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WorldQuant, the Connecticut-headquartered hedge fund firm founded in 2007 by ex-video game programmer-turned portfolio manager Igor Tulchinsky, has appointed James Henderson as deputy general manager based in London, according to a report by Reuters.
Effissimo Capital Management, a Singapore-based activist hedge fund, could be in line to make a profit of around ¥100 billion ($768 million) from Toshiba Corp’s buyout by a consortium led by domestic private equity firm Japan Industrial Partners, according to a report by Bloomberg.
Toshiba has accepted a ¥4,620 a share offer from the consortium to acquire the business, which means that the value of Effissimo’s stake has roughly doubled since it disclosed its holding back in 2017.
Exactly how much Effissimo, Toshiba’s largest shareholder, paid for its 9.9% stake, isn’t known, but according to Bloomberg News analysis of the
New York–based hedge fund Marathon Asset Management made a profit of around $30 million in just a few days, after a well-timed bet on Credit Suisse Group AG bonds paid off, according to a report by Bloomberg.
An anonymous Bloomberg source revealed that Marathon accumulated around $150 million worth of bonds in Credit Suisse’s senior operating company (OpCo) at discount rate, days before the bank made its offer to buy back the debt at an inflated price.
The stricken bank was subsequently acquired by rival UBS in a Swiss government-backed rescue deal, but the bonds bought by Marathon were tendered
Nickel Digital Asset Management, the London-based digital assets hedge fund manager founded by Bankers Trust, Goldman Sachs and JPMorgan alumni, is calling for more crypto exchanges to integrate with Off Exchange Settlement solutions, which it says will dramatically reduce counterparty risk, protecting investor capital against FTX-like events.
RBC BlueBay Asset Management, a provider of global investment management services and solutions to institutional and wholesale investors through separate accounts, pooled funds, hedge funds, and specialty investment strategies, has appointed Monica Yan as Consultant Relations Director, UK & Ireland.
It has been a challenging time to raise capital, and emerging managers have needed to pivot from traditional marketing techniques to find new ways to be successful. New managers’ track records and the way they communicate about their portfolios are taking on a greater level of importance.
The Hedge Fund Leadership Summit is an invite-only gathering for hedge fund operational leaders, that will explore the current trends, future drivers, and mission-critical tools pushing positive business growth.
Standard General is suing the US Federal Communications Commission over its decision to hold hearings into the hedge fund’s planned $5.4 billion acquisition of TV station operator Tegna, according to a report by Reuters.
New York-based hedge fund firm Mass Ave Global, has written to investors informing them that it has decided to liquidate its China and Asia-focused funds and close its office in Hong Kong, according to a report by Reuters.
In a letter to investors in the firm’s flagship Mass Ave Global Partners fund, seen by Reuters, the firm wrote: “After careful consideration, we have determined that it is in the best interest of the master fund, the offshore fund and the US fund that all investors will be compulsorily redeemed and withdrawn.”
While not specifying a reason for the fund closures,
Dutch chemicals producer OCI is to hold a strategic review of its business after Inclusive Capital Partners, the activist hedge fund firm founded by Jeff Ubben, urged the company to consider asset sales to boost value, according to a report by Bloomberg.
In a telephone interview with Bloomberg on Tuesday, CEO Ahmed El-Hoshy said OCI will “examine all potential suggestions” proposed by Inclusive, which holds a 5% stake in the business.
In a letter seen by Bloomberg to OCI executive chairman Nassef Sawiris on Tuesday, Ubben said that he believes the €6.1 billion company is “both misunderstood and under-analyzed,” and
