Pinterest has raised another $150 million, boosting its valuation to $12.3 billion, making it one of the most valuable private companies. According to Bloomberg, the social bookmarking company received an investment from previous investors, but their identities were not disclosed. However, according to sources, the investor is not Valiant Capital Management, the hedge fund firm headed by Chris Hansen, which has made three investments in the company dating back to 2013. Its domestic partnership, Valiant Capital Partners, reports that its most recent investment in the company was made in February 2015. Pinterest reportedly has 175 million monthly visitors, who post and search for images related to food, fashion, travel and other topics, points out Bloomberg, which reported the fund raise. The website also allows visitors to use cell phone images to search for similar items.
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North Tide Capital, the hedge fund that specializes in health care stocks, has sold positions in two different companies. It nearly halved its stake in Vivus to five million shares, or 4.73 percent of the drug-development company focused on obesity, as of May 17. Separately, the hedge fund firm disclosed that as of May 18, it liquidated its stake in Quorum Health Corp. As of the end of the first quarter, it held 1.59 million shares of the hospital operator. As of March 31, Tide Point held positions in stocks of 15 different U.S. companies as well as put options on a health care exchange traded fund. We previously reported North Tide posted a 7.5 percent loss in the March three-month period after losing 3.2 percent last year.
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Shares of E.ON, a favorite stock of Dan Loeb’s Third Point, surged 5.65 percent on Wednesday to close at $8.45 after it was reported that the German utility operator was discussing the sale of its stake in Uniper, a hydroelectric-to-energy storage conglomerate, to Finland’s Fortum Oyj.
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The HFRI Fund Weighted Composite Index rose 0.5 percent in May, boosting its gain for the year to 3.5 percent. This is the seventh straight profitable month for the index and the fourteenth out of the past 15 months. Gains in May were driven by exposures to currency and technology, according to HFR. The HFRI Event-Driven (Total) Index rose 0.6 percent in May, the eleventh straight monthly gain. The index is up 3.9 percent this year.
