Funds
Hedge funds lost 0.71% in February paring year to date gains to 2.58%, according to the latest data from Bloomberg, with commodities funds seeing the biggest decline over the month with a 3.36% fall.
Apjit Walia, a tech veteran with over 20 years experience researching technology companies as a sell-side analyst, and running portfolios at some of the largest global macro hedge funds, is launching DVN Capital, a global macro and technology hedge fund.
Digital asset investment products saw outflows for the fifth consecutive week last week, totalling $255 million, the largest single weekly outflows on record representing 1.0% of total AuM, according to the latest Digital Asset Funds Flows Weekly report from CoinShares.
Angelo Gordon, a $53 billion alternative investment firm focused on credit and real estate investing, has expanded its distressed and corporate special situations platform by raising $1.3 billion the AG CSF2A (Annex) Dislocation Fund.Â
The Prime Meridian Special Opportunities Fund, which invests in the insurance, litigation and specialty credit sectors, has been ranked as by BarclayHedge as the No1 performing hedge fund by compounded annualised return, in the Fixed Income – High Yield category for 2022.
The Prime Meridian Income Fund, meanwhile, which invests in the consumer, small business, real estate and specialty credit sectors, was ranked as the No2 performing hedge fund by Sharpe Ratio, in the same category.
Prime Meridian Capital Management has 23 counterparties, and the funds are valued monthly by a third party valuation agent using a Discount Cash Flow (DCF) methodology.
Global hedge funds saw a 0.5% decline in February according to the performance of the HFRI Fund Weighted Composite Index, on the back of weak equities performance, ongoing generational inflation, higher interest rates and the possibility of a recession in 2023.
Bainbridge Partners is to acquire three alternatives strategies from GAM Investments – GAM Opportunistic Credit, GAM Diversity and GAM Trading II – with combined assets of 80 million Swiss francs ($87 million), according to a report by Pensions & Investments.
The report cites Bainbridge CEO Antoine Haddad as confirming the transfer, which is expected to be completed at the end of March.
The three funds are all moving from GAM’s $200 million alternative investment solutions platform, which the firm announced in November of last year that it was planning to close and return assets to investors.
A new fund set to be launched by Todd Barker, the former head of the Surveyor Capital unit at Ken Griffin’s Citadel, is expected to raise over $1 billion making it one of the largest launches of the year, according to a report by Bloomberg.
Bridgewater Associates has raised over $800 million for a new hedge fund strategy designed to protect investments during equity bear markets by generating returns negatively correlated to equities, according to a report by Reuters.
Coinbase has acquired One River Digital Asset Management, a digital asset manager and SEC-registered investment adviser, from One River Asset Management, according to a report by the Wall Street Journal.
