Managers
Hedge fund Sculptor Capital Management, which in July agreed to be acquired Rithm Capital Corp in a deal valued at about $639m, has rejected an unsolicited rival bid from a group of hedge fund investors including Boaz Weinstein and Bill Ackman.
In a statement issued on Sunday in response to “a media inquiry”, Sculptor wrote: “We have received an unsolicited proposal from a third party that had participated in the strategic alternatives process. This bidder has not demonstrated adequate committed funding for any of its bids.”
The unsolicited bid, believed to be from the group led by Weinstein, is worth
The latest data from Goldman Sachs Group’s prime brokerage unit shows that hedge funds upped their short bets in eight out of the 10 previous sessions up to last Monday having rushed to unwind bullish stock bets as the recent stock market rally slowed, according to a report by Bloomberg.
Bell Rock Capital Management, a London-based hedge fund focused on equity market neutral and merger arbitrage strategies, is opposing Whitehaven Coal’s proposed multi-billion dollar deal to acquire two major BHP mines, according to a report by the Australian Financial review.
Oceanwood Capital Management, the hedge firm co-managed by Julian Garcia and Christopher Gate, is closing down, with Deputy CIO Garcia now planning launch his own hedge fund firm next year, according to a report by Bloomberg.
When the stock market rally that saw the benchmark S&P 500 soar this year began to lose steam in late July, Bridgewater Associates’ flagship Pure Alpha fund was already “moderately” bearish on US stocks, according to a report by Reuters.
TOP STORY: Michael Burry, famed for his winning wagers against the US housing market ahead of the 2008 global financial crisis and subsequent appearance in ‘The Big Short’ book and film, is betting on a downturn in the US stock market, according to a report by Market Insider.
Pentwater Capital Management, Jericho Capital Asset Management, Balyasny Asset Management, and Citadel Advisors, all upped their holdings in Activision Blizzard during Q2 ahead of a key court ruling on the video-game maker’s proposed $69bn merger with Microsoft, according to a report by Bloomberg.
Private equity firms, including buyout major KKR & Co, are beginning to add hedge funds to their ‘white lists’ of approved lenders used to arrange funding for leveraged buyout deals, according to a report by Bloomberg.
Continued concerns over China’s economic prospects, coupled with ongoing geopolitical tensions, saw several US-based hedge funds including Coatue, D1 Capital and Tiger Global cut their exposure to Chinese companies in Q2, according to a report by Reuters.
Several hedge funds including Basswood Capital, Adage Capital Partners and Tudor Investment Corp placed bets on real estate investment trusts that specialise in New York City office space in Q2, despite continued uncertainty over the impact work-from-home policies on the market, according to a report by Reuters.
