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Brevan Howard has grown its Abu Dhabi operation to 150 employees just two years after opening in the emirate, founder Alan Howard told delegates at Abu Dhabi Finance Week on Monday – signalling the firm’s deepening commitment to the region, according to a report by Reuters.
Hedge funds have sharply increased their use of leveraged US interest-rate swap trades as the traditional cash-futures basis trade loses momentum, the Bank for International Settlements has warned, according to a report by Bloomberg.
Saba Capital’s flagship fund is on track for a disappointing year, with the $1.9bn vehicle down 6.5% year-to-date to 21 November, extending a multi-year period of weak performance for the credit-focused strategy, according to a report by the Financial Times.
A London judge has ordered Evolution Capital Management to pay former hedge-fund trader Robert Gagliardi a $5.4m bonus after ruling the firm wrongfully withheld his payout during a US block-trading investigation that ultimately brought no charges, according to a report by Bloomberg.
Florida-based activist hedge fund HoldCo Asset Management has turned its attention to KeyCorp, urging the regional bank to halt acquisitions, replace CEO Chris Gorman, and return excess capital to shareholders through buybacks, according to a report by Reuters.
Fullerton Fund Management, the Singapore-based asset manager backed by state investor Temasek, has sharply reduced its onshore China private fund operations, according to a report by Reuters, marking a retrenchment after years of struggling to achieve scale in the market.
Balyasny Asset Management (BAM) is set to expand its presence in the United Arab Emirates, with the $29bn multi-strategy firm preparing to open an office in Abu Dhabi’s ADGM, two years after establishing its first regional base in Dubai, according to a report by Bloomberg.
Activist hedge fund Barington Capital Group has opened a fresh proxy battle with Matthews International, nominating three directors to the board in a renewed push for governance and portfolio changes at the US manufacturer, according to a report by Reuters.
Man Group is set to expand its Middle East footprint with plans to open an office in Abu Dhabi, joining a wave of global hedge fund managers building out operations in the UAE’s fast-growing financial centres, according to a report by Bloomberg.
Institutional digital assets manager CV5 Capital has teamed with Arkangel Wealth Management to launch Arkangel Fund SP, a new digital assets hedge fund that employs a systematic, market-neutral quantitative investment strategy.
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