Managers
Activist hedge fund Starboard Value has disclosed an 8.5% stake in BILL Holdings and is preparing a boardroom battle to push for strategic and operational changes at the financial automation software company, according to a report by Reuters.
Activist hedge fund HoldCo Asset Management is preparing to escalate its campaign at Comerica, threatening to nominate as many as five directors to the regional lender’s board unless the bank agrees to pursue a sale, according to a Wall Street Journal report.
A group of Thames Water’s senior creditors, including hedge fund Elliott Management and PE firms Apollo Global Management and Silver Point Capital, have submitted a revised rescue plan to UK regulator Ofwat as part of efforts to avert the collapse of the UK’s largest water utility, according to a report by Bloomberg.
PSquared Asset Management, based in Zurich and managing around $750m, takes a targeted approach to credit investing. Rather than chasing scale or passive yields, the firm focuses on event-driven opportunities and mispriced complexities within Europe’s fragmented credit markets to drive returns.
Elliott Management has disclosed a $4bn stake in PepsiCo, marking one of the activist hedge fund’s largest positions to date, as it pushes for a shake-up at the global drinks and snacks group to reverse a sharp share price decline, according to a report by the Financial Times.
Magnetar, the credit-focused hedge fund that rose to prominence during the 2008 financial crisis, has posted one of the industry’s strongest returns this year after a bold wager on AI infrastructure firm CoreWeave delivered outsized gains, according to a report by the Financial Times.
Hedge funds have been increasing their exposure to WPP, the world’s largest advertising and marketing group, just as Cindy Rose begins her tenure as Chief Executive Officer, according to a report by Reuters citing research from Panmure Liberum.
Hedge funds saw a boost in July thanks to a rally in French biotech Abivax, as its US-listed shares jumped more than 580% in a single day following positive Phase 3 trial results for its ulcerative colitis oral treatment obefazimod, according to a report by the Wall Street Journal.
Hedge funds are entering September with a defensive stance on US equities, keeping leverage muted and avoiding the latest market rally despite expectations of a Federal Reserve rate cut later this month, according to a report by Reuters citing research from Goldman Sachs and Morgan Stanley.
The rapid growth of hedge funds and private investors in catastrophe reinsurance is raising questions about the sector’s long-term stability, according to a report by the Financial Times citing Munich Re board member Stefan Golling.
