Managers
TOP STORY: Chaitanya Mehra, head of a diversified commodities platform at Millennium Management, is spinning out to launch Echion Capital with $1.5bn in backing from Izzy Englander’s multi-strategy hedge fund firm, according to a report by Bloomberg.
Hedge fund DE Shaw has become the second activist investor to call on CoStar Group to abandon its Homes.com-led residential business, echoing demands made recently by Daniel Loeb’s Third Point, according to a report by RisMedia.
UK regulators have disclosed that an internal investigation at Odey Asset Management uncovered at least 46 allegations of inappropriate conduct against founder Crispin Odey over a 17-year period, according to a report by Bloomberg citing filings released by the Financial Conduct Authority.
Tiger Global Management, the hedge fund firm founded by Chase Coleman, is opening a San Francisco office in the Transamerica Pyramid, marking a strategic move into the heart of the city’s tech and AI hub, according to a report by Bloomberg.
Hedge funds are rebuilding short-yen positions, positioning for renewed currency weakness, on the back of comments by Prime Minister Sanae Takaichi, as Japan heads into a closely watched general election this weekend, according to a report by Bloomberg.
Saba Capital has moved closer to launching a European activist exchange traded fund focussed on UK-listed investment trusts trading on persistent discounts after receiving regulatory approval in Ireland to operate the vehicle as an active ETF, according to a report by Quoted Data.
Hedge funds have gradually reduced their exposure to North America over the past year, as trade tensions, policy uncertainty, a weaker US dollar and pressure on megacap stocks prompt allocators to rebalance portfolios across regions, according data from Goldman Sachs, JPMorgan and BNP Paribas.
Japan’s most powerful business lobby, Keidanren, has invited US activist hedge fund Elliott Investment Management to a closed-door meeting on 5 March, signalling how shareholder activism is becoming increasingly embedded in Japan’s corporate landscape, according to a report by Reuters.
Hedge funds have turned increasingly bullish on crude oil, with positioning in Brent reaching its highest level since April as geopolitical tensions with Iran and severe winter weather in the US tightened near-term supply expectations, according to a report by Bloomberg citing data from IOCE Futures Europe.
Crispin Odey, founder of now defunct hedge fund firm Odey Asset Management, is set to return to court this week as he challenges the UK Financial Conduct Authority’s decision to ban him from the financial services industry, according to a report by The Times.
