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Activist investor Carl Icahn is preparing to launch a proxy fight at Illumina, seeking three board seats, prompted by the biotech company’s $8 billion acquisition of cancer screening start-up Grail, which Icahn says is now costing the company $800 million per year, according to reports.
Icahn has nominated Vincent Intrieri, Jesse Lynn, and Andrew Teno to Illumina’s board and claims that three shareholder representatives are needed to put an end to what he calls “reckless decision-making.”
Shares in Illumina surged more than 20% on Monday after Icahn sent a letter to the company’s shareholders alleging that the “ill-advised” Grail purchase
According to a new study from fintech Exabel, over half (53%) of portfolio managers and investment analysts who focus on fundamental investing say an overload of alternative data and the difficulty in prioritising it, is the biggest challenge to extracting benefits from its use.
Some 21% meanwhile, say its quality is sometimes not good enough, while 15% of respondents surveyed by Exabel identified difficulties in integrating alternative data into their systems as their biggest challenge.
Alternative data is defined as non-traditional data that can provide an indication of future performance of a company outside of traditional sources such as company
RBC BlueBay Asset Management has appointed Ian Clarke as Senior ESG Analyst, as the firm continues to incorporate environmental, social and governance considerations across its BlueBay fixed income investment platform.
Parameta Solutions, a provider of OTC indicative and trade data, and Numerix, an OTC analytics and derivatives pricing company, have formed a new partnership to develop automated, independent, fair valuations of OTC derivatives to market participants.
With the ability to use Parameta’s market OTC data alongside Numerix’s analytical capabilities, the firms say the partnership is aiming to provide “a cost efficient, differentiated offering to a high growth sector”. The introduction of FRTB meanwhile, has reinforced the need for banks to have access to high quality data in order to accurately mark their OTC positions.
The two firms say they
Hedgeweek exclusive: Lombardi Capital founder – and ex-Soros PM – Igor Kryca explains why some US investors are wrong about European equity markets and highlights the opportunities the lack competition is creating.
The last seven years have been challenging, but Gardena Capital has kept steady through the storms. Cristiano Committeri, Director at Gardena talks through the firm’s investment philosophy and how the team prioritises its clients.
Stax LLC, a global strategy consulting firm specialising in commercial due diligence, value creation, and exit planning for private equity firms, PE-backed companies, hedge funds, and investment banks, has opened a new office in London, which will serve as the base for the firm’s European operations.
The office expansion follows Stax’s acquisition of AMR International, a London-based strategy consulting firm, in 2022.
In a statement, Stax president Jayson Traxler, said: “As Stax continues to grow, our new London office is part of our growth strategy to provide value to our private equity, hedge fund, and investment banking clients in EMEA.”
Hedge funds are set to profit from the rout in bank stocks triggered by the sudden demise of Silicon Valley Bank and Signature Bank thanks to bearish positions against the banking sector, according to a report by Reuters.
London-based hedge fund firm Marshall Wace has appointed Amit Rajpal as managing partner and portfolio manager. In his new role, Rajpal will report directly to Paul Marshal, co-founder of the firm, which began operations in 1997 managing $50 million and now manages around $64 billion.
Rajpal, who was previously Marshall Wace’s Asia CEO and portfolio manager of the firm’s global financials strategy based in Hong Kong, is moving to London for his new role.
According to his LinkedIn profile, Rajpal has spent over 14 years with Marshall Wace having joined the firm in 2008 as a portfolio manager before being
Rodrigo Ostik has become the latest bank trader to join BlueCrest, with the London head of sterling rates and inflation trading at Japanese bank Mizuho joining the firm as a portfolio manager based in London, according to a report by eFinancial Careers.
