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Hestia Capital Management, one of the largest shareholders in Pitney Bowes, is planning to nominate a “majority slate” of board candidates at the shipping-and-mailing firm’s 2023 annual meeting of shareholders as it looks to oust the company’s current CEO and chairman, according to a report by CTInsider.
The activist hedge fund, which owns a 7.1% stake in the company, revealed in November that it was pushing for a raft of changes at Pitney Bowes, including the possible sale of the underperforming e-commerce division of the business. But now it wants to see President and CEO Marc Lautenbach and board Chairman
Hedge funds have are to come under increased scrutiny from the Financial Conduct Authority, the UK financial markets watchdog following the pension crisis in late September, according to a report by Reuters.
The globalisation of Brazil’s hedge fund sector is providing a boost to several big banks, including Goldman Sachs Group Inc, UBS Group AG and Deutsche Bank AG, as managers look to overseas investments to boost returns, according to a report by Bloomberg.
As Brazil’s hedge funds broaden their ‘outlook’ the bank’s global-markets units are seeing a boost in business by providing liquidity, lending securities and executing simultaneous trades in different regions.
Brazil-based asset management clients have upped their investment in US futures by 10% this year, according to UBS, while the report cites Ricardo Mora, co-head of Latin American the
Hedge fund Davide Leone & Partners has appointed Graham O’Mahony, a long-serving trader at hedge fund-turned-family office Adelphi Capital, as the firm’s new head of trading, according to a report by the Trade.
The report cites a social media update as confirming that O’Mahoney has made the switch to the Saville Rowe-based hedge fund after 13 years at Adelphi. Prior to that, he spent two and a half years at Metage Capital.
In April of this year, the Financial Times reported that Adelphi, one of London’s oldest hedge funds, was planning to covert to a family office following a run
Emerging managers say it’s been harder to win new business in 2022 than in 2021, with investors either backing off or doubling down on stringent investment thresholds.
While analysis of the fundraising environment yields a familiar result, the ways emerging managers differentiate themselves is continuing to evolve.
The capital-raising outlook for emerging hedge fund managers is – perhaps unsurprisingly – mixed. First, the bad news. With hedge funds’ performance suffering in recent months, the fundraising environment is back to where it was before the pandemic: investors are taking fewer risks, strengthening their thresholds for investment, and pulling money from hedge fund products on a net basis.
TOP STORY: The Teacher Retirement System of Texas, one of the largest pension funds in the US, has benefitted from a number of winning hedge fund bets placed by the likes of Citadel and Man Group, according to a report by the Wall Street Journal.
The managed futures industry posted a -1.33% loss in November following three consecutive months of gains, according to the Barclay CTA Index, compiled by BarclayHedge. Year-to-date, the managed futures industry has returned 8.24%, posting gains in nine of the past 12 months.
The Oregon Public Employees Retirement System has committed a total of around $1.6 billion to 11 alternative investment funds, including hedge funds, according to a report by Pensions & Investments Online.
The allocations were confirmed by the Oregon Investment Council Council, which oversees the pension system’s investments, and the Oregon Common School Fund which it also oversees.
The new commitments include several hedge fund investments including a total of $255 million to Bridgewater Pure Alpha Major Markets II – $250 million from the pension fund and $5 million for the Common School Fund. A total of $207.5 million has also
