Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- We've got five key details from insurance startup Hippo's S-4 outlining its plans for growth as it prepares to go public via SPAC.
- The market for volatility traders is hot, with Jane Street poaching Aaron Katzman, a Barclays MD, to focus on single-stock options.
- Find out how Fidelity's $110 billion Contrafund values stakes in unicorns like SpaceX and TikTok parent ByteDance.
Hippo's CEO discusses 5 key details in its S-4 filing as the $5 billion startup aimed at modernizing insurance goes public via LinkedIn cofounder Reid Hoffman's SPAC
As the home-insurance startup prepares to go public via a SPAC, we did a deep dive on Hippo's recently filed S-4. From its use of AI for pricing and risk management to its approach to regulators, this is everything you need to know ahead of its public debut.
Jane Street has poached a senior derivatives trader from Barclays to navigate the wild swings of stocks like Tesla and GameStop
With stocks like Tesla and GameStop moving violently throughout 2021, volatility traders are in high demand. For Jane Street, that means nabbing Aaron Katzman, a Barclays MD, who will join as a single-stock options trader. Read more about his move.
Fidelity's massive Contrafund has billions invested in private companies. Here's how it values 23 names including SpaceX, WeWork, and ByteDance.
Fidelity's $110 billion Contrafund holds stakes in some of the biggest private companies in the world. We took a deep dive into how the fund values its stakes, and how it has changed since last year. Here's what we found.
Evercore told incoming summer analysts they'll begin internships virtually, adding that they're 'not required' to be based near its office sites
Evercore is opting to start incoming summer analysts off virtually. But the boutique bank mentioned the possibility of some optional, in-person experience, if conditions permit. Get the lowdown here.
Jeffries Financial Group is the latest Wall Street firm to announce a virtual summer internship. Get the details.
We've also assembled a list investment banks' and hedge funds' summer internship plans. It's available here.
Wilson has worked at Balyasny since 2019, joining after nearly a decade at Ken Griffin's Citadel. Read more here.
Arora has been at Citi since 1988 and previously led a fintech investment portfolio within the markets and securities services group. We've got the full memo announcing his appointment.
Deputy general counsel Rick LeBrun is taking on a role in Pimco's alternatives unit. Meanwhile, Nadia Zakir has been named deputy GC and Sung-Hee Suh as chief compliance officer. Read more about the moves here.