“Legacy” data centres are attracting the attention of short seller Jim Chanos as the face growing competition from the tech giants that to data have been their biggest customers, according to a report by The Financial Times. Chanos, most famous for predicting the Enron collapse over 20 years ago, is said to be seeking several hundred million dollars a for a new fund that will bet against US real estate investment trusts (REITs) that own big server warehouses. While the data centre market is currently buoyant on the back of a global expansion in cloud computing, Chanos’ thinking is that

Odey Asset Management, the hedge fund founder multi-millionaire Crispin Odey has backed a £6 million fundraising by Advanced Oncotherapy PLC (AVO), according to a report by ProactiveInvestors. Odey Asset Management weighed in with £4.5 million as it and other supporters acquired new shares at a 19% premium to Monday’s closing price. The report says that the new equity comes with a warrant attached exercisable above 25p a share and the the new cash will AVO bring its new proton beam therapy system for cancer treatments to market.

Shareholders in Toshiba Corp have voted in two board directors from activist hedge fund investors at the firm’s annual general meeting, along with 11 other candidates, according to a report by Reuters. The two new directors are Nabeel Bhanji, a senior portfolio manager at Elliott Management, and Eijiro Imai, managing director at Farallon Capital Management. In addition, Akihiro Watanabe, an executive from boutique US investment bank Houlihan Lokey has been elected as chairman of the board. The new appointments, Toshiba’s first major board reshuffle since June 2019, comes as the company is thought to be reviewing its strategic options including

US dollar-pegged stablecoin tether (USDT) has become a short target for crypto-focused hedge funds, according to a report by The Wall Street Journal.

Troubled crypto hedge fund Three Arrows Capital (3AC) has defaulted on a loan worth more than $670 million, according to a report by CNBC. The report cites a notice issued on Monday morning by digital asset brokerage Voyager Digital as confirming that the fund has failed to repay a loan of $350 million in the US dollar-pegged stablecoin, USDC, and also 15,250 bitcoin, which is worth about $323 million currently. Voyager has indicated that it intends to pursue recovery of the debt but that currently 3AC is still operational. Voyager last week secured a commitment of £500 million in funding

Many US hedge fund manager seem to believe that further market declines are on the horizon and are adopting a cautious approach to stock trading as a result, according to a report by The Financial Times.

Bridgewater Associates, the world’s biggest hedge fund, has almost doubled its short bets against European stocks in the past week, according to a report by Bloomberg. The firm, which was founded by Ray Dalio, now holds $10.5 billion in short positions including individual bets of over $50 million against several firms including ASML Holding NV, TotalEnergies SE, Sanofi and SAP SE. All 28 of the companies shorted by Bridgewater are included in the Euro Stoxx 50 index.

Ken Griffin is relocating his $51 billion hedge fund Citadel from Chicago to Miami having voice concerns over rising crime rates in the Windy City, according to a report by The Financial Times. The FT cites an email sent to employees by the firm’s billionaire founder which describes Miami as a “growing metropolis that embodies the American dream”. Griffin recently moved there with his family and now his hedge fund and market-making firm Citadel Securities are to follow suit in what will be a multi-year transition. The FT says that while Griffin’s email did not explicitly blame crime as the

Short covering may be a major contributory factor to Tuesday’s US stock market bounce, according to a report by Bloomberg.