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Activist hedge fund Elliott Investment has acquired a stake in US drug manufacturer Catalent, after the New Jersey-headquartered, NYSE-listed company saw revenues plunge in the first quarter. Elliott is pushing for changes on Catalent’s board after Catalent’s Q1 fell 19%, according to a report by the Wall Street Journal.
Catalent – which conducts outsourcing work for large pharmaceutical companies – had earlier delayed its results announcements three times and slashed its annual revenue forecast for the second time.
During the COVID-19 pandemic, Catalent was contracted by several companies including AstraZeneca, Johnson & Johnson and Moderna to fill vaccine vials at plants
The number of crypto hedge funds using decentralized exchanges is growing, according to analysis by BanklessTimes.com, which found 44% of crypto hedge funds now use DEXs, up from 42% in 2022 and 31% in 2021.
The rise suggests DEXs’ popularity is gaining momentum among institutional investors, according to BanklessTimes crypto expert Alice Leetham.
“The number of crypto hedge funds embracing DEXs is quite remarkable, given the challenges that still remain in terms of regulatory uncertainty and cybersecurity,” Leetham said. “It appears that more investors are now recognizing the advantages of decentralized exchanges.”
Leetham said DEXs can offer lower fees, since
GROW Investment Group, a China-based investment firm backed by Julius Baer Group and Navigator Global Investments, is looking to raise $50 million to buy stakes in domestic hedge fund managers.
Odey Asset Management’s Absolute Return fund is to reopen as the London-based hedge fund firm prepares for the transfer of manager James Hanbury to a rival firm in the aftermath of multiple allegations of sexual misconduct against Odey founder Crispin Odey, according to a report by the Financial Times.
The Arini Credit Master Fund, a $2.2bn hedge fund run by former Credit Suisse European debt specialist Hamza Lemssouguer, has racked up an 18% gain in the first half of the year, on the back of a 5.7% return in 2022, according to a report by Bloomberg.
The report cites an investor document seen by Bloomberg as revealing that assets at the firm, which Lemssouguer started last year with around $1bn from investors including Squarepoint Capital, have since almost tripled to $2.9bn.
The fund’s H1 gain is comfortably ahead of its peer group with credit hedge funds tracked by Bloomberg
Brazilian hedge-fund giant SPX Capital has issued an apology to investors in its Raptor fund – a more aggressive version of its flagship Nimitz – after a badly-timed domestic bet back-fired, according to a report by Bloomberg.
The fund lagged all 173 rivals tracked by Bloomberg over the first six months of the year, losing 9.7% after fees, with June proving to be particularly painful as Raptor posted its second-biggest monthly drop on record.
The report cites an investor letter written by SPX founding partner Rogerio Xavier, and seen by Bloomberg, as blaming wrong-way bets in Brazil as the main
Pine River Capital Management, a global relative value alternative asset manager, has appointed Abby Mongeon as a Repo Trader. She will focus on fixed income funding, working with Portfolio Managers across the firm’s fixed income relative value strategies.
Managed Funds Association, the trade association for the global alternative asset management industry, has appointed Georgette Sierra as Vice President, US Government Affairs with a focus on the development and promotion of public policies that advocate for fair, transparent, and efficient capital markets.
Prior to joining MFA, Sierra, a seasoned professional with extensive experience in government and financial services, served as Director of US Public Policy for Credit Suisse.
Previously, she held the position of Director of Government Affairs at BNP Paribas and Vice President of Government Affairs at the Financial Services Roundtable. In those roles she developed and led
Axioma, Qontigo’s analytics business and a global provider of factor risk models, portfolio construction tools, and enterprise risk solutions, has expanded its partnership with Equity Data Science, to provide hedge funds and asset managers with access to its Equity Factor Risk Model Suite.
Jonas Diedrich and Dave Sutton, former traders at Citadel, have raised $1.85bn for their new London-based hedge fund Ilex Capital Partners, exceeding their initial $1.7bn target, and making the new fund one of the biggest debuts of the year, according to a report by Bloomberg.
