Managers
Activist investor Hestia Capital Management has had four of its five director candidates elected to the board Pitney Bowes following a campaign criticising the century-old shipping-services company’s capital allocation and lagging share price, according to a report by Reuters.
As well as the four candidates proposed by Hestia, which is the company’s third largest shareholder with a 9.1% stake, Pitney Bowes said a preliminary vote count showed that shareholders had also re-elected three other directors, including current chief executive Marc Lautenbach, and selected two directors nominated by the company.
Hestia has been agitating for Pitney Bowes to explore alternative strategies
Emerging alternative investment managers are prioritising the acquisition of top talent, and investments in third-party data providers and technology platforms as they look to grow their businesses in 2023, according to a new report by alternative investments fintech Dynamo Software.
Hedgeweek exclusive: Gary Collier (pictured), the CTO of Man Group’s front office tech platform, Man Alpha Technology, discusses the evolving challenge of extracting value from data, and the technology Man Group has created to help.
Activist hedge fund Covalis Capital has won the backing of Norway’s sovereign wealth fund (SWF) for Marco Mazzucchelli, its candidate for chairman of Italian utility Enel, as opposition to the proposed appointment of Paoloa Scaroni grows, according to a report by Reuters.
Moritz Seibert and Moritz Heiden, the duo behind Twoquants.com, a website launched in 2018 to write about quantitative trading strategies, have launched Takahē Capital, a hedge fund that provides investors with access to their quantitative trading strategies, according to a report by AlphaWeek.
Oasis Management Company, the Hong Kong-based activist hedge fund seeking a leadership overhaul at Wagamama owner The Restaurant Group, has secured the backing of an influential shareholder advisory group in its protest against chief executive Andy Hornby’s pay deal.
US stocks may have consistently outperformed their international peers over the past three decades, but AQR Capital Management’s co-founder and CIO Cliff Asness believes that streak could be ending and international equities may be a better bet for US investors, according to a report by Fortune.
Louis Bacon, the founder and chief executive of New York-based global macro hedge fund Moore Capital Management, ‘made’ $203 million this week, but the cash came from the resolution of a long-running court battle rather than any trading prowess, according to a report by the Financial Times.
A New York judge awarded Bacon the money in damages at the end of a bitter and long-running defamation case against his former Bahamas neighbour, Canadian fashion mogul Peter Nygard.
The feud between Bacon and Nygard has its roots in noise issues from loud parties at Nygard’s Robinson Crusoe-themed property in the Bahamas
A $12.7 billion venture capital fund set up by New York-based hedge fund Tiger Global Management in October 2021 to support tech startups, has been hit hard by a decline in tech sector valuations with the fund suffering a 20% net loss as of December last year, according to reports.
Hedge fund managers at a major industry conference have said that they are favouring fixed income, over stocks and real estate amid an uncertain interest rate outlook and fears of a recession and US debt default, according to a report by Benzinga.
