Managers
A growing number of hedge funds – including Elliott Investment Management, Man Group and an AQR Capital Management affiliate – are returning to appraisal arbitrage, a strategy that challenges M&A deal prices in Delaware’s Chancery Court in pursuit of higher valuations, according to a report by Bloomberg.
Blockstream Capital Partners is expanding its institutional investment platform with the acquisition of Corbiere Capital Management, a Jersey-based equities and event-driven hedge fund firm founded by former BlueCrest CIO Rodrigo Rodriguez.
Hedge fund investors holding Brightline’s $1.1bn corporate debt are preparing a restructuring plan that could give them priority over other creditors while providing new financing to the struggling high-speed rail project, according to a report by Bloomberg.
Global short sellers continued to focus on consumer and Software & Services sectors in November, according to Hazeltree’s latest Shortside Crowdedness Report, which tracks anonymised data from over 600 asset managers globally.
Warner Bros shares climbed sharply this week as event-driven hedge funds ramped up positions in anticipation of a bidding war between Paramount and Netflix, with merger arbitrage managers suggesting that at least one bidder is likely to raise its offer, according to a report by the Wall Street Journal.
Geopolitics, policy uncertainty and diverging rate cycles are setting up a strong environment for macro and volatility-oriented hedge funds next year, according to a Bloomberg report citing senior leaders from Man Group, Brevan Howard and the Abu Dhabi Investment Council.
Activist hedge fund Starboard Value has acquired a nearly 5% stake in Clearwater Analytics (CWAN.N), pressuring the investment accounting software provider to unlock shareholder value, according to a report by Reuters.
Brevan Howard founder Alan Howard has confirmed that the hedge fund now manages more capital and employs more traders in Abu Dhabi Global Market than anywhere else globally, according to a report by Gulf News.
Hedge fund Tiger Global Management is dialling back its venture-capital ambitions and returning to a more measured, early-stage strategy, as the firm seeks to rebuild credibility with investors following heavy markdowns across its private portfolios, according to a report by Bloomberg.
Activist fund Ananym Capital – co-founded last year by veteran campaigners Charlie Penner and Alex Silver – has built a significant stake in Siemens Energy and is pressing the German group to separate its loss-making wind business, according to a report by the Financial Times.
