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Sacramento County Employees’ Retirement System has made a new direct hedge fund investment allocation of $50 million to the Tudor BVI Global Fund, a global macro fund managed by Paul Tudor Jones’ Tudor Investment Corp, according to a report by Pension & Investments Online.
The report cites a December transaction report included with materials released ahead of the $11.6 billion pension fund’s upcoming board meeting on 18 January as confirming the allocation.
The investment, the pensions scheme’s first with Tudor Investment, takes its absolute return allocation to 7%, in line with its stated target.
Cleavemoor, a consumer sector investment advisor, has launched Cleavemoor 10, a new open ended hybrid vehicle employing the firm’s proprietary Agile Horizon Strategy, which combines a consumer sector long/short public equities portfolio with longer-term consumer private equity investments.
McKay Brothers International’s Josada team has extended its lowest latency market data service into Shanghai, with MBI claiming that its Quincy Extreme Data service is now the fastest way to receive select CME and ICE Futures market data, including: energy, metals, FX, agricultural/softs, and equities.Â
Yasho Lahiri has joined Kramer Levin as a partner in the firm’s New York office. He will practice in the Investment Management group, broadening its private fund formation practice.
California Public Employees’ Retirement System, the largest public pension fund in the US, may start investing in hedge funds again nearly nine years after its high-profile exit from the asset class.
Investors are demonstrating a keen appetite for alternative investments. However, they are simultaneously showing a need for a certain level of liquidity. This is leading to a growing demand for semi-opened-ended alternative funds being launched in European fund domiciles.
Investment managers have seen their regulatory and compliance burden inch upwards for years. The use of management companies in jurisdictions like Luxembourg has sought to ease this load. Investment managers are welcoming the additional support provided by a third-party ManCo, allowing them to concentrate on their core capabilities of managing money.
Balyasny Asset Management has expanded its number of partners for only the third time in the $17 billion hedge fund firm’s history with seven promotions, according to a report by Business Insider.
Alan Howard, co-founder of Brevan Howard Asset Management, has seen his pay jump by 46% compared to the previous tax year to £82 million despite a 20% drop in profits at the London-based hedge fund firm to £105 million, according to a report by the Guardian.
Oil trader Pierre Andurand’s main Andurand Commodities Discretionary Enhanced hedge fund was down 19% last week as oil prices fell below $74 a barrel in New York on the back of global recession fears, according to a report by Bloomberg.
The report cites an investor letter as revealing the slump at the fund which was one of the’s best performing hedge funds in recent years with gains of 154%, 87% and 59% in 2020, 2021, and 2022, respectively. At one pint last year, the fund was up by as much as 160% before giving up some of its gains in
