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Pershing Square, the hedge fund led by Bill Ackman, is set to sell shares at $50 each in its upcoming initial public offering in New York. While the date of the IPO has yet to be set, shares will be listed under the ticker symbol “PSUS”, according to a report by BayStreet.
New hedge fund launches surged while liquidations remained steady to begin 2024 with industry assets hitting a record level of $4.3tn as fund managers positioned for growing geopolitical risk, according to the latest HFR Market Microstructure Report.
BlackRock has agreed to acquire Preqin, a UK-based independent provider of private markets data for £2.55bn ($3.2bn) in cash, bringing together Preqin’s data and research tools with Aladdin’s workflow capabilities in a unified platform.
Hedge fund Balyasny Asset Management has added Sean Hammersley as a portfolio manager, according to a report by eFinancial Careers.Â
Taproot Management, a new hedge fund with a planned $500m launch next year, is forgoing expensive portfolio managers in favour of a team of analysts, according to a report by Bloomberg.Â
The Internal Revenue Service has formally apologised to Ken Griffin, founder of hedge fund giant Citadel, following the unauthorised release of his tax returns, according to a report by the Wall Street Journal.Â
Pierre Andurand’s hedge fund firm Andurand Capital Management will continue to bet on copper and cocoa futures despite recent price declines from their all-time highs earlier this year, according to a report by Bloomberg citing an investor letter.Â
Multistrategy hedge fund DE Shaw is raising capital for DE Shaw Diopter International Fund II as well as its counterpart, DE Shaw Diopter Fund II, according to a report by Institutional Investor citing regulatory filings.Â
Former Segantii Capital Management trader Robert Gagliardi has been implicated in a series of block trades involving insider information from Morgan Stanley, according to a report by the Financial Times.Â
Crispin Odey has disclosed a £37.1m ($47m) goodwill impairment due to the closure of London-based hedge fund firm Odey Asset Management, according to a report by Bloomberg citing a registry filing.Â
