Latest News
CIFC Asset Management has selected HUB, a SaaS solution designed to simplify and automate investment operations, to streamline its NAV reconciliation and oversight processes.
James Rubinstein, formerly head of execution services at hedge fund ExodusPoint, has joined electronic market maker GTS Securities as a managing director, according to a report by eFinancialCareers. He is understood to have started in the New York-based role around two weeks ago.
The US Securities and Exchange Commission has once again pushed back the compliance deadlines for its controversial short-sale and stock lending disclosure rules, meaning hedge funds and other large investors have several more years before its requirements take effect, according to a report by Bloomberg.
Millennium Management suffered significant losses in its index rebalance strategy in November, according to a report by Business Insider, weighing on performance at the $81bn multi-strategy hedge fund. At one point during the month, teams led by senior portfolio managers Glen Scheinberg and Pratik Madhvani were reportedly down hundreds of millions of dollars, although some losses were recovered toward month-end.
UK hedge funds and financial firms are expressing concern after the government revived plans to reform non-compete clauses in employment contracts, raising the prospect of an outright ban or tighter time limits, according to a report by Bloomberg. Proposals published alongside last week’s budget seek industry feedback on whether post-employment restrictions should be capped at three or six months, or removed entirely.
Activist investor Barington Capital Group has built a position in Bill Holdings worth roughly $25m and is urging the business payments firm to explore strategic alternatives, including a potential sale, according to a report by Bloomberg.
Two Sigma Investments has launched three new hedge funds this year and brought in more than $1.1bn in fresh capital, as investors remain largely unfazed by ongoing internal tensions between its billionaire founders, according to a report by Bloomberg. Assets under management have reportedly risen to a record level of more than $70bn, up from about $60bn in January.
FactSet, a financial digital platform and enterprise solutions provider, and Arcesium, a financial technology firm for the investment industry, have made a strategic partnership to deliver a unified investment management offering designed to integrate front, middle, and back office asset management workflows across public, private, and alternative markets.
Nicolas Meiller, who departed Eisler Capital earlier this year, has joined Millennium Capital Partners as a partner in London, according to a report by eFinancialCareers.
Hedge funds are running near-record leverage as managers amplify equity and debt-backed strategies to lift returns in markets supported by the AI boom, according to a report by Reuters. Prime brokerage data from Goldman Sachs, JPMorgan, and Morgan Stanley shows gross leverage across equity long/short portfolios at or near all-time highs.
