Third Point, the $12bn alternative investment firm founded by Daniel S Loeb, has agreed to acquire AS Birch Grove, an $8bn alternative credit fund manager, with the transaction expected to close during the first quarter of the year.

Pershing Square Capital Management, the New York-based investment firm led by Bill Ackman, has concluded its PSVII funds, a finite-life co-investment vehicle established to hold shares in Universal Music Group NV.

Bullish bets on oil surged to their highest levels in four months during the penultimate week of 2024 following a surge in activity by hedge funds during the previous week, as investors adjusted their positions ahead of Donald Trump’s return to the White House, according to a report by Bloomberg.

Dmitry Balyasny, founder of the $20bn multi-strategy hedge fund Balyasny Asset Management, has overseen the overhaul of the firm’s equities division in response to underperformance in 2023, according to a report by Business Insider.

Hedge fund manager Crispin Odey is seeking at least £79m in damages from the Financial Times, filing a libel lawsuit against the publication, according to a report by the Guardian citing court documents.

Citadel founder Ken Griffin was only half correct last month when he claimed the multistrategy hedge fund boom had “come and gone,” according to a report by Bloomberg.

The board of Edinburgh Worldwide Investment Trust, managed by Baillie Gifford and offering shareholders an opportunity to invest in Elon Musk’s SpaceX, has increased its resistance to a takeover attempt by Saba Capital Management, according to a report by The Times.