UK hedge fund manager Man Group has agreed to acquire a 51% stake in Asteria, an ESG-focused boutique money manager owned by Italian private bank Fideuram – Intesa Sanpaolo Private Banking, which will retain the other 49% of the business. 

Bowmoor Capital, a London-based trend following, global macro hedge fund manager, is making is flagship long/short, systematic, quantitative Global Alpha strategy, which is designed to benefit from price trends in global markets, available to outside investors for the first time, according to reports. Bowmoor is to launch a new Guernsey-based fund on 1 August anchored by seed investors including London-based investment firm Peregrine & Black. According to the firm’s website, Global Alpha uses sophisticated mathematical processes to identify and exploit market trends, investing in a diversified portfolio of globally exchange traded futures including stock markets, interest rates, foreign exchange, metals,

Activist hedge fund Starboard Value LP has built a 5% holding in Algonquin Power & Utilities Corp because it believes shares of the business are “undervalued” and represent an “attractive investment opportunity”, according to a report by Reuters. The report cites a regulatory filing made in Friday as confirming Starboard’s stake in the company, which owns and operates regulated utilities, as well as power generating and water assets, across Canada and the United States. According to Algonquin’s website, the company’s regulated business serves more than one million customers. In May, Algonquin, which has sizeable debt pile of around $7.5 billion

Geopolitical tensions which have made investing in China more difficult, have led to Yulan Capital Management, a hedge fund firm backed by Tiger Management, closing down its operations in New York and Shanghai, according to a report by Bloomberg. The report cites unnamed sources with knowledge of the matter as confirming that the firm wound down operations in December and terminated its registration with the US Securities and Exchange Commission (SEC) at the end of January. Yulan, which was founded ten years ago by Shanghai native Lilian Zhou to bet on rising and falling stocks in Asia, with a focus

Tiger Global Management, the hedge fund firm founded by Chase Coleman, has rejected hundreds of bids for its private company stakes in recent months, because the offers received were deemed to be too low, according to a report by The Economic Times. The report cites unnamed sources as revealing that with limited opportunities for initial public offerings, the firm wanted to sell hundreds of millions of dollars in stakes in mid- and late-stage startups to provide cash distributions to investors in some of its older funds.  Some assets though, were purchased when valuations were significantly higher, meaning that many of

The turmoil in the weeks following the emergency rescue of Credit Suisse by rival UBS Group proved to be a profitable time for GoldenTree Asset Management, with the hedge fund making a profit of around $100 million from a bet on Additional Tier 1 (AT1) bank bonds, according to a report by Bloomberg. The report cites unnamed sources with knowledge of the matter as revealing that the hedge fund, a specialist in credit trading, bought roughly $300 million of AT1 bonds issued by various banks at discount prices after $17 billion of Credit Suisse bonds were wiped as part of

External auditors have concluded SES Imagotag did not overstate revenue or buy and sell repeatedly on round trip transactions between its Chinese business partner, BOE, as claimed recently by short seller Gotham City Research, according to a report by Reuters. The report says a certificate provided by auditors Deloitte and KPMG shows that transactions between the French smart digital labels specialist and BOE totalling some €53.1 million euros were neutralised and not part of its €620.9 million revenue as at 31 December, 2022. SES Imagotag said in a statement: “This invalidates the central argument on which Gotham City’s report based