Managers
Activist hedge fund Jana Partners has taken a new position in Alkami Technology during the third quarter, according to a report by Reuters citing unnamed people familiar with the matter — a move that signals growing activist attention on the under-pressure digital banking software provider.
Starboard Value has fully exited its position in Pfizer, winding down the activist campaign it began last year to push for governance and performance improvements at the US drugmaker, according to a report by Reuters.
Some of the largest US hedge funds, including Bridgewater, Tiger Global and Lone Pine, pared back positions in the so-called “Magnificent Seven” during the third quarter, while others upped their holdings or opened new positions, according to a report by Reuters.
AQR Capital Management co-founder Cliff Asness says the quantitative investment firm is considering entering the sports betting market, according to a report by Bloomberg.
Citadel LLC has appointed Kevin Nassery, a former senior technology executive at crypto-exchange Gemini Trust Company, to lead its security and risk compliance for the Americas, according to a report by eFinancialCareers.
Man Group, the world’s largest listed hedge fund manager, plans to reduce its London-based workforce and relocate certain roles to its operations base in Bulgaria, signalling an accelerated cost-efficiency drive, according to a report by the Financial Times.
Shah Capital is pressing biotech firm Novavax’s board to explore strategic options, including a full sale, and warns it may launch a proxy fight if changes aren’t made within four months, according to a report by Reuters. The investor has recently increased its share in Novavax to 8.3%, up from 7.2% in October.
The US Securities and Exchange Commission is reconsidering its implementation of the sweeping central-clearing rule for US Treasuries, according to a report by Bloomberg. Agency staff are evaluating possible broadening of the inter-affiliate exemption, which could extend relief to cash transactions and certain affiliate trades.
Man Group Plc, the UK-based hedge fund giant, is capitalising on rising client interest in sustainable investing after securing a $13.2bn mandate from Dutch pension fund PFZW in September, according to a report by Bloomberg citing unnamed sources.
Cliff Asness, co-founder of AQR Capital Management, says US equities look historically expensive but not dangerously overvalued, arguing that while prices are high, they fall short of the excesses seen during past bubbles, according to a report by Bloomberg.
