Hedge Funds

Hedge Funds

With global hedge fund assets at roughly $3.45 trillion (and growing by double-digit percentages each year), money managers have a greater influence on public and private markets than ever before. DailyAlts covers every element of the hedge fund industry – from changing performance structures to manager strategies, from regulatory oversight to activist holdings, and from new fund launches to the liquidation of underperformers. This channel is your one-stop-shop for daily news and insights for the influential and topical hedge fund space.

Top Story

Alternative Investments/ESG: On The Eve Of COP26, Hedge Funds Ambivalent On ESG (Survey)

October 28, 2021

The results of a poll of hedge fund managers conducted by Hedge Fund Research showed that 53% of them (687 managers) incorporated ESG factors and sustainability metrics into their investment processes. However, 47% (609 managers) said they did not do so. The results are significant, coming as they do ahead of the 2021 UN Climate Change Conference (COP26) in Glasgow this weekend.

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More Stories on Hedge Funds

Hedge Fund Q2 Moves: Third Point Buys IPO Stocks

August 13, 2019

Pershing Square, Third Point Cut Stakes in United Technologies SEC filings have revealed the latest hedge fund Q2 moves. Hedge fund Third Point has joined Pershing Square Capital by cutting its stake in United Technologies, according to the firm’s latest 13-F filings with the SEC. Dan Loeb’s shop sold 480,000 UTX shares and still holds…

Cloud Computing

Carl Icahn and Cloudera Strike Deal

August 12, 2019

Icahn gains two board seats, agrees not to boost stake above 20% in cloud computing firm Carl Icahn and Cloudera have reached a voting and standstill agreement. The cloud-computing firm has agreed to appoint Nicholas Graziano and Jesse Lynn to its board of directors. Both new board members are employees of Icahn Enterprises. Both board directors’ terms expire…

Goldman Taps Avinash Mehrotra to Lead Activist Defense

August 12, 2019

Avinash Mehrotra returns to the group he led after the departure of William Anderson in 2015. The Goldman Sachs activist defense team has a new leader after the departure of partner Steven Barg. Goldman has announced that Avinash Mehrotra would lead the company’s activist defense group. The firm released details in an internal memo, according…

Och-Ziff Changes Its Name to Something Worth Fewer Scrabble Points

August 12, 2019

Hedge fund chooses new name Sculptor Capital Management as an ongoing shakeup of Dan Och’s firm continues. The Och-Ziff name change is complete. The company has channeled its inner Stringer Bell. Following the departure of billionaire founder Dan Och, a bribery scandal in Africa, and a revolving door exodus of client money – Och-Ziff has…

The Death of Sears – We’re Well Past 1,000 Cuts

August 9, 2019

Eddie Lampert’s Transform Holdco will shutter another 26 shops as Sears’ demise accelerates. The death of Sears will continue at a slow, steady pace well into the fall. Next week, Transform Holdco, the company created by Sears Chairman Eddie Lampert to purchase the retailer’s assets out of bankruptcy, will start “liquidation sales” at locations it…

ESG Hedge Fund operated in Sweden

ESG Hedge Fund Falters in Sweden

August 9, 2019

The fund had only $2.46 million in assets one year into its operations Handelsbanken Fonder will shutter its ESG hedge fund Handelsbanken Hållbarhet Hedge on September 5, according to a letter to investors. Despite increasing demand around the globe for ESG strategies, the Swedish asset manager cited low client enthusiasm. Launched in February 2018, the…

Jeffrey Tarrant - In Memorium

Jeff Tarrant Passes Away at 63

August 9, 2019

The hedge fund pioneer made a legendary bet against Warren Buffett on activist traders Jeffrey Tarrant, the co-founder of Protégé Partners, has passed away at 63 after a battle with brain cancer. According to a statement from Protégé Partners, Tarrant died at his Bridgehampton home on August 5. Tarrant was a legendary seed investor, money…

