Managers
Brevan Howard Asset Management is preparing to launch a new share class for some clients of its main hedge fund strategy which will allow it to introduce so-called “pass through” fees, according to a report by Bloomberg.
The report cites unnamed sources and regulatory filings as confirming that the fund intends to use the new share class to raise additional money for its main $10 billion strategy which has till now been closed to new investment.
Many large hedge fund companies that employ multiple, traders to run a range of divers strategies are starting to replace or supplement their standard
Philip Morris International (PMI) has tabled an improved “best and final” offer to acquire smokeless tobacco specialist Swedish Match AB, after investors including activist hedge fund Elliot Management indicated they were unhappy with the original proposal, according to a report by Euronews.
Marlboro maker PMI has upped its all-cash buyout bid for the Stockholm-based firm by 9% to 116 Swedish crowns per share from 106 crowns per share, although the total value of the offer is relatively unchanged due to the recent appreciation in the value of the US dollar against the Swedish krona.
In July, Bloomberg revealed that Elliott
Several Brazil-based hedge funds are ramping up their bets against the Columbian peso in anticipation of tough times ahead for their Andean neighbour, according to a report by BNN Bloomberg.
Israel has caught the eye of billionaire hedge fund investor Dan Loeb with the Third Point boss opening a new office in Tel Aviva to target investment opportunities in the country’s booming technology sector, according to a report by Reuters.
The new office is the first international location for the $14 billion New York-based firm and will act as a second hub to its Silicon Valley office in Menlo Park with a focus on data infrastructure, cybersecurity and enterprise software investments. It will be headed up by Sapir Harosh, who joined TPV from Israeli firm Pitango earlier this year.
Third
Seasoned short-seller Jim Chanos, who famously exposed – and profited from – the accounting scandal at Enron, has partnered with London-based Green Ash Partners to launch a new equity long/short hedge fund, according to a report by Bloomberg.
Hedge fund Starboard Value is living up to its activist billing by disclosing a major position in a new company for the third time this week, according to a report by Bloomberg.
The latest company to attract Starboard’s attention is Vertiv Holdings, which went public in February of 2020 after a merger with SPAC GS Acquisition Holdings. Starboard has acquired a 7.4% stake in the digital infrastructure provider and is reportedly seeking ‘operational improvements’ a the company.
Starboard, which according to a 13D filing began accumulating its position in Vertiv back in August, has reportedly held talks with the company’s
Virtus Investment Partners, which operates a multi-boutique asset management business, is to acquire AlphaSimplex Group, LLC, a manager of liquid alternative investment solutions with $10.9 billion of assets under management, from Natixis Investment Managers.
AlphaSimplex is a provider of systematic alternative investment solutions for institutional and individual clients. Its offerings are designed to adapt to changing market dynamics and provide the potential for positive, uncorrelated investment returns even through the market’s most challenging periods. Among its strategies is its flagship trend-following managed futures strategy offered via the 5-Star Morningstar Rated $3.5 billion AlphaSimplex Managed Futures Strategy Fund (ASFYX), which is
BirchLane Capital, a London-based hedge fund set up by former JPMorgan credit trader Fajr Bouguettaya, is returning all capital to investors just two years after commencing operations, according to a report by Bloomberg.
Sterling and gilts are beginning to attract the attention of a number of hedge funds following their market mauling sparked by the UK government’s mini-budget of unfunded tax cuts, according to a report by Bloomberg.
Activist hedge fund Starboard Value is calling on Salesforce to capitalise on its market-leading position and increase margins, having acquired a significant stake in the cloud software specialist, according to a report by the Financial Times.
Shares of Salesforce have slumped by around 40% so far in 2022 – double the drop seen by rival from Oracle over the same period – on the back of what Starboard attributes to be a “subpar mix of growth and profitability”.
Salesforce shares closed up more than 4% on Tuesday when news of Starboard’s stake broke.
The $8.4 billion New York-based fund, which
