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The switch of the Ethereum blockchain from proof of work to proof of stake – aka The Merge – has had hedge funds in a betting frenzy with managers scooping up options on ether tokens, Ethereum’s flagship token, according to a report by The Financial Times.
Philip Morris International (PMI) is coming under pressure to up its $16 billion bid for Swedish Match following news that some of the world’s largest hedge funds have built stakes in the smokeless tobacco company, according to a report by BNN Bloomberg.
The report cites unnamed sources as revealing that Davidson Kempner Capital Management and HBK Capital Management are among the funds to have built sizeable stakes Swedish Match. Both are reportedly approaching the 5% limit which equates to nearly $800 million in stock, beyond which disclosure would be required.
With DE Shaw & Co, Farallon Capital Management and Pentwater
Hedge funds would be impacted by the US Securities and Exchange Commission’s (SEC) new proposed draft rules on the use of central clearing in the $24 trillion Treasury market aimed at boosting its resilience, according to a report by Bloomberg.
The Alternative Investment Management Association (AIMA), has announced the directors of its governing body, the AIMA Council, for the 2022-2024 term with effect from 14 September.
ACA Group, a global provider of governance, risk, and compliance (GRC) solutions to clients in the financial services industry, has launched a dedicated outsourced chief compliance officer (OCCO) practice for the financial services industry.
Bets by a number of global hedge funds on further falls in the value of the won are behind the South Korean currency’s continuing fall in value, according to a report by Korea Economic Daily.
The report cites foreign exchange dealers as claiming that a continued decline in the value of the currency, which recently hit a 13-and-a-half year low is attributable to bets by multiple global funds, including the the world’s largest hedge fund Bridgewater Associates. The funds have reportedly sold the won in offshore non-deliverable forward (NDF) markets, in which they would buy it back in the coming
Apex Group, a global financial services provider, is expanding its business in the Nordics region, with the launch new services delivered from its office in Sweden.
The Securities and Exchange Commission (SEC) has charged registered investment advisers Hudson Advisors and Lone Star Global Acquisitions for including Hudson’s owner’s anticipated income tax liability as a component of certain fees charged to 14 funds they managed.
Third Point founder Daniel Loeb has cooled on his plan to see Disney’s sports broadcaster ESPN spun off into its own standalone business, according to reports.
SS&C Technologies Holdings has appointed Bhagesh Malde to lead its newly combined global fund administration and servicing business. The new group will continue to operate as SS&C GlobeOp and brings together SS&C’s hedge fund administration, private markets administration, middle office, and insurance global servicing capabilities.
Key services also include middle- and back-office outsourcing and loan servicing. Bhagesh in this role will report to Rahul Kanwar, President and COO.
AUM in the global alternatives industry is expected to nearly double to $23.21 trillion by 2026. A bullish new report from Preqin predicts the growth will be fuelled in large part by
