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Ken Griffin, founder of hedge fund Citadel and market-making firm Citadel Securities has cautioned that wealthy investors may not fully understand the risks embedded in private credit, particularly the limitations on accessing capital during periods of market stress, according to a report by the Financial Times.
Spirit Airlines’ efforts to secure a $500m US rescue financing package have hit a roadblock, with key creditors – including hedge fund giant Citadel – resisting proposed terms, according to a report by Bloomberg News.
Hedge funds dominated demand for Contemporary Amperex Technology Co Ltd’s $5bn share placement, with short covering playing a key role as traders moved to unwind bearish bets on the battery maker’s Hong Kong-listed stock, according to a report by Bloomberg.
Louisville-based hedge fund Aristides Capital has lost a key investor following a political dispute, highlighting growing tensions in parts of the asset management industry where managers’ public views are increasingly coming under scrutiny, according to a report b Institutional Investor.
Dynatrace Inc shares climbed more than 6% in after-hours trading following reports that activist investor Starboard Value LP has taken a position in the software company and is encouraging it to better position itself around the growth of artificial intelligence, according to a report by the Wall Street Journal.
Millennium Management has hired the former chief technology officer of a major high-frequency trading firm to work on ultra-low-latency trading systems, underscoring continued investment by hedge funds in advanced execution technology, according to a report by eFinancial Careers.
Hedge funds have been using the recent rally in US equities to reduce risk and scale back positioning, according to a report by Bloomberg citing a client not from traders on the prime brokerage desk at Goldman Sachs Group Inc.
Boaz Weinstein’s Saba Capital Management is preparing to raise around $1bn for a new investment strategy aimed at purchasing stressed and illiquid private credit funds, according to people familiar with the matter.
Redwood Capital Management is planning to raise approximately $1bn for a new fund focused on long-term, illiquid credit investments, as restructuring processes across stressed debt markets continue to extend in duration, according to a report by Bloomberg.
Bill Ackman’s Pershing Square is expected to raise around $5bn through a new closed-end fund IPO, marking one of the largest listings in the asset management sector in recent years, according to a report by Reuters citing unnamed sources familiar with the deal.
