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Balyasny Asset Management (BAM) is set to expand its presence in the United Arab Emirates, with the $29bn multi-strategy firm preparing to open an office in Abu Dhabi’s ADGM, two years after establishing its first regional base in Dubai, according to a report by Bloomberg.
Activist hedge fund Barington Capital Group has opened a fresh proxy battle with Matthews International, nominating three directors to the board in a renewed push for governance and portfolio changes at the US manufacturer, according to a report by Reuters.
Man Group is set to expand its Middle East footprint with plans to open an office in Abu Dhabi, joining a wave of global hedge fund managers building out operations in the UAE’s fast-growing financial centres, according to a report by Bloomberg.
Institutional digital assets manager CV5 Capital has teamed with Arkangel Wealth Management to launch Arkangel Fund SP, a new digital assets hedge fund that employs a systematic, market-neutral quantitative investment strategy.
CIFC Asset Management has selected HUB, a SaaS solution designed to simplify and automate investment operations, to streamline its NAV reconciliation and oversight processes.
James Rubinstein, formerly head of execution services at hedge fund ExodusPoint, has joined electronic market maker GTS Securities as a managing director, according to a report by eFinancialCareers. He is understood to have started in the New York-based role around two weeks ago.
The US Securities and Exchange Commission has once again pushed back the compliance deadlines for its controversial short-sale and stock lending disclosure rules, meaning hedge funds and other large investors have several more years before its requirements take effect, according to a report by Bloomberg.
Millennium Management suffered significant losses in its index rebalance strategy in November, according to a report by Business Insider, weighing on performance at the $81bn multi-strategy hedge fund. At one point during the month, teams led by senior portfolio managers Glen Scheinberg and Pratik Madhvani were reportedly down hundreds of millions of dollars, although some losses were recovered toward month-end.
UK hedge funds and financial firms are expressing concern after the government revived plans to reform non-compete clauses in employment contracts, raising the prospect of an outright ban or tighter time limits, according to a report by Bloomberg. Proposals published alongside last week’s budget seek industry feedback on whether post-employment restrictions should be capped at three or six months, or removed entirely.
Activist investor Barington Capital Group has built a position in Bill Holdings worth roughly $25m and is urging the business payments firm to explore strategic alternatives, including a potential sale, according to a report by Bloomberg.
