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Abu Dhabi is entering a new phase of its strategy to become a global hedge fund hub, shifting from attracting managers to the emirate to deploying billions of dollars of sovereign wealth capital across leading hedge fund firms, according to a report by Bloomberg.
A group of hedge funds including Verition Fund Management and Empyrean Capital Partners, is battling for control of a proposed shareholder class action challenging 3G Capital’s $9.4bn acquisition of footwear company Skechers USA, as investors seek to overturn what they claim was an undervalued takeover.
The US Securities and Exchange Commission (SEC) has issued new guidance requiring activist investors to disclose the identities of clients backing their campaigns, a move that could reshape how hedge funds structure and finance shareholder activism, according to a report by Reuters
Millennium Management has strengthened its commodities platform with the hire of Amit Sinha, the former head of agricultural trading at Squarepoint Capital, as the multi-manager hedge fund continues to build out its agricultural commodities capabilities, according to a report by eFinancial Careers.
Goldman Sachs believes conditions for currency carry trades are the most attractive they have been since 2000, as wide interest rate differentials and subdued foreign exchange volatility create favourable opportunities for macro investors and hedge funds, according to a report by Bloomberg.
Activist hedge fund Elliott Investment Management has built a significant stake in car insurance software provider CCC Intelligent Solutions Holdings, as the company explores strategic options including a potential sale, according to a report by Bloomberg.
Macro hedge fund Deem Global has raised approximately $1bn from the Abu Dhabi Investment Council (ADIC), underscoring continued institutional demand for discretionary macro strategies and Abu Dhabi’s growing influence as a major source of hedge fund capital, according to a report by Bloomberg.
Wall Street’s primary dealers have moved into a net short position in US corporate bonds for the first time in at least 25 years, highlighting both changing market dynamics and growing caution over credit risk despite continued investor demand, according to a report by Bloomberg.
Citadel founder Ken Griffin (pictured) believes hedge funds need to consistently generate returns of around 4 percentage points above the risk-free rate if they are to continue attracting investor capital over the long term, according to a report by eFinancial Careers.
Specialty insurer Ategrity Specialty Insurance has appointed Neil Adler, chief financial officer of hedge fund manager Zimmer Financial Services, as its new finance chief following the departure of CFO Neelam Patel, according to a report by Business Insurance.
