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Acadian Asset Management is to introduce a systematic credit capability to serve growing client demand and has hired Scott Richardson as director, systematic credit to lead this effort.
Richardson will build out and lead a team of portfolio managers, researchers, traders, and support personnel focused on this new initiative, with plans to seed the first strategies in 2023. This work will initially focus on corporate credit-based strategies including high yield corporate, investment grade corporate, and credit long-short.
Richardson has over 15 years of experience in leading both systematic equity and credit investing at BGI/BlackRock and AQR. He has over
Maven 11, an Amsterdam-founded blockchain and crypto asset investment firm, has appointed Derk Aalbers as director finance and operations.
Algebris Investments, a global asset manager specialising in financial credit and equity, has appointed Samuel Sibony as co-portfolio manager, managing $620 million in the Global Credit Opportunities strategies.
James Friedman will continue to lead the team as lead portfolio manager.
The Global Credit Opportunities strategies are managed on the basis of a team approach with Sibony working alongside the members of the existing Global Credit Opportunities portfolio management team – Gabriele Foà (co-portfolio manager), Simone Mallardi (co-portfolio manager) and Lennart Lengeling (investment analyst).
Sibony joins from DC Advisory, where he was a senior member of the London-based restructuring team, covering
Atlas Responsible Investors (Atlas), a French independent investment management firm, has launched a UCITS version of its Long/Short impact equity strategy.
Atlas has been running this strategy for three years for family offices; under a UCITS format, the fund will give a wider access to this unique fusion of authentic responsible investing and traditional equity long/short virtues. Both sustainability and absolute returns are the very core of one of the first SFDR9 absolute returns strategies.
Atlas was established in 2019 by Quentin Dumortier, with a mission to align capital with purpose. With the guidance of its Chief Impact Officer,
VARUNA Technologies (VARUNA), the European technology-driven investment platform, has launched its Dutch-domiciled VARUNA Navigator Fund, which will employ a multi-strategy approach, investing across a variety of asset classes and applying systematic technologies across its whole investment process, including research, allocation and trading.
VARUNA is led by Adrian Fraenkel and Michael Goldbacher, co-CEOs and Founders, who over the past two years have assembled a world-class team of quant specialists. This includes Magrino Bini, CTO, who has developed the VARUNA infrastructure and has previously worked in quantitative trading at UBS, Millennium Capital Partners and Capstone Investment Advisors.
The VARUNA team currently comprises
Keystone Investors Pte, a hedge fund spinoff from Schonfeld Strategic Advisors, which began trading on 1 April, has now raised more than $750 million, according to a report by BNN Bloomberg.
Schonfeld has backed the fund, which focuses on Greater China stocks, but the report cites Keystone Investors’ CEO Ken Tinkinson as saying that the majority of money has been raised from other investors. The fund is currently closed to new capital in a bid to manage asset size but plans to reopen in the fourth quarter, according to Tinkinson.
New York-based Schonfeld, which manages $13.8 billion in outside capital,
The liquidators of Three Arrows Capital (3AC) have been granted a motion to subpoena the missing founders and potential creditors of the troubled cryptocurrency hedge fund, according to a report by BeInCrypto.
Liquidators Teneo secured the motion at a court hearing on 12 July and are also seeking to contact asset exchanges with connections to 3AC in a bid to preserve the hedge fund’s assets.
Founders Kyle Davies and Su Zhu are reportedly failing to cooperate with Teneo and as of 9 July their whereabouts was unknown. While lawyers representing Zhu and Davies appeared on a Zoom call with Teneo
The hedge fund industry posted a -4.16% return for June which made for its third consecutive down month according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions.
Hedge funds did however fare markedly better than the S&P 500 Total Return Index which lost -8.25% over the month.
For the year-to-date range, hedge funds are down -9.93% through June, again outperforming the S&P 500 Total Return Index which was down -19.96% over the same interval.
Only three subsectors managed to avoid red ink in June and those that did eked out only modest gains. These
Pryor Cashman has appointed Robert M Friedman and Richard C Leska as partners in the firm’s Corporate Group.
Friedman was formerly a partner at Moses & Singer, while Leska was formerly a partner at Meister Seelig & Fein.
Friedman has extensive experience representing clients in the formation of private investment funds in venture capital, growth, buyout, mezzanine, infrastructure, secondary investment, special opportunities, real estate, hedge, debt, and art asset classes in the United States, Europe, India, Israel, and Japan. He also advises management of private investment funds in structuring general partners and management companies, and in the full range
Dinosaur Group Holdings (Dinosaur) has appointed Luis Rangel, a financial and commodities market executive, as managing director, commodities.
In this newly created position, Rangel will focus on physical commodity and derivative markets, supporting clients in merchant banking, trading, risk management and advisory services.
Rangel has 20 years of experience working for banks and brokerage firms where he serviced a multitude of global food companies, international merchants, processors and hedge funds. In addition, he spent 11 years in director level roles at Nestle and Diageo, leading their global grain and commodity purchasing as well as their price risk management strategies. Rangel
