Funds
Qin Xiao, the former Co-Head of Goldman Sachs’ global commodities trading unit, has raised around $1bn from Millennium Management to seed his new hedge fund, Nexus Commodities Capital Management, according to a report by Bloomberg.
Tiger Global Management gained 2.8% in July, bringing year-to-date returns to 7.5%, but still lags behind several fellow “Tiger Cub” hedge funds, according to a report by Bloomberg citing unnamed people familiar with the numbers.
Rob Citrone’s Discovery Capital has continued its strong performance in 2025, with the Discovery Global Opportunity fund posting a 4.2% return in July and lifting year-to-date gains to 17.5%, according to a report by Financial News citing unnamed sources.
Hedge funds delivered a 1.25% gross return in July, according to the SS&C GlobeOp Hedge Fund Performance Index, while the SS&C GlobeOp Capital Movement Index showed net inflows of 0.63% in August – a sharp improvement on the 0.17% seen a year earlier.
Lorenzo Rossi’s London-based hedge fund Kedalion Capital Management is preparing to open to outside investors for the first time since securing backing from Izzy Englander’s Millennium Management, according to a report by Bloomberg.
Ryan Foster, a former senior portfolio manager at Millennium Management and ex-Soros credit investor, is launching a new credit hedge fund, Extant Capital, with $200m in seed capital from New Holland Capital, a $6bn alternative investor in external funds.
Renaissance Technologies, the systematic hedge fund firm founded by mathematician and former Cold War code breaker Jim Simons, saw its difficult summer continue in July, as the quant pioneer posted further losses across key strategies, according to a report by Business Insider.
Carl Icahn’s private investment fund posted another quarterly loss in Q2, falling 0.5% and taking year-to-date declines to 8.8%, according to a report by Institutional Investor citing Icahn Enterprises’ latest filing.
A surge in investor appetite for artificial intelligence exposure is driving a new generation of hedge funds targeting the sector, with several high-profile launches amassing multi-billion-dollar asset bases in record time, according to a report by the Wall Street Journal.
DE Shaw’s $60bn hedge fund platform saw a sharp late-month rebound in July, with its macro-focused Oculus fund surging 4.6% in the final week to finish the up 4.4% for the month, according to a report by Bloomberg citing an investor letter.
