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Activist investor Politan Capital Management (Politan), an 8.8% stockholder of Masimo Corporation (Masimo), has filed a lawsuit in the Court of Chancery of the State of Delaware against the company and its board of directors in response to attempts by the company to institute a stockholder rights agreement – commonly known as a poison pill.
Politan alleges that many of the Bylaw Amendments adopted by Masimo are unprecedented among publicly traded companies. They require providing information that a nominating stockholder either does not have access to, or is prohibited from disclosing, due to confidentiality obligations.
Politan recently submitted a draft
Seasoned short-seller Jim Chanos, who famously exposed – and profited from – the accounting scandal at Enron, has partnered with London-based Green Ash Partners to launch a new equity long/short hedge fund, according to a report by Bloomberg.
Assets at Polymer Capital Management have hit $4.3 billion following a 65% surge so far this year, bucking a wider industry trend of outflows amid ongoing market volatility, according to a report by Bloomberg.
Crypto hedge fund Edge Capital Management, has raised a combined $66.78 million for a US-based fund and a Cayman Islands fund focused on decentralised finance, according to a report by CoinDesk.
The report cites regulatory filings submitted to the US Securities and Exchange Commission on 19 October as revealing that the Edge DeFi Fund LP has raised about $28 million from eight investors since sales opened on 1 February, while the Cayman Islands-based Edge DeFi Offshore Fund has sold about $38.6 million to six investors since opening for sales at the start of October 2021.
Edge Capital hasn’t set any
Hedge fund Starboard Value is living up to its activist billing by disclosing a major position in a new company for the third time this week, according to a report by Bloomberg.
The latest company to attract Starboard’s attention is Vertiv Holdings, which went public in February of 2020 after a merger with SPAC GS Acquisition Holdings. Starboard has acquired a 7.4% stake in the digital infrastructure provider and is reportedly seeking ‘operational improvements’ a the company.
Starboard, which according to a 13D filing began accumulating its position in Vertiv back in August, has reportedly held talks with the company’s
The gross return of the SS&C GlobeOp Hedge Fund Performance Index for September 2022 measured -2.87%.
Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index, meanwhile, declined 1.04% in October.
“SS&C GlobeOp’s Capital Movement Index was -1.04% for October 2022, indicating net outflows from funds. This result was in line with longer-term averages for October but represents a decrease from the 0.11% gain reported a year ago,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Since the outbreak of COVID-19, hedge funds have enjoyed strong asset retention, with net capital flows running at or near
Virtus Investment Partners, which operates a multi-boutique asset management business, is to acquire AlphaSimplex Group, LLC, a manager of liquid alternative investment solutions with $10.9 billion of assets under management, from Natixis Investment Managers.
AlphaSimplex is a provider of systematic alternative investment solutions for institutional and individual clients. Its offerings are designed to adapt to changing market dynamics and provide the potential for positive, uncorrelated investment returns even through the market’s most challenging periods. Among its strategies is its flagship trend-following managed futures strategy offered via the 5-Star Morningstar Rated $3.5 billion AlphaSimplex Managed Futures Strategy Fund (ASFYX), which is
Broadridge has appointed Stephen Johnston as Managing Director, Client Delivery Operations for Broadridge Fund Communication Solutions (FCS). Johnston will be responsible for all of the client servicing operations of the Fund Communication Solutions business, with Service Leads as his direct reports, and will be supported by FCS’s teams that span Ireland, UK, India and Poland.
The Alternative Investment Management Association (AIMA), a global representative for the alternative investment industry, and its private credit affiliate, the Alternative Credit Council (ACC), has welcomed the political agreement on the European Long-Term Investment Funds (ELTIF) Regulation confirmed earlier this week.
The modernisation of the ELTIF framework will lead to a significant increase of investment into the EU economy at a time when traditional sources of financing are becoming more challenging for businesses to access.
The new rules will make it easier for asset managers to launch products that cater to both institutional and retail clientele with additional
How a constantly evolving mix of hybrid and remote working, longer notice periods, changing salary structures, incentives, and company culture is potentially retooling hedge fund talent development…
With so much of the hedge fund industry tied to performance, market participants acknowledge it is tricky to identify any discernible salary and compensation trends across the investment and trading functions, particularly this year where dispersion in manager returns has been pronounced. At the same time, the size and significance of the management fee within a traditional hedge fund fee structure is often overlooked, according to some.
Noting how the fee structure-compensation dynamic
