Managers
Su Zhu, co-founder of failed cryptocurrency hedge fund Three Arrows Capital (3AC), believes that the collapse of Sam Bankman-Fried’s FTX empire could set the cryptocurrency back by up sebve or eight years, according to a report by Bloomberg.
Private wallets and self-custody are becoming increasingly popular with hedge funds in the wake of the collapse of cryptocurrency exchange FTX which highland the risks of relying on a single venue for trading, according to a report by Financial news
The report cites Anatoly Crachilov, chief executive of Nickel Digital Asset Management, as saying that his firm is seeing lower trading volumes across all trading venue as investors are “derisking” their positions.
The demise of FTX, which filed for bankruptcy on 11 November, has exposed a raft of weaknesses in the current crypto ecosystem, including high levels of leverage on
Hedge funds are maintaining their bearish stance on equity markets despite the recent stock market rally prompting them to unwind short bets at a rapid rate, according to a report by Bloomberg.
Shipping and mailing company Pitney Bowes Inc is being pushed to re-evaluate its capital allocation and e-commerce strategy by hedge fund Hestia Capital Partners, according to a report by Reuters.
Hildene Capital Management, a $12 billion credit-focused asset manager, has formed Ludlow Re SPC, Ltd, a Cayman Islands-based, Class B(iii) insurance company.
Man Group is preparing to launch a dedicated cryptocurrency hedge fund despite the current turmoil in the market sparked by the collapse of Sam Bankman-Fried’s digital exchange operator FTX, according to a report by Bloomberg.
Founder Dan Och and other former senior executives of Sculptor Capital Management have resolved a legal fight with the hedge fund by forming a special committee to explore potential transactions, according to a report by Bloomberg.
The report cites a statement issued by the new New York-based firm on Friday that the committee, which will be made up of independent directors, will gauge potential interest from third parties “that maximises value for shareholders”.
A deal could prove challenging for Sculptor, whose flagship hedge fund is underwater and has grappled with outflows almost every year since 2014. Its stock has lost
Steven Cohen’s Point72 Asset Management focused on dividend-paying stocks in Q3, upping its holding in two tech companies and opening two new positions in the energy sector, according to a report by Investing.com.
The $24 billion hedge fund firm, which lost over 20% last year but still boasts ten-year performance of over 60%, although last year the fund was down roughly 20.4%, increased its stake in Fidelity National Information Services (FIS) by more than 1.3 million shares, or roughly 68% during the third quarter. FIS is offering a dividend yield of 3.06% or $1.88 per share annually, through quarterly payments.
The recent 10% rally in the S&P 500 bypassed some of the world’s largest equity hedge funds, according to a report by Bloomberg, with many missing out on boosting returns by failing to ramp up bullish bets in Q3.
Having incurred heavy losses earlier in the year, several big-name firms, including Chase Coleman’s Tiger Global Management and Lee Ainslie’s Maverick Capital, made relatively modest additions to their portfolios during the third quarter and also continued to reduce their largest holdings.
Tiger Global, on pace for its worst year on record with a loss of 54.6% through October, added
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TCI Fund Management wants Google parent Alphabet to reduce costs by cutting its headcount in a bid to adjust to slower growth according to a report by Reuters. The activist investor also wants the company to cut losses at its self-driving unit Waymo.
