Managers
Rhode Island-based casino and gaming operator Bally’s Corporation is to be acquired by its largest shareholder, hedge fund Standard General, in a deal valued at $4.6bn, including debt, according to a report by the Business Journals.
Morgan Stanley has revealed that computer-driven macro hedge fund strategies initiated a significant stock sell-off on Wednesday, shedding $20bn in equities, with the bank’s prime brokerage desk anticipating an additional $25bn in equity sales over the next week, according to a report by Reuters.
Hermes Li’s Aspex Management, one of the largest hedge funds in Asia, has reported a strong performance in the first half of 2024, with a 21% return, significantly boosting its AUM to over $9bn, according to a report by Bloomberg.
Bill Ackman has announced a significant reduction in the fundraising target for his new US-listed fund, Pershing Square USA, citing investor apprehensions about the fund’s structure and cash deployment strategy, according to reports.
A coalition of hedge funds invested in Ukraine, including Aurelius Capital Management and VR Capital Group is gearing up for debt-restructuring negotiations with the Ukrainian government to rework approximately $2.6bn in GDP warrants, according to a report by Bloomberg.
Ken Griffin, the founder of Citadel, has significantly increased his stake in Sphere Entertainment to 5.3%, according to a recent SEC filing. Having previously held a 1.6% stake in Sphere through Citadel, Griffin added more than 900,000 shares since April 1, bringing his total holdings to 1.5 million shares.
Hudson Bay Capital Management has joined a growing list of hedge funds that are locking up investor capital for longer by limiting quarterly withdrawals, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Chinese computer-driven “quant” hedge funds experienced significant losses in the first half of the year, underperforming traditional stock strategies domestically and other popular global fund strategies, according to a report by Reuters.
News that activist investor Nelson Peltz’s Trian Fund Management has acquired a significant stake in Solventum, the healthcare spinoff from 3M, prompted a 3.4% surge in the company’s shares in after-hours trading on Monday, according to reports.
Igor Tulchinsky’s WorldQuant, which previously managed capital exclusively for multi-strategy major Millennium Management, is now managing $10bn in assets for other clients, according to a report by Bloomberg.
