SoftBank Liquidates Most of Portfolio at ‘Nasdaq Whale’ Unit: FT
April 2, 2022, 7:47 AM EDT SoftBank has closed most of its positions within the inner hedge fund SB Northstar following losses of between $6 billion and $7 billion from the so-called ‘Nasdaq whale’ trades, the Monetary Occasions experiences, citing an unidentified particular person aware of the matter.
Citing regulatory filings, the Monetary Occasions reported Saturday that Northstar’s funding supervisor, SB Administration, held a bit greater than $1 billion in U.S. listed shares on the finish of 2021, down from greater than $17 billion a 12 months earlier. The vast majority of their European investments have been additionally dissolved throughout the identical interval, which included a $5 billion wager on drug-maker Roche Holding AG, the particular person informed the FT. The ‘handful’ of positions left had been transferred to SoftBank Group, FT reported.