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George Weiss, founder of bankrupt hedge fund firm Weiss Multi-Strategy Advisers, owes investment bank Jefferies $100m after personally agreeing to guarantee a debt package prior to the firm becoming insolvent, according to a report by Bloomberg.
Pershing Square boss Bill Ackman is planning to raise $1.05bn from the sale of a 10% stake in his hedge fund firm, giving it a valuation of about $10.05bn, with an eventual IPO, perhaps as early as 2025, being the ultimate goal, according to a report by the Financial Times.
Two US-based hedge fund firms – Glacial Capital and TRSE – have filed a complaint in a New York court against Buenos Aires province over $77m in defaulted debt on bonds issued in 2011, according to a report by the Buenos Aires Herald.
Avelacomm, a provider of connectivity solutions for global capital markets, has implemented two new low latency routes, in facilitating trading connections between Seoul in South Korea, and Hong Kong and Singapore.
Hedge funds and other investors have upped their short wagers on UK online grocer Ocado amid continuing speculation over the company’s future following its struggle to turn a profit, according to a report by ThisIsMoney.
B2C2, a provider of institutional liquidity and credit for digital assets, has opened a new office in Singapore, building on its existing presence in Japan and other financial centres.
LA-based $25bn credit hedge fund firm Canyon Partners has closed two collateralised loan obligations totalling over $1bn – the €550m European CLO, Canyon Euro CLO 2023-1, and the $500m US CLO, Canyon CLO 2023-2.
New York-based hedge fund firm Mass Ave Global and Co-Founder and CEO Winston M Feng have agreed to pay a combined $600,000 in penalties to settle SEC charges that it made “false and misleading statements” to investors in its flagship Asia hedge fund.
With a weakening yuan and fragile economy driving demand for foreign assets in China — the latest sign of low confidence among domestic investors — global fund launches in the country have hit a record high, according to a report by Reuters.
GoldenTree Asset Management has closed a $500m collateralised loan obligation – GoldenTree Loan Management US CLO 20 – to be managed by GLM III, taking the total issued under the firm’s GLM strategy to over $14bn via 26 CLOs.
