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US activist hedge fund Engine Capital is agitating for a complete overhaul of Canadian fuel company Parkland Corp after accusing the firm of “staggering” underperformance, according to a report by the Financial Post.
In an open letter delivered to the Calgary-based company on Wednesday, Engine said it wants to see a sale or spin-off of non-core assets, including Parkland’s refinery and fuel distribution operations, to create a “pure play” fuel retail and convenience store business.
The letter goes on to say that if Parkland is unwilling to implement the recommendations it should consider a sale of the entire business to
Hedge fund Modulo has agreed to repay 97% of the money that companies from Sam Bankman-Fried’s bankrupt FTX cryptocurrency empire paid to it during 2022, according to a report by Reuters, citing court documents filed on Wednesday.
Aperture Investors, the $4bn New York-based hedge fund firm founded by Peter Kraus, has launched the Aperture Emerging Debt Opportunity Fund, which will employ a value-oriented fixed-income strategy and invest in corporate, sovereign, and quasi-sovereign debt securities of selected emerging markets.
A portion of the fund was seeded by Generali and is available to investors in certain countries within the European Union.
According to Aperture, the objective of the fund is to generate returns in excess of the JP Morgan Emerging Markets Bond Index Global Diversified (EMBI Global Diversified Index) by investing, either directly or indirectly, in different financial asset
Morgan Stanley is the latest firm to benefit from a Goldman Sachs defection with Brett le Roux, a cross-asset hedge fund sales executive working in Goldman’s London office, joining the firm as an executive director, according to a report by eFinancial Careers.
The US Securities & Exchange Commission has postponed a planned vote on a proposed new rule aimed at protecting the stability of the financial system by detecting risk in the $20 trillion private asset management sector.
Hedgeweek exclusive: TT International’s Charlotte Roden discusses re-emerging interest in Europe-focused equity investment strategies among US investors following years of lukewarm sentiment.
Bank additional tier-1 bonds, including those of Credit Suisse, are attracting the attention of large hedge funds and distressed debt investors, who are buying them up at discount prices, according to a report by Reuters.
Wild swings in the bond markets have proved a big problem for Said Haidar with his flagship Jupiter macro hedge fund set to record its biggest-ever monthly loss since its inception over two decades ago, according to a report by Reuters.
Unnamed Reuters sources have revealed that on Friday, the fund was down by almost a third (32%) for the month, taking year-to-date losses to 44%, a sharp reverse for Haidar’s clients who saw their investments return 193% last year.
According to one Reuters source, Haidar, who is known for his highly leveraged strategy, took a big hit on his
Emerging markets hedge funds surged in January, extending Q4 gains driven by rising US rates and continuing generational inflation, according to the HFRI 500 Emerging Markets Index, which jumped +4.9% over the month with gains seen across equity hedge and cryptocurrency exposures.
HFR says EM hedge funds continued to navigate unprecedented uncertainty associated with the ongoing military conflict in Ukraine, with the HFRI EM: Russia/Eastern Europe Index falling -11.9% in December 2022, bringing the Full Year 2022 decline to -40.3%; the Index advanced +2.1% in January to begin 2023.
The investable HFRI 500 Fund Weighted Composite Index, which includes funds
P Schoenfeld Asset Management has added a ‘new’ portfolio manager to its London-based team with the rehiring of Giuseppe Di Mino, who will focus on EMEA and APAC event-driven investment opportunities in the equity and credit markets, according to a report by Alternatives Watch.
