Managers
Jonathan Xiong, the former co-CEO of Millennium’s Asia operations, has launched a new hedge fund, Arrowpoint Investment Partners, which began trading on Monday with over $1bn in assets and more than 15 portfolio managers, according to a report by Business Insider.
Hedge funds missed out on Monday’s post-French election surge in banking sector stocks after exiting their positions betting on a rise in sector prices last week at the fastest rate seen since May 2021, according to report by Reuters.
In a significant restructuring of its real estate and equities divisions, Seth Klarman’s Baupost Group has cut approximately 19% of its investing staff, the largest staffing in the hedge fund’s 42-year history, according to a report by Bloomberg.
Pershing Square, the hedge fund led by Bill Ackman, is set to sell shares at $50 each in its upcoming initial public offering in New York. While the date of the IPO has yet to be set, shares will be listed under the ticker symbol “PSUS”, according to a report by BayStreet.
Taproot Management, a new hedge fund with a planned $500m launch next year, is forgoing expensive portfolio managers in favour of a team of analysts, according to a report by Bloomberg.Â
The Internal Revenue Service has formally apologised to Ken Griffin, founder of hedge fund giant Citadel, following the unauthorised release of his tax returns, according to a report by the Wall Street Journal.Â
Pierre Andurand’s hedge fund firm Andurand Capital Management will continue to bet on copper and cocoa futures despite recent price declines from their all-time highs earlier this year, according to a report by Bloomberg citing an investor letter.Â
Multistrategy hedge fund DE Shaw is raising capital for DE Shaw Diopter International Fund II as well as its counterpart, DE Shaw Diopter Fund II, according to a report by Institutional Investor citing regulatory filings.Â
Former Segantii Capital Management trader Robert Gagliardi has been implicated in a series of block trades involving insider information from Morgan Stanley, according to a report by the Financial Times.Â
Crispin Odey has disclosed a £37.1m ($47m) goodwill impairment due to the closure of London-based hedge fund firm Odey Asset Management, according to a report by Bloomberg citing a registry filing.Â
