Funds
Global hedge funds recorded an average gain of 2.14% last December according to the gross return of the SS&C GlobeOp Hedge Fund Performance Index for the month, while hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index declined by 2.37% in January.
Hedge funds continued their run of positive performance last December, notching up an overall weighted return of 2% for the month according to new data from Citco, the global alternative investment asset servicer with over $1.8tn in AUM.
Light Street Capital, a California-based alternative investment firm focused on equity investments in the technology and media sectors, posted a 46% gain for its Mercury hedge fund in 2023, according to a report by Reuters.
Two of the main funds at Caxton Associates, one of the oldest and best-known global macro hedge fund managers, lost money last year as 2023 proved to be a turbulent year for bond markets, according to a report by the Financial Times.
Gains from a series of winning bets on catastrophe bonds helped hedge fund Fermat Capital Management, one of the world’s largest investors in insurance-linked securities, record its best annual performance since the firm launched over 20 years ago, according to a report by Bloomberg.
Bobby Jain’s new multi-manager hedge fund firm Jain Global may come up short in its bid to be crowned the industry’s largest ever launch, with the fund struggling to reach its original $8bn to $10bn fundraising target, according to a report by the Financial Times.
Sandbar Asset Management, the investment firm founded by former Millennium Management trader Michael Cowley, has shut down its hedge fund after struggling to grow assets, according to a report by Bloomberg.
Activist hedge fund firm JANA Partners, which in the past has engaged in campaigns to force change at companies including Whole Foods and Frontier Communications, recorded a 31% gain for 2023, according to a report by Reuters.
Chris Rokos and his fellow partners at Rokos Capital Management paid themselves £445m ($563m) for the year ended March 2023, after the macro hedge fund produced its best ever gains in 2022, according to a report by Bloomberg.
Sean Gambino, who closed his own Heron Bay Capital hedge fund firm in 2022 to join Eisler Capital, is leaving the multi-strategy investment firm to set up on his own again, according to a report by Bloomberg.
