Managers
Over half of systematic hedge funds surveyed or interviewed for a new report by Acuiti – Bringing the case for buy-and-build to the front office – are utilising a combination of both outsourced strategies and in-house development to build their front office technology stacks.
Teleios Capital Partners, an activist hedge fund based in Zug, Switzerland has upped its stake in Irish housebuilder Glenveagh Properties from 16% at the end of last year, and now has a 18.6% holding in the business, according to a report by the Irish Times.
Teleios’ acquisition of additional Glenveagh shares comes just as Singaporean sovereign wealth fund GIC, one of the main backers of the company’s IPO back in 2017, has cut its stake by a third in recent weeks to 6.3 per cent, having sold 21.7 million shares so far this year at an average 7% discount to
Oasis Management, an activist hedge fund based in Hong Kong, has acquired a 5% stake in The restaurant Group, the casual dining and pub operator and owner of the UK-based, Japanese food-inspired restaurant chain Wagamama, according to a report by the Financial Times.
The report cites a company filing as revealing that Oasis, which owns 423 venues across the UK, including the Mexican themed Chiquito restaurant chain and Italian-American themed Frankie & Benny’s, in November last year.
Oasis has a track record of agitating for change in UK businesses having at one point acquired nearly a fifth of the shares
Ken Griffin’s Citadel is now the best ever performing hedge fund in terms of annual returns having chalked up a $16 billion profit for investors in 2022 on the back of a raft of winning wagers including bonds and equities, according to a report by the Financial Times.
Activist investor Elliott Management Corp has acquired a multi-billion dollar holding in cloud-based software firm Salesforce Inc, but has yet to reveal its strategy for increasing value at the company, according to a report by Reuters.
The report cites a statement by Jesse Cohen, managing partner at Elliot, as saying that: “We look forward to working constructively with Salesforce to realise the value befitting a company of its stature”.
Cohn has past experience of working with technology companies having previously served on the boards of both Twitter and eBay, while Elliot has made many tech-focused investments and recently saw portfolio
Steve Cohen’s Point72 has been granted regulatory approval in the UK, a decade after his previous firm paid a record $1.8 billion in fines after pleading guilty to insider trading charges, according to a report by the Financial Times.
The Financial Conduct Authority had turned down Point72’s applications two previous occasions following SAC Capital’s sanctions in 2013, ruling in 2018 that Cohen was not ‘fit and proper’ to offer his new fund to UK investors.
Point72 a former family office that opened to outside investors in 2018 and manages $26.7 billion in assets, will now be able to offer its
Activist investor Caius Capital has made an additional $11 million investment in Metro Bank taking its stake to 5% in total and making it one of the troubled challenger bank’s ten largest investors, according to a report by CityAM.
The new investment by Caius Capital, which focuses on “distressed and special situations”, comes a month after the Financial Conduct Authority (FCA) fined Metro Bank £10 million over an accounting scandal which has seen shares in the bank plummet since 2019.
As well as sanctions against the bank, the FC also ordered Former CEO Craig Donaldson, who was forced out in
Hedge fund managers and asset managers are more divided on their outlook for benchmark Treasuries than they have been since late 2018, when the Federal Reserve’s tightening cycle was about to peak, according to a report by Bloomberg.
The report cites data from the Commodity Futures Trading Commission as revealing that leveraged funds are bearish on 10-year bonds, while asset managers are bullish, with net-short leveraged positions having grown to their highest level since since 2019. More bullish institutional investor counterparts meanwhile, have seen net long positions climb to a record, in data, going back to 2006.
The rise in
Trian Fund Management, the activist hedge fund investment firm currently pushing for changes plus a seat on the board at Walt Disney Co, lost 10.6% last year as many hedge funds incurred losses on the back of market volatility, according to a report by Reuters.
Chinese equities are set to outperform their global peers during the first six months of this year as China fully reopens following the lifting of the country’s strict Zero Covid restrictions, according to hedge fund Carrhae Capital.
While the firm’s £322 million long-short strategy returned 15.3% last year, after fees, the report cites Singapore-based data provider Eurekahedge Pte as revealing that by comparison, emerging-market long-short equity hedge funds overall lost about 7% in the same period.
According to Ali Akay, Carrhae Capital’s London-based chief investment officer, the fund’s 2022 returns came on the back of long and short bets on
