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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.
Hedge fund Luxor Capital has made a last-ditch attempt to prevent the merger of auctioneer Ritchie Bros (RBA) with rival IAA Inc, by urging shareholders to oppose the proposed deal ahead of today’s special meeting of RBA shareholders.
Despite the proxy deadline having passed, Luxor has highlighted that shareholders can still revoke their proxies cast in favour of the IAA Merger.
In statement, Doug Snyder, President of Luxor which holds a 4.2% stake in the business, said: “We call on all shareholders who voted in favour of this deal to heed the warnings of Ritchie Bros’s co-founder and former president
The Depository Trust & Clearing Corporation has launched a new LIBOR Benchmark Replacement Index solution to support the finance industry’s transition from LIBOR benchmark rates to Secured Overnight Financing Rate Data (SOFR) as well as other new fallback rate indices by June 30, 2023.Â
Alternative asset management firm Hayfin Capital Management has expanded its client coverage capabilities in German-speaking Europe with the appointment of Marco Sedlmayr as head of DACH within the partner solutions team based in Munich.
Digital asset investment products saw outflows for the fifth consecutive week last week, totalling $255 million, the largest single weekly outflows on record representing 1.0% of total AuM, according to the latest Digital Asset Funds Flows Weekly report from CoinShares.
As the concept of decentralized finance continues to take root, Shawn Douglass, CEO, Amberdata, outlines the implications of DeFi developments for the financial industry…
Oaktree is one of a number of hedge funds and banks offering to acquire deposits held by startups at the failed Silicon Valley Bank, but only at steep discounts, according to reports.Â
