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Hedge fund Millennium Management has recruited three equities traders from rival Citadel as competition for investment talent intensifies among the industry’s largest multi-strategy firms, according to a report by Bloomberg.
Activist hedge fund Irenic Capital Management has hired former Apollo Global Management principal E‑Fei Wang as managing director and head of private equity as the firm expands its private equity practice, according to a report by Bloomberg.
Goldman Sachs is pitching hedge fund clients a derivative strategy that would allow them to take bullish or bearish positions on corporate loan markets, according to a report by the Financial Times citing an unnamed source familiar with the discussions.
Global markets staged a sharp turnaround on Monday as hopes grew that the conflict between the US and Iran may soon de-escalate, triggering a rebound in equities and bonds after days of heavy volatility that has challenged hedge fund trading strategies, according to a report by Bloomberg.
Momentum strategies, long favoured by hedge funds chasing winners and selling laggards, saw one of the steepest reversals in years last week as markets reacted to the US-Iran conflict, disappointing February jobs data, and AI-driven tech disruption, according to a report by Bloomberg.
New York-based hedge fund Taproot Management, founded by David Lin and ex-Two Sigma executive Jason Beverage, has posted losses since its launch last summer, as it attempts to deliver multistrategy-style returns without a traditional PM structure, according to a report by Business Insider.
A US federal judge has approved a $29m payment to Pfizer as part of a long-running dispute tied to the insider trading case involving SAC Capital Management, the former hedge fund run by billionaire investor Steven A Cohen, according to a report by Reuters.
A former portfolio manager at Citadel has launched hedge fund NovaCore Capital after securing more than $250m in initial investor commitments from several investors, including Squarepoint Capital and Lighthouse Investment Partners, according to a report by Bloomberg.
Hedge fund manager and Odey Asset Management founder Crispin Odey is set to contest a ban from the financial services industry and a £1.8m fine imposed by the UK regulator, with a tribunal hearing scheduled to begin this week in London, according to a report by The Times.
Hedge funds increased bearish positions on US equities last week as escalating geopolitical tensions and market volatility weighed on investor sentiment, according to a report by Bloomberg citing data from Goldman Sachs.
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