Funds
Global hedge funds recorded their largest monthly drawdown since January 2022 as market turbulence linked to the Iran conflict weighed heavily on equities, according to a report by Reuters citing a recent client note from Goldman Sachs.
London-based hedge fund Kite Lake Capital Management has secured approximately $700m in new capital. The firm briefly reopened its flagship KL Special Opportunities Fund for subscriptions before closing it again, according to a report by Bloomberg.
London-based Pelham Capital is plotting a return to the hedge fund arena with a new vehicle, seeking to rebuild after a challenging period that saw the firm’s assets shrink from $4.5bn in 2020 to around $1bn by 2023, according to a report by the Financial Times.
Significance Capital Management, led by founder and CIO Ryan Isherwood, and co-portfolio manager Michael W Klenn, has launched, positioning itself as an investment firm specialising in capturing opportunities around market inflection points.
Blackstone is preparing to launch its first hedge fund tailored to high-net-worth individual investors (HNWI), marking a further push by the alternatives giant into the private wealth channel, according to a report by Bloomberg.
Northern Trust Hedge Fund Services has been selected to provide middle office services and fund administration to Moorstone, an independent, directly registered investment advisor focused on the global commodity supply chain.
Veteran hedge fund manager Guy Spier is returning capital and closing his Aquamarine Fund, pointing to both personal considerations and mounting structural challenges facing active equity managers, according to a report by Investing.com.
Six Flags Entertainment has appointed Richard Haddrill as Executive Chairman, as activist investor Jana Partners steps up pressure on the theme park operator to explore a potential sale, according to a report by Reuters.
Bonds issued by semi-liquid private credit funds had already been under pressure before recent investor redemptions, highlighting underlying stress in the $2tn sector, according to a report by Reuters citing analysis by hedge fund Fourier Asset Management.
Activist ADW Capital has called on Driven Brands to launch an immediate strategic review, urging the automotive services group to consider a sale or break-up, according to a report by the Wall Street Journal.
