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Insight
Funds-of-funds remain the investor type most likely to negotiate side letters with hedge fund managers according to the latest Hedge Fund Side Letter study from Seward & Kissel, accounting for over half (51%) of all such arrangements agreed in the period from 1 July 2021 to the end of July 2022, but down slightly from the 54% seen 12 months ago.
Intel
Macro hedge fund LHG Capital Management has closed its newly structured closed-ended flagship fund, LHG Premium Investments Fund, at €450 million, 50% higher than the original €300 million target.
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Investors have been showing a growing interest in macro strategies, given their performance potential within the broader challenging macroeconomic environment. Within this context, emerging macro funds have the capacity to grow, as investors hunger for pure macro allocations at a reasonable cost.
Awards
The winers of the annual Hedgeweek US Awards, which recognise excellence among fund managers and service providers in the US across a wide range of categories, have been announced.
Intel
Boaz Weinstein, boss of New York-based hedge fund Saba Capital, is “very pessimistic” about the current investment climate and believes global stocks could be heading for a decades-long, Japan-style bear market, according to a report by The Financial Times.
Insight
More than 40% of hedge fund managers expect LPs to increase investment allocations to long/short and global strategies in the next 12 months, research from EisnerAmper suggests.
Intel
Bridgewater Associates has appointed former Goldman Sachs managing director and global head of loans engineering Yuriy Podoshev as its new engineering director, according to a report by Financial News London.
The appointment of Podoshev, who spent 16 years at Goldman Sachs, adds to a growing exodus of banking talent to hedge fund firms.
Podoshev served in a wide range of roles during his time at Goldman Sachs including senior developer and the global head of money markets trading and sales technology. Prior to Goldman Sachs he spent over eight years at RMS working as a senior software engineer.
In his
Intel
Despite tough market conditions leading to job cuts in some sectors of the financial services industry, UK hedge funds are still on the lookout for top talent, according to a report by Financial News London. And the they’re spreading the recruitment net wide with ‘shopping’ lists that include everyone from technology graduates to portfolio managers.
Intel
BirchLane Capital, a London-based hedge fund set up by former JPMorgan credit trader Fajr Bouguettaya, is returning all capital to investors just two years after commencing operations, according to a report by Bloomberg.
Intel
As a result of the volatility and positioning for generational inflation and increased likelihood of an economic recession, institutional investors withdrew an estimated $26.0 billion from hedge funds in Q3 2022, according to the latest HFR Global Hedge Fund Industry Report.
