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Activist hedge fund Engine Capital has disclosed a roughly 3% stake in Acadia Healthcare, one of the largest US providers of mental health services, calling for a board refresh and a strategic review of the company’s assets, according to a report by the Financial Times.
David Einhorn, founder of hedge fund Greenlight Capital, has warned that the massive spending spree on artificial intelligence (AI) infrastructure could lead to significant capital destruction, even if the technology ultimately proves transformative, according to a report by Bloomberg.
Citadel, the global hedge fund and market-making firm, has leased office space atop Boston’s newly completed South Station Tower, marking a significant expansion in the city for the business, according to a report by Bloomberg.
Activist hedge fund manager Saba Capital is preparing to launch an actively managed ETF aimed at exploiting share price discounts in the UK’s £267bn closed-end fund sector, according to a report by Quoted Data.
Italian luxury group Brunello Cucinelli saw its shares tumble 17% on Thursday following allegations from London-based short seller Morpheus Research that the company misled investors about its operations in Russia, according to a report by the Financial Times.
Wealthy investors in the US and Asia are redirecting hedge fund allocations away from the US and toward Europe and the Middle East, according to a report by Reuters citing the findings of a Bank of America survey of 263 allocators representing roughly $840bn in assets.
MFA has appointed John Van Etten as Managing Director, Head of US Government Affairs to lead the association’s engagement with Congress and the Administration on a broad range of policy issues affecting the alternative asset management industry.
Hedge fund Discovery Capital Management, led by Rob Citrone, has advanced more than 20% so far this year, driven in part by strategic positions in Argentine assets, according to a report by Bloomberg citing unnamed sources familiar with the fund.
Brevan Howard has cut at least four employees in its technology teams in both London and Abu Dhabi, representing roughly 2% of its middle- and back-office workforce, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Macro hedge fund Modular Asset Management is set to conclude its $600m separate account with Millennium Management by the end of the year by mutual consent, bringing to an end a partnership that began in early 2020 after Modular spun out from the multi-strat major.
