Managers
Millennium Management, the multi-strategy hedge fund major founded by Izzy Englander, is aiming to raise between $7bn and $10bn in new capital as part of a strategy to secure a more permanent funding structure for the firm, according to a report by Bloomberg.
Concerns over the impact on oil furures prices from a potential oversupply have seen hedge funds turn net bearish on Brent crude for the first time ever, according to a report by Bloomberg citing data from ICE Futures Europe and the Commodity Futures Trading Commission.
August proved to be a strong month for hedge funds specialising in life sciences and biopharma stocks, with several firms reporting solid gains that helped many return to positive territory for the year, according to a report by Institutional investor.
Hedge funds are ramping up wagers on the yen’s continued strength, with the Japanese currency surging by another 1% on Friday, as traders bought options against the Australian dollar, Swiss franc, and offshore Chinese yuan, according to a report by Bloomberg.
Arrowpoint Investment Partners, one of the largest hedge funds launched in Asia this year, is rapidly expanding its presence in Hong Kong and has taken on an entire floor at the newly built Six Pacific Place in Wanchai, according to a report by Reuters.
TOP STORY: Steve Cohen’s Point72 Asset Management is preparing to return a significant portion of capital to investors for the first time, joining other large multi-strategy hedge funds that are capping assets after a period of rapid growth, according to a report by Bloomberg.
Elliott Advisors, the UK arm of activist hedge fund giant Elliott Investment Management, significantly boosted pay for its directors last year, despite a slight drop in revenue, according to a report by Financial News.
Southwest Airlines revealed significant changes to its board of directors on Tuesday, including the upcoming departure of executive chairman Gary Kelly, following pressure from Elliott Investment Management, the activist hedge fund pushing for sweeping reforms at the company.
ExodusPoint, the $11bn hedge fund led by former Millennium executive Michael Gelband, has responded to investor pressure by introducing a new fee structure, tying performance fees to short-term Treasury yields, according to a report by Business Insider.
Alan Howard, co-founder of Jersey-headquartered global macro hedge fund major Brevan Howard Asset Management, is considering relocating from London to Geneva, according to a report by Bloomberg citing sources familiar with the matter.
