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Intel
Warner Bros shares climbed sharply this week as event-driven hedge funds ramped up positions in anticipation of a bidding war between Paramount and Netflix, with merger arbitrage managers suggesting that at least one bidder is likely to raise its offer, according to a report by the Wall Street Journal.
Intel
Activist fund Ananym Capital – co-founded last year by veteran campaigners Charlie Penner and Alex Silver – has built a significant stake in Siemens Energy and is pressing the German group to separate its loss-making wind business, according to a report by the Financial Times.
Intel
Saba Capital’s flagship fund is on track for a disappointing year, with the $1.9bn vehicle down 6.5% year-to-date to 21 November, extending a multi-year period of weak performance for the credit-focused strategy, according to a report by the Financial Times.
Intel
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.
Intel
Two Sigma Investments has launched three new hedge funds this year and brought in more than $1.1bn in fresh capital, as investors remain largely unfazed by ongoing internal tensions between its billionaire founders, according to a report by Bloomberg. Assets under management have reportedly risen to a record level of more than $70bn, up from about $60bn in January.
Intel
Hedge fund Citadel has introduced an artificial intelligence–powered research tool to speed up analysis for its equities investors, according to a report by Reuters citing chief technology officer Umesh Subramanian.
Insight
The hedge fund industry’s narrative around democratised technology suggests smaller managers should now compete on equal footing with established giants. Allocators aren’t buying it, and their cheque-writing behaviour proves the point.
Intel
Balyasny Asset Management delivered a 2.5% gain in November, bringing year-to-date performance to 15.3%, according to a report by Reuters. The $31bn multi-strategy manager has been ahead of many of its competitors through the first 10 months of the year.
Intel
Citadel’s flagship Wellington fund returned 1.4% in November, bringing year-to-date performance to 8.3%, according to a report by Reuters citing people familiar with the matter.
Intel
Lauro Asset Management’s David Mercurio has criticised what he called “timid” leadership after Greggs’s shares fell 44% this year, valuing the company at £1.6bn, with almost 10% of the stock is now on loan to short sellers, according to a report by The Sunday Times. Lauro, previously backed by GIC, is one of Greggs’s largest shareholders, and City sources say its concerns mirror those of other long-term investors.
