Managers
Point72 Asset Management is evaluating whether to broaden its use of external trading intelligence by developing a platform that would compensate other hedge funds for investment ideas and market signals, according to a report by Bloomberg citing unnamed people familiar with the matter.
US federal prosecutors have dropped securities fraud charges against former Prophecy Asset Management executive Jeffrey Spotts, bringing an abrupt end to a closely watched case linked to the collapse of the hedge fund firm and the activities of its founder, Brian Kahn, according to a report by Bloomberg.
Multi-strategy hedge fund major Millennium Management is seeking to expand its footprint in India by establishing a local investment-management operation, according to a report by Bloomberg citing unnamed people familiar with the matter.
Schonfeld Strategic Advisors is preparing to establish a new office in Zurich, further expanding its presence in Europe as competition intensifies among multi-strategy hedge funds seeking to attract and retain investment talent, according to a report by Bloomberg.
AI is an increasingly important tool for hedge funds and asset managers operating in credit markets, but the tech is being used primarily to enhance investment processes rather than replace investment professionals, according to report by the Financial Times citing new research from Barclays.
Hedge funds are intensifying bearish bets against a range of customer experience and business process outsourcing companies as concerns mount that advances in artificial intelligence could fundamentally reshape the sector, according to a report by the Financial Times.
Universal Music Group shares came under pressure after Bill Ackman’s Pershing Square Capital Management completed the sale of its remaining stake in the company, ending a multi-year investment that had previously included an unsuccessful takeover attempt, according to a report by the Wall Street Journal.
DE Shaw & Co is lengthening investor withdrawal periods on two of its largest hedge funds while closing smaller vehicles, reflecting a broader industry shift among multi-strategy managers toward tighter liquidity controls and more stable capital bases, according to a report by Bloomberg.
Bill Ackman’s Pershing Square Capital Management is set to generate a substantial profit from its long-held investment in Universal Music Group NV as it unwinds its position following the rejection of its latest takeover proposal by the company, according to a report by the Wall Street Journal.
Fasanara Capital is expanding its presence in asset-backed lending with the launch of a specialist platform dedicated to financing high-value Ferrari vehicles, highlighting the continued evolution of private credit into increasingly niche asset classes, according to a report by Bloomberg.
