Managers
An affiliate of hedge fund Elliott Investment Management has increased its bid for PDV Holding, the US parent of Venezuela-owned refiner Citgo Petroleum, to $8.82bn amid a heated court-supervised auction in Delaware, according to a report by Reuters.
Activist investor 7Square is pressing German insurer Nuernberger Beteiligungs AG to consider rival takeover offers, arguing that the ongoing exclusive talks with Vienna Insurance Group (VIG) undervalue the company, according to a report by Bloomberg.
Seth Klarman, head of the Boston-based multi-strategy hedge fund firm Blaupost Group, says artificial intelligence is proving useful as a productivity tool at his hedge fund, but it is far from replacing human investment judgement, according to a report by Business Insider.
Global hedge funds have ramped up exposure to Japanese equities as the Nikkei surged to record highs, while increasing bearish positions on South Korea, according to a report by Reuters citing a note from Morgan Stanley.
Man Group’s £2.45bn Japan CoreAlpha Fund has begun selectively adding Japanese bank stocks, betting that the Bank of Japan (BOJ) will eventually raise rates to tackle persistent inflation, according to a report by Bloomberg.
Hedge fund manager Daniel Loeb is locked in a dispute with investors over plans to convert his London-listed vehicle, Third Point Investors Limited (TPIL), into a Cayman Islands-based reinsurer according to a report by the Financial Times.
The US Court of Appeals for the Third Circuit has ruled that Sculptor Asset Management cannot pursue its own securities lawsuit against healthcare products provider Perrigo after missing the deadline to opt out of a $97m shareholder class action settlement.
Edge Funds | Singapore-based Vulpes Investment Management launched new investment funds in May, reviving strategies from a hedge fund that peaked at nearly $5bn before the 2008 financial crisis.
Hedge funds are increasingly approaching private equity firms to trade complex “deal-contingent” currency derivatives directly, threatening to sideline investment banks that have long dominated this niche market, according to a report by IFR.
Activist hedge fund Engine Capital has taken a roughly 3% stake in life-sciences company Avantor and is poised to press for significant changes, including the possibility of a sale, according to a report by the Wall Street Journal citing sources familiar with the matter.
