The Investment team at Breacher Capital Management investment team has joined global quantitative investment firm Teza Technologies, according to a report by Opalesque. Breacher Capital Management, a Connecticut-based hedge fund manager founded in February 2020 will redeem its current LPs and cease operations.  The Breacher team is planning to will roll out a new Teza Hedged Equity Fund – previously the Breacher Enhanced Fund – in both SMAs and an LP structure along with customisin Q2 ed SMA solutions for institutional clients. Teza Technologies is a quantitative asset management firm founded in 2009 by trading expert Misha Malyshev.

Surging prices prompted by Russia’s invasion of neighbouring Ukraine have seen hedge funds double down on their commodities bets, with increased exposure bringing sizeable returns, according to a report by CNBC. Rising oil prices have made the energy sector a target for hedge funds, with crude topping USD130 per barrel at one point last week, while other commodities including aluminium and nickel have also seen big price increases. The former recently reached record highs, while nickel prices more than doubled in a matter of hours on 8 March. The report name-checks Equinox Partners, Soroban Capital, and Warren Buffett’s Berkshire Hathaway

Hedge fund Chatham Asset Management (Chatham), which manages funds that beneficially own approximately 6.3 per cent of the outstanding common stock of Rayonier Advanced Materials (RYAM) and is a substantial bondholder of the Company, has sent a letter to the independent members of the company’s Board of Directors expressing concerns that management is not taking action quickly enough to proactively address the Company’s upcoming debt maturities. In light of rising interest rates, Chatham delivered a suggested term sheet to RYAM management earlier this week outlining a possible exchange offer of the Company’s 5.50 per cent Senior Notes due 1 June,

The rice of crude oil will hit USD200 by the end of the year is commodities trader Pierre Andurand is right, according to a report by Bloomberg. Andurand, the founder of Andurand Capital Management, believes markets will struggle to increase production to replace lost oil supplies from Russia, saying that an estimated four million barrels a day have already been lost since Russia’s invasion of neighbouring Ukraine.

Ken Griffin, Founder and CEO of hedge fund firm Citadel Asset Management, has teamed with The Ricketts family, owners of the Chicago Cubs Major League Baseball franchise to launch bid to acquire English Premier League club Chelsea FC. US bankers Raine Group have set a deadline of Friday, 18 March for interested parties to submit formal bids to acquire the Blues from Roman Abromovich who, since putting the club up for sale earlier in the month, has been sanctioned by the UK government and disqualified as a director. A rival consortium fronted by Todd Boehly, Jonathan Goldstein and Hansjörg Wyss

Despite increases in the the price of commodities helping Brazilian assets lead global gains this year, one of the country’s biggest independent hedge funds is predicting that there may be trouble ahead, according to a report by Bloomberg. With Brazil’s next presidential election is looming large in October this year, Legacy Capital Gesture de Recurso Ltda, whose Legacy Capital FIC fund has outperformed 97 per cent of peers this year, says that whoever wins will face a bleak outlook for Latin America’s biggest economy. The report quotes founding partner Felipe Guerra as saying that Brazil is facing so many problems

Prime brokers report cuts to long and short positions in a ‘nowhere to hide’ market. Prime brokers are reporting cuts to both long and short position in US equities by their hedge fund clients as managers look to mitigate the impact of big swings in US markets brought on by Russia’s invasion of neighbouring Ukraine. According to a report by The Financial Times, fund clients of some of the largest Wall Street banks, including Morgan Stanley, Goldman Sachs and JPMorgan Chase, have moved rapidly to close out bets on either rising or falling prices in what Charlie McElligott, a strategist

Kirkoswald Asset Management, the hedge fund firm run by Greg Coffey redeemed a investments made by a number of Russian investors before Russia’s invasion o Ukraine, according to a report by Bloomberg. In a note to investors on them day before Russia launches its attack, Coffey told investors that, with sanctions looming, a small number of redemptions had been made “as a precaution to reduce the potential impact” to the GBP4 billion macro fund has its investors.