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Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.

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Hedge Funds: Four Portfolio Managers Leave Citadel

Volatility has shaken the markets. The Dow had its worst quarter in history. The U.S. economy could see GDP fall by 30% this quarter. And four portfolio managers at Citadel won’t be around to see what happens next.  Bloomberg reported that the hedge fund fired four portfolio managers last week. Chris Conner, Tio Charbaghi, Steve Bergman, and Chip Fortson are out, according to the report. The four all worked in Citadel’s Global Equities group. The timing coincided with the hiring of Justin Lubell, a Point72 alum, to take over that group.

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VC Giant Sequoia Capital Raises $3.4 Billion for U.S. and China Investments
December 10, 2019

Venture capital giant Sequoia Capital has raised $3.4 billion for two new investment funds. The first fund will invest in late-stage companies in the United States. The second will invest…

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Hedge Fund Asia Research & Capital Management Shorts Premier Oil
December 9, 2019

Premier Oil is the target of a massive short position. Asia Research & Capital Management (ARCM) has reportedly built a massive bet against the energy company.

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Magnetar Capital Aims to Launch $400 Million Health Fund
December 9, 2019

Magnetar Capital will launch its first healthcare hedge fund in 2020. The firm aims to close a $400 million fund by mid-2020, according to Bloomberg. The company will look to…

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Hacker Uses Ingenious MO to Siphon $1M from VC Firm
December 9, 2019

Security researchers at cybersecurity firm Check Point relate how Chinese hackers hijacked $1 million of seed money that was supposed to travel from a Chinese venture capital firm to an…

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Hedge Fund Billionaire Bill Ackman Looks for 50% Returns in 2019
December 9, 2019

Billionaire Bill Ackman and his hedge fund are having a great 2019. Last month, Ackman’s hedge fund added another gross return of 3.4% — or 3.2% after fees. This gain…

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Hedge Fund White Elm Capital to Shut Down Despite Big Gains
December 9, 2019

White Elm Capital is shutting down its hedge fund operations. Founder Matthew Iorio wrote a letter to investors Friday announcing the decision.

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Hedge Fund Elliott Pushes Saga To Jettison Care-giving Unit
December 9, 2019

It was a highly lopsided match anyway. In a peace offering to activist Elliott Advisors, Saga is putting its care business up for sale. Saga is reportedly working with accountants…

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Five Star Funds Launches Hedge Fund to Focus on Vegas, Baby
December 9, 2019

Five Star Funds announced it would create the Flamingo All Weather Fund, a new fund aimed to capitalize on favorable economic conditions in Las Vegas.

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Canadian Pensions Home in on Lucrative Indian Private Debt
December 9, 2019

A lending crisis has opened up profitable opportunities to lend to Indian performing companies. The Canada Pension Plan Investment Board (CPPIB) and the Ontario Teachers Pension Plan, may deploy up…

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SEC Blocks NYSE Bid for Direct Listings
December 9, 2019

What are direct listings? They are not allowed by the SEC at the New York Stock Exchange. Direct listings allow firms to engage in the public equity markets without selling…

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