Latest News
Citadel has continued investing in its energy trading business with the appointment of Patrick Reichert from Morgan Stanley as Head of Structuring and Portfolio Optimisation in the energy marketing business, according to a report by eFinancial Careers.
Saba Capital Management, the credit relative value focused hedge fund firm founded by Boaz Weinstein, has filed a dissident proxy circular in connection with a special meeting of the Citadel Income Fund, a Canada-based closed-end investment trust.
The filing is the latest move in the firm’s wider campaign against closed-end funds trading at a discount.
According to a statement, New York-based Saba has requested the 11 September meeting to try and oust the fund’s current trustees and manager Artemis Investment Management Ltd, and to approve the fund’s “timely wind-up and liquidation”.
“After nearly seven months, we are pleased that Citadel
A rush to cover bearish short positions by hedge funds and other investors has seen benchmark crude oil prices hit the highest level seen in three months following voluntary OPEC production cuts led by Saudi Arabia, according to a report by Reuters.
The report cites data from the US Commodity Futures Trading Commission and ICE Europe as revealing that hedge funds and other money managers purchased the equivalent of 52 million barrels in the six most important petroleum futures and options contracts over the seven days ending on 25 July, taking the total number of barrels purchased over the four
British hedge fund Oceanwood Capital Management is looking to cut its holding in Spanish Bank Unicaja by selling 117 million shares via an accelerated bookbuilding process, according to a report by Reuters citing information from book runner BOFA Securities.
At Tuesday’s closing price, the stake on offer, which equates to 4.4% of the bank’s stock, was worth around €124m euros ($136.04m). Oceanwood currently holds a 7.4% stake in Unicaja, which is Spain’s fifth largest bank with around €110bn in assets.
In a filing with the Spanish stock market regulator CNMV after the closing bell, BOFA Securities said bookbuilding was starting
London-based hedge fund Shinfalls Commodities has secured a new investment from New York-based investment manager New Holland Capital, including significant trading and working capital and foundational support for the firm to begin its trading operations.Â
Wedbush Securities has appointed Adam Greenberg as Vice President of Prime Brokerage in the firm’s New York office. Greenberg will tap his extensive network of hedge fund and service providers to generate exclusive opportunities for the firm’s prime brokerage clients.
Greenberg’s career in prime services spans over a decade, starting with Barclays, before spells with both Wells Fargo Securities and Clear Street.
Greenberg received his Bachelor’s degree in Finance from Bentley University and holds his Series 7, 63 and 99 licenses.
Man Group, the world’s largest listed hedge fund manager, saw its assets under management hit a record high of $151.7bn in the first half of 2023, surpassing analysts expectations, according to the company’s half-year results for the six months ended 30 June 2023.
Global long-short hedge funds, which are on course to post their worst monthly performance since May 2022, were forced to unwind bearish bets in both their long and short books in July, according to a report by Reuters.
The report cites data from Goldman Sachs’ prime brokerage division as revealing that while the majority of losses were on the short side of portfolios, there was also a “material deterioration in the long side”.
The overall stock market rally, which tends to benefit long bets, means that hedge fund were still up 0.49% in July, but that performance trails the S&P
Toh Ne Win has become the latest Morgan Stanley Managing Director to make a switch to the buy-side, leaving the bank after more than two decades to join hedge fund Millennium Management as Head of Risk Technology, according to a report by eFinancialCareers.
While the multi-strategy major founded by Izzy Englander has recently been focusing its tech team on Miami rather then New York, Win will be staying in the Big Apple where he spent the last 20 years and two months with Goldman, most recently serving as Chief Data Officer for Global Markets.
According to his LinkedIn profile, Win
Citadel Securities, the market-making firm owned by Ken Griffin, founder of multi-strategy hedge fund major Citadel, has appointed Tony Tang, the former head of BlackRock’s China business, to head up its operations in China, according to a report by Reuters.
