Managers
Hedge fund Coltrane Asset Management is up 223% this year, up to the end of June, on the back of a large contrarian bet against tech stocks, according to a report by the Wall Street Journal.
Activist hedge fund manager Bluebell Capital Partners is targeting board level change at Swiss luxury goods group Compagnie Financière Richemont (Richemont), the maker of Cartier jewellery and IWC watches, according to a report by Reuters.
Richemont has revealed that London-based Bluebell, which has around €250 million in assets, wants the company to designate a representative of the holders of ‘A’ shares – which are listed on the SIX Swiss Exchange – with that representative also then becoming a board member. Bluebell also wants to see an increase in the minimum number of board members to six, and to have an
British hedge fund manager Alan Howard, who has personally invested in about 40 cryptocurrency companies so far, including FTX and Polygon, is still investing the space despite the current market turmoil, according to a report by Blockworks.
In mid-June, and after the collapse of terra, Brevan Howard founder Howard (58) invested in a $10.3 million pre-seed round for crypto brand studio ScienceMagic.Studios. He also took part in an $11 million seed round for ‘play-to-earn’ metaverse startup Atmos Labs’ $11 million seed round, which closed around the same time as major crypto lenders were causing contagion across the market.
Data from
Tiger Global has seen another bet go awry with grocery delivery start-up Missfresh having lost 97% of its value since its Nasdaq IPO in June last year, according to a a report by the Financial Times.
Missfresh has closed its operations across China and is on the look out for fresh capital to keep its business alive having been hit by an accounting scandal and seen its market value sink to just $88 million having hit a $3 billion valuation in New York a year ago.
Investors including Tiger Global and Goldman Sachs are reported to have invested $1 billion
Growing fears of a global economic downturn have prompted some of Brazil’s largest hedge-fund managers to cut their commodities bets, according to a report by Bloomberg.
The report says that both Legacy Capital and Ibiuna Investimentos are among the funds involved with the former having trimmed the net exposure of its flagship hedge fund in the past month, and the latter unwinding a bullish position in oil prices.
The impact of higher interest rates on growth forecasts, rather than inflation, is an increasing concern for investors, and “points to a hostile environment for risk assets in the third quarter,”
Brilliance Asset Management’s flagship fund Brilliance Partners Funds returned 17% in June on the back of a rebound in Chinese stocks, reducing H1 losses to 14% in the process, according to a report by Bloomberg.
Smaller stablemate, the Brilliance China Core Long Short Fund, meanwhile, was up 21% during the month, paring back first half losses to 16%. Both funds outperformed the benchmark China stock index over the the month. The MSCI China Index is still down 46% from a February 2021 high.
Hong Kong-based Brilliance was among a group off hedge funds hit hard by sell-off in Chinese stocks
US car service and tyre centre operator Monro Inc has been asked by hedge fund Ides Capital to pressure its controlling shareholder to drop a veto to a sale of the company, according to a report by Reuters.
Keystone Investors Pte, a hedge fund spinoff from Schonfeld Strategic Advisors, which began trading on 1 April, has now raised more than $750 million, according to a report by BNN Bloomberg.
Schonfeld has backed the fund, which focuses on Greater China stocks, but the report cites Keystone Investors’ CEO Ken Tinkinson as saying that the majority of money has been raised from other investors. The fund is currently closed to new capital in a bid to manage asset size but plans to reopen in the fourth quarter, according to Tinkinson.
New York-based Schonfeld, which manages $13.8 billion in outside capital,
The LME’s decision back in March to void nickel trades made over an eight hour period has prompted a number of hedge funds to reassess the portfolio risk of trading certain markets, according to a report by The Financial Times.
Event-driven hedge fund Tyrus Capital is being reinvented as a broad asset management company by founder Tony Chedraoui four years after the firm nearly went bust following the failure of a big M&A bet, according to a report by Bloomberg.
The amount of money Chedraoui’s core strategy can take in has been halved to $1 billion with the focus switching from deal wagers to acquiring private equity portfolios from investors wanting an early exit.
The firm is also building a real estate credit business and underwriting fundraising for struggling companies.
The wager that almost derailed the firm four years ago
