Managers
London is establishing itself as a major centre for quantitative finance, with several UK-based trading firms and hedge funds including XTX and Qube, generating multibillion-pound revenues and attracting top talent, according to a report by the FT.
Several activist hedge funds have narrowly avoided steep losses after Kimberly-Clark’s $40bn acquisition of Kenvue, the Johnson & Johnson consumer health spin-off, reversed a brutal selloff in the stock, according to a report by the Wall Street Journal.
Steve Cohen’s multi-strat hedge fund firm Point72 Asset Management is restructuring its equity platform and launching a new stock-picking business, Valist Asset Management, as firm assets climb to $42bn, according to a report by Bloomberg.
RXR Realty has completed a recapitalisation of 75 Rockefeller Plaza, partnering with hedge fund Farallon Capital in a transaction which strengthens which maintains the firms’ its focus on income-generating office assets in New York City, according to a report by ConnectCRE.
Millennium Management, the $79bn multi-strategy hedge fund led by Izzy Englander, has sold a 15% minority stake in its management company for about $2bn, valuing the firm at roughly $14bn, according to a report by Bloomberg citing unnamed people familiar with the matter.
Short seller Andrew Left, founder of Citron Research, has filed a federal lawsuit against Toronto-based Anson Advisors and Anson Funds Management, alleging that the firm and two of its executives lied to the SEC about payments made to him to “protect their own interests”, according to a report by Bloomberg.
Hedge funds were caught off-guard by earnings from five of the “Magnificent Seven” tech giants last week, prompting significant short covering, according to a client note from the Prime Services division at Goldman Sachs.
Ananym Capital has intensified its campaign urging LKQ Corporation to sell its European business, arguing that a divestiture would unlock shareholder value and fund substantial share buybacks, according to a report by Reuters.
Hedge funds sharply reduced bearish bets on Brent crude in the final week of October, as new US sanctions on Russia’s largest oil companies triggered a record unwind of short positions, according to a report by Bloomberg citing data from ICE Futures Europe.
Hong Kong-based hedge fund Oasis Management has taken a stake in Japanese car care products maker Soft99 Corp, joining a heated dispute between management and activist shareholders over a proposed buyout, according to a report by Bloomberg.
