Managers
Point72, the hedge fund led by billionaire Steve Cohen is expanding its macro trading team, according to a report by Bloomberg. According to the report, Cohen’s hedge fund is seeking to diversify its business, valued at $31bn
Hedge funds sold financial stocks for a 10th week running and have the lowest exposure to the sector since March 2020, when the COVID-19 crisis roiled markets, according to a report by Reuters. The report cites a Goldman Sachs G.S.N note.
Vista, a Rio de Janerio based hedge fund has built a modest position in ADRs of Argentine banking stocks in the run-up to Javier Milei’s victory over Sergio Massa last month. It has left its holdings unchanged since then, according to a report by Bloomberg.
Hedge funds have remained bearish on oil prices, with traders concluding that Saudi Arabia and its OPEC+ partners can’t or won’t do more to reduce output in the short term, according to a report by Reuters. The report noted that hedge funds and other money managers sold the equivalent of 58 million barrels in the six most important petroleum futures and options contracts over the seven days ending on Dec. 5.
TOP STORY: Boaz Weinstein, the founder and chief investment officer of Saba Capital Management, has won a lawsuit against asset manager BlackRock over the control of a group of closed-end funds, according to a report by Observer.
Thomas Rice, an Australian hedge fund manager, has teamed up with Grok Ventures portfolio manager Armina “Arms” Rosenberg, to launch Minotaur Capital Management – a new Sydney-based long-short global equity investment manager, according to a report by the Australian Financial Review.
Arni Hedge Funds, run by former Credit Suisse trader Hamza Lemssouguer, is targeting an expansion of its CLO business in Europe, by prepping for two more deals, according to a report by Bloomberg.
TOP STORY: Freestone Grove Partners, a to- launch hedge fund run by Citadel alum Todd Barker, has raised $3.5bn, for what is being termed as an ‘anti-pod’ manager. Debuting in January ’24, the fund will invest across six sectors, according to a report by Bloomberg.
Sanjay Shah, the British hedge fund trader extradited from Dubai to Denmark this week to face criminal charges related to so-called “cum-ex” trading schemes, will remain behind bars ahead of his trial next month, according to a report by Bloomberg.
According to Man Group CEO, Robyn Grew, not a client discussion has gone by this year without the subject of AI coming up. The hot topic was discussed at a media roundtable at Man’s London HQ this week with the firm’s top technologists discussing the power, but also limitations, of artificial intelligence in their business.
