With market conditions for US stock-pickers becoming more favourable, hedge funds are positioning accordingly by ramping up their use of leverage as they look to reap gains from outperforming stocks, according to a report by Bloomberg.
Over 50 hedge funds are currently in discussion with Dubai’s financial centre over establishing a presence in the Middle East business hub after a number of the sector's big beasts, including Millennium Management and Exodus Point Capital, opened operations in the Dubai International Finance Centre, according to a report by Bloomberg.
Christopher Hohn, founder of the London-based hedge fund TCI Fund Management, has written to European aerospace giant Airbus demanding that the company ditch its plans to acquire a minority holding in Evidian, a division of Atos, which is soon to be spun off from the French IT consulting firm.
Active Digital, a new digital asset hedge fund firm, has launched with a team of experienced traders providing a collective 27 years of crypto trading experience. The firm has already begun trading with personal capital and is seeking investments from funds of funds and family offices.
Elliott Investment Management has ruled itself out of making a formal bid to acquire Manchester United, but is keen to be involved in providing finance for the Red Devils, a move that could allow current owners, Joel and Avram Glazer, the club's co-chairs, to remain in control of the club, according to reports.
Fallout from the collapse of Sam Bankman-Fried's cryptocurrency empire continues to impact the hedge fund world with news that Galois Capital, one of the world's largest crypto-focused hedge funds is to shut down after losing a large chunk of its capital in the collapse of FTX, according to a report by the Financial Times.
Antara Capital, a New York-based, event-driven hedge fund launched by Himanshu Gulatis in 2018 with start-up capital from the Blackstone Group, has acquired a 6.4% stake in GAN, Dermot Smurfit’s Nasdaq-listed gambling technology firm, according to a report by the Business Post.
Hedge fund Luxor Capital Group has stepped up its opposition to a proposed $6 billion deal by Ritchie Bros Auctioneers Inc to acquire a rival firm, saying company executives have strengthened their case for the takeover by manipulating forecasts, according to a report by Bloomberg.
Activist hedge fund Oasis Management has ramped up the pressure on Wagamama owner The Restaurant Group to overhaul its business strategy by penning an open letter outlining its concerns, according to a report by The Independent.
Hedge funds raced to cover their short wagers on US technology sector stocks at the second fastest rate in ten years during the first half of the month, as the recent market rally continued, according to a report by Reuters.