Brevan Howard Asset Management has agreed to sell a minority stake to Abu Dhabi-based Lunate, alongside a $2bn capital commitment to a new investment platform in the emirate’s ADGM free-zone, according to a report by Bloomberg.

An affiliate of Elliott Investment Management has emerged as the frontrunner in the high-stakes auction of Citgo Petroleum’s parent company, PDV Holding, after submitting an improved offer that now tops a rival $7.4bn bid from Gold Reserve’s Dalinar Energy, according to a report by Reuters.

Hedge funds, including Marshall Wace and Millennium, are stepping up bearish wagers against Europe’s automotive sector, as carmakers and suppliers face mounting pressure from US trade tariffs and intensifying competition from Chinese rivals, according to a report by the Financial Times.

Medtronic plc has announced key board appointments and governance initiatives designed to advance strategic priorities and enhance shareholder value, following “constructive engagement” with activist hedge fund firm Elliott Management.

The world’s largest hedge funds, including Bridgewater Associates and Tiger Global Management, sharply increased their exposure to Big Tech in Q2, reversing earlier caution and doubling down on the AI-driven market rally, 13F filings show, according to a report by Reuters.

Goldman Sachs is giving wealthy investors the chance to buy into Izzy Englander’s Millennium Management, one of the world’s largest hedge fund managers, with financial commitments of between $1m and $20m, according to a report by Bloomberg.

An affiliate of hedge fund Elliott Investment Management has increased its bid for PDV Holding, the US parent of Venezuela-owned refiner Citgo Petroleum, to $8.82bn amid a heated court-supervised auction in Delaware, according to a report by Reuters.