David Sokol’s Teton Capital has launched a launching an activist campaign aimed at shaking up the governance and cost structure at Atlantic Union Bank after quietly building a stake approaching 5% in the $4.4bn regional bank, according to a report by Bloomberg.

Elliott Investment Management has gone public with a rare activist campaign in Japan, urging Sumitomo Realty & Development to significantly improve shareholder returns and overhaul its governance practices – asserting the company is undervalued by at least 40%, according to a report by Bloomberg.

A growing number of distressed French private equity portfolio companies – including EQT-owned care home group Colisée and lab operator Cerba – are attracting attention from hedge funds, according to a report by the Financial Times.

Boaz Weinstein, founder of activist hedge fund Saba Capital, has reaffirmed his commitment to the UK investment trust space, vowing to allocate billions more into what he sees as undervalued and mismanaged vehicles, according to a report by Bloomberg.

Artisan Partners will shutter its dedicated China equity strategy and fully liquidate the portfolio by the end of June, citing sustained headwinds from geopolitics, policy uncertainty and deteriorating investor sentiment, according top a report by Reuters.

Hedge funds are facing political and regulatory heat in California over their involvement in wildfire-related subrogation claims, with state authorities accusing investors of exploiting catastrophe-linked insurance recoveries for profit, according to a report by Bloomberg.