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Verition Fund Management has experienced notable turnover in its credit trading team, with two senior hires from major investment banks reportedly leaving the firm within a relatively short period after joining, according to a report by eFinancial Careers.
Activist investor ADW Capital, led by Adam Wyden, has submitted an unsolicited offer to acquire automotive services group Driven Brands Holdings Inc in a deal valued at nearly $3bn, escalating its campaign for strategic change at the company, according to a report by the Wall Street Journal.
Point72 Asset Management founder Steve Cohen is reshaping the hedge fund’s senior leadership framework, introducing an executive committee model while stepping back from the president title in a move aimed at supporting the firm’s continued growth and succession planning, according to a report by Bloomberg.
US derivatives regulator the Commodity Futures Trading Commission (CFTC) is re-examining how it publishes a key dataset in a move that could reshape how hedge funds and other market participants interpret positioning signals across futures markets, according to a report by Bloomberg.
Engine Capital has called on engineering and construction group KBR Inc to consider a full sale of the business, arguing that the company is undervalued in public markets and could command a significantly higher price in a takeover, according to a report by Reuters.
Digital asset investment products saw $1.2bn of inflows last week, the fourth consecutive positive week, with eight assets recording inflows versus six the prior week, according to the latest data from CoinShares.
Bill Ackman’s latest attempt to broaden his investment platform got off to a weak start on Wall Street, with shares in his newly listed fund falling sharply on debut amid subdued investor demand and a scaled-back fundraising effort, according to a report by the Financial Times.
Activist hedge fund firm Saba Capital has effectively won its long-running campaign to take control of the board of Edinburgh Worldwide Investment Trust, following a dramatic shift in shareholder voting dynamics ahead of the company’s AGM.
Sanctions have evolved into a structural investment risk factor that is increasingly surfacing inside portfolio holdings only after losses or compliance issues emerge, according to a report by CityWire citing analysis by Morningstar Inc.
Avis Budget Group has publicly criticised one of its largest shareholders, hedge fund Pentwater Capital Management, over its role in the sharp rise and subsequent collapse of the company’s share price, according to a report by Bloomberg.
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