Managers
Saba Capital Management, the US-based activist hedge fund led by Boaz Weinstein, has disclosed new positions in two UK-listed investment trusts, as it looks to continue campaign to extract value from closed-end vehicles trading at persistent discounts to NAV, according to a report by CityWire.
Cantor Fitzgerald has struck a deal to acquire UBS’s O’Connor alternatives investment platform, adding $11bn in hedge fund, private credit, and commodities assets to its books in a major expansion of its asset management division.
Gavea Investimentos, the hedge fund founded by former Brazilian central bank governor Arminio Fraga, has shifted its investment strategy toward a more macro and global approach in response to rising volatility and challenging conditions for stock-pickers, according to a report by Bloomberg.
The Shanghai Futures Exchange has unveiled a comprehensive set of proposals aimed at opening China’s commodities markets to foreign hedge funds and institutional investors, as part of a broader push to internationalise the renminbi, according to a report by Reuters.
Saba Capital Management has reached a deal with CQS Natural Resources Growth & Income Trust (CYN) that will see the £74m closed-end fund offer a 100% tender at net asset value, following a period of shareholder engagement led by the US activist hedge fund.
A $10bn wager by merger arbitrageurs on Chevron’s $53bn acquisition of Hess Corp is approaching a pivotal juncture, as ExxonMobil’s legal challenge to the deal enters a critical phase this week, according to a report by Bloomberg.
In a significant repositioning, hedge funds sharply increased their net-long exposure to Brent crude futures as the probability of a swift US-Iran nuclear accord diminished, raising concerns over potential disruptions to Iranian oil supply, according to a report by Bloomberg.
Croatian fund manager Mathematica Capital Partners has announced the launch of its second hedge fund, Zenith, as it looks to capitalise on increased market volatility and demand for sophisticated investment strategies, according to a report by SeeNews.Â
Pershing Square Capital Management, the hedge fund led by billionaire activist investor Bill Ackman, has initiated a new position in Amazon, while exiting Canadian Pacific, as part of a broader portfolio reshuffle, according to a report by Reuters.
A sharp rise in long-term US Treasury yields is placing renewed pressure on a widely held hedge fund strategy predicated on the relative outperformance of government bonds versus interest rate swaps, according to a report by Bloomberg.
