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Hong Kong-based hedge fund BFAM Partners, an investment vehicle of US hedge fund Davidson Kempner, and other investors, have filed a lawsuit in New York seeking $201 million in debt repayment from Chinese property developer Glory Health, according to a report by Reuters.
The report cites a court filing dated 14 April as revealing that the group claim they are owed $141.4 million in principal, $9.4 million in premiums, and $50.4 million in interest.
According to the filing, Glory Health issued offshore bonds worth $334.8 million with 14.25% annual interest in February 2022, and promised to redeem at least $9.6
Activist hedge fund Engine Capital, which has been agitating for a shakeup at US convenience store and fuel station owner Parkland Corp, is to oppose the re-election of the company’s board members, according to a report by the Globe and Mail.
The report cites a letter sent by the New York-based firm to Parkland on Thursday as revealing that it wants to see the company either broken up or privatised, having had its requests to meet with directors rebuffed.
Engine Capital owns roughly 2 per cent of the shares of Parkland which owns thousands of convenience stores and gasoline stations
Tom Wagner, co-founder of hedge fund Knighthood Capital Management, is closing in on the acquisition of a stake in English Football League club Birmingham City FC, according to a report by Bloomberg.
The Managed Funds Association, the global trade association representing the alternative asset management industry, has submitted a comment letter to the Federal Trade Commission on the proposed rule to ban non-compete agreements.Â
Rising demand from hedge funds is expected to propel the growth of the alternative data market in the coming years, according to a new report from Research & Markets, with the market expected to grow to $18.94 billion in 2027 at a CAGR of 41.4%.
The global alternative data market grew from $3.23 billion in 2022 to $4.74 billion in 2023 at a compound annual growth rate (CAGR) of 46.7%.
According to study in 2020, jointly published by AIMA and SS&C, which quizzed nearly 100 hedge fund managers globally, out of which approximately 25% of those surveyed are considered “market
Options Technology has expanded its onshore trading infrastructure offering in Taiwan to facilitate low latency market access for clients to TWSE, TAIFEX and TPEx with access to the latest trading infrastructure and global connectivity to trade across APAC and the global markets.
Options says the expansion of its onshore services in Taiwan (Banqiao IDC, Chunghwa Telecom) is a key part of the company’s growth strategy, as it seeks to provide clients with low latency and robust service connectivity solutions to exchanges across the region.
With the onshore expansion, Options Technology believes it is well-positioned to meet the growing demand for
Broadridge Financial Solutions has expanded its partnership with Linedata, a global provider of asset management and credit technology data and services, by integrating its NYFIX Matching solution directly with Linedata’s Order Management System (OMS).
Linedata Longview OMS clients will benefit from Broadridge’s NYFIX Matching solution, enhancing Linedata’s post-trade matching capabilities.
In addition, the integration offers mutual clients an alternative to other trade lifecycle processors.
The companies say that Linedata clients and corresponding brokers will “gain cost efficiencies with this straightforward yet robust workflow solution” as a result of the integration.
Eamonn Greaves, Managing Director, SS&C Technologies discusses the drivers behind the trend towards lift-out outsourcing arrangements and the factors managers mulling such a move should keep in mind.
Minal Bathwal was a stand-out performer at Brevan Howard in March, making money as market turmoil saw the macro trading firm’s flagship fund rack up its largest monthly loss since 2003, according to a report by Bloomberg.
China-based hedge funds Shanghai Bull Asset Management and Shanghai Silver Leaf Investment Co have both booked big returns by exiting lucrative trades on the country’s property bonds, according to a report by Bloomberg.
