fund favorite Hertz Global Holdings from $21 to $22, noting that the car rental giant provided “better visibility” on its recent investor day.
