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US hedge fund manager Tom Wagner, the co-founder of Knighthead Capital Management, which oversees about $9 billion and focuses on event-driven investing and distressed credit, has had his takeover of Birmingham City FC apportioned by the English Football League (EFL).
Knighthood Capital Management-owned Shelby Companies Limited, last month agreed a deal to buy 24% of the club’s shares from Birmingham Sports Holdings (BSHL) and an additional 21.64% from Oriental Rainbow Investments Limited, and Achiever Global Group Limited, for a consideration of about £5.3 million ($6.7 million) in cash, along with a series of subsequent payments if Birmingham City FC is
Eisler Capital, the $4.3 billion hedge fund firm founded by Edward Eisler, has added another bank trader to its team, with the appointment of Hersh Patel as a portfolio manager based in London, according to a report by eFinancial Careers.
Before joining Eisler, Patel worked as an emerging markets trader at Bank of America for eight years, and at Barclays for eight years before that in a similar role.
Eisler has been one of the most prominent recruiters of former bank traders so far this year, picking up former Goldman Sachs partners and quants, as well as traders from the
Michael Haddad, the former deputy CIO and interim CIO of the New York City Comptroller’s Bureau of Asset Management, has been appointed as deputy chief investment officer at Cinctive, a New York-based hedge fund with over $1 billion in assets, according to a report by Reuters.
While Cinctive has traditionally focused on long-short equity strategies, the firm hired a team to add macro strategies to its offering last year, and according to co-CIO Larry Spanski, Haddad’s appointment will help the firm as it expands beyond stock trading into macro and quantitative strategies.
Prior to joining the NYC’s Bureau of Asset
Global law firm K&L Gates LLP has appointed Ron Feldman as a partner in the firm’s Asset Management and Investment Funds practice. He joins the firm’s London office from Fieldfisher LLP, where he served as the leader of the hedge fund team.
StoneX Financial Ltd, a wholly owned subsidiary of StoneX Group Inc, has expanded its institutional prime brokerage offering with the launch of a multi-asset CASS compliant custody solution coupled with new financing capabilities, which include repo financing and securities lending, under the banner of its London based StoneX Institutional Prime product.
StoneX has also added to its team with the hiring of Gary Clifford-Newman (Cross Asset Sales) and James Barten (Head of EMEA Security Financing) to bolster growth and capabilities within London Prime Services. These hires follow the appointment of Andrew Sterry in October 2022 to head the newly created
Cboe Clear Digital has received the necessary approval from the Commodity Futures Trading Commission to expand its product offering to include both physically and financially cleared margined futures contracts for bitcoin and ether.Â
London-headquartered hedge fund firm Marshall Wace has appointed Todd Builione, a partner and global head of private wealth at its private equity backer KKR, to run its US business in New York, according to a report by The Financial Times.
Hedge funds sold European equities last week to invest in stocks in the United States and Japan on the back of strong economic data boosting equity markets in both countries, according to a report by Reuters, citing client notes from JP Morgan, Morgan Stanley and Goldman Sachs.
A strong US jobs report and news that an agreement had been reached to avert a US debt ceiling crisis saw the S&P 500 Index jump to its highest since last August on Friday, while investors betting on the Bank of Japan will retain its ultra-loose policy, pushed the Nikkei to a 33-year
Engine Capital LP, an activist hedge fund that owns approximately 2% of the outstanding shares of Avantax, Inc, has written a letter to the company’s board of directors, urging the tax-focused wealth management services provider to consider “strategic alternatives”, including a sale of the business.
Engine has commended the company for the sale of its TaxAct software division to Cinven to focus on its core business, but believes that despite returning the proceeds of that sale to stockholders through a Dutch tender offer and regular share buybacks, the company’s stock “continues to trade at a meaningful discount to its strategic
Ongoing challenges in the digital assets market, including regulatory uncertainty, have prompted Los Angeles-based cryptocurrency hedge fund Arca to lay off 30% of its staff, according to a report by CoinDesk.
