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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.
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.
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