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Norwegian hedge fund First Seagull has acquired a 5.3% stake in Superdry on the back of a series of profit warnings and a share price slide that the investment firm believes makes the UK-based retailer ripe for a takeover bid, according to a report by The Times.
Activist hedge fund Elliott Investment Management has secured a board seat at online retail platform Etsy with Portfolio Manager Marc Steinberg having been appointed as a Director with effect from 5 February, according to a report by Reuters.
Hedge funds are embracing generative AI with 86% of managers now granting their staff access to various tools to bolster their work, according to a new survey by the Alternative Investment Management Association.
Eisler Capital is to become the latest member of the growing Dubai hedge fund ‘club’ with the London-based investment firm currently preparing to open a new office in the emirate, according to a report by Bloomberg.
Man Group is ditching its GLG brand in the first big change since new CEO Robyn Grew took the helm at the world’s largest listed hedge fund last September, as the firm moves into credit markets, according to a report by the Financial Times.
Quant trading firm Vatic Investments, which takes ‘inspiration’ from systematic hedge fund firm Renaissance Technologies, has hired a new team to trade statistical arbitrage strategies using client money, according to a report by eFinancial Careers.
Global fund administrator Opus has appointed industry veteran James Jackson as Executive Vice President in Halifax, Canada. The appointment follows a number of EVP and SVP level hires in the region as Opus further expands its North American footprint.
US hedge fund North Rock Capital is expanding its Asia footprint with the opening of a new office in Singapore. The move comes a year after North Rock established its first Asia office in Hong Kong, according to a report by the Straits Times.
Hedge funds achieved double-digit returns in 2023, led by equity strategies with a weighted average return of 21.91%, according to research from asset servicer Citco, which has over $1.8tn in assets under administration.
The Court of Appeal has granted Argentina permission to appeal a lawsuit brought by four hedge funds – Palladian Partners, HBK Master Fund, Hirsh Group and Virtual Emerald International, which left the country facing a potential €1.56bn bill, according to a report by Reuters.
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