BlueMountain Capital Sold to Assured Guaranty

August 9, 2019

Affiliated Managers Group sells its state to the Bermuda-based municipal bond and infrastructure insurer, for $91 million. BlueMountain Capital has struggled in 2019. At the end of June, its flagship Credit Alternatives fund ‘s performance showed a 4% loss. Affiliated Managers Group said it was working to bring the fund back to profitability. The fund…

Scaramucci: Trade War Holds Back Capital Expenditures

August 8, 2019

Anthony Scaramucci thanked President Trump Thursday for helping to bolster the alternative investment industry after the 2017 Jobs and Tax Cuts Act.  However, he then warned the White House that CEOs are holding back capital investment due to Trump’s erratic stance on global trade.  As a guest host on Squawk Box Thursday, the former White…

FINTRAC money laundering warning

Hoplite Capital to Shut Its Doors After 16 Years

August 8, 2019

The announcement came in a letter to shareholders after lackluster returns. John Lykouretzos will shutter Hoplite Capital and return capital to investors. The hedge fund manager addressed his decision in a letter to shareholders this week. “I have decided to close the Hoplite managed funds and return third-party capital as soon as possible,” he wrote….

Aecom-Canyon Partners

Managed Futures Funds: These Mega Bulls Could Trigger the Next Big Sell-Off

August 7, 2019

Here’s a toxic mix of factors that could trigger a self-sustaining downturn in already top-heavy markets. Trade war machinations, a bull run in stocks that is long in the tooth and a dithering Fed.
Add to this a group of hedge funds, known as managed futures funds, that have loaded to the gills with bullish bets on the market.
And these guys, $300 billion in size, are computer-driven.

Ray Dalio

Ray Dalio: Bet Both Sides of the Sino-U.S. Trade War

August 7, 2019

The Bridgewater founder told investors in an interview to bet on “both horses in the race” as global tensions heighten. Ray Dalio, the outspoken founder of Bridgewater Associates, told investors on Tuesday to invest in China as the country liberalizes its economy. Encouraging investors to bet on “both horses in the raise,” Dalio raised eyebrows…

Hedge Funds

Bill Ackman Ditches Stakes in United Technologies, ADP

August 7, 2019

Activist manager Bill Ackman walks away from two positions. Pershing Square Capital Management chief Bill Ackman is out of United Technologies (NYSE: UTX). The outspoken activist manager chose to drop his stake in the defense company instead of fighting the firm’s planned takeover of rival Raytheon Corp. (NYSE; RTN). The deal – expected to exceed…

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Alleged Hedge Fund Fraud Links Lewitt, Biden’s Brother

August 6, 2019

Two healthcare companies are suing a hedge fund manager and James Biden Accusations of hedge fund fraud are back in the headlines. A hedge fund manager and the brother of a Presidential candidate are accused of defrauding two medical companies in Tennesee. Last month, Azzam Medical Services and Diverse Medical Management filed a complaint with…

Hedge fund Fees: Element Capital Eyes 40%

August 1, 2019

Hedge fund star Jeffrey Talpins is bumping up the performance fee at his Element Capital hedge fund from the already pricey 25% to 40%. However, the fund will cut its management fee from 2.5% to 2%.

Equinox Energy Fund Implodes After Dismal Performance

July 28, 2019

Equinox Energy Fund closes after losing 85%
In a letter to investors, Equinox fund manager Sean Fieler attributes the losses to lousy stock picking and bear markets in E&P companies, Western Canadian energy prices, and small-cap energy companies.

Maarten Petermann to launch $500 million special situations fund

July 26, 2019

Petermann’s last-held position at JPM, that of European head of special situations, should be valuable experience when he runs his proposed Merlyn Advisors fund.
Merlyn is targeting $500 million in assets when it commences trading, with deployment across special situations such as M&A, spinoffs, and bankruptcies.

LSE snaps up Refinitiv for $27 billion

July 25, 2019

LSE shares surge higher on news of the deal; erstwhile Refinitiv owners will own 37% of LSE
The three-hundred-year-old London Stock Exchange Group made a massive bid to extend its reach into data by agreeing to buy Refinitiv, the global provider of data and tradi

7IM: Dramatic rise in demand for sustainable and ESG strategies

July 25, 2019

Seven Investment Management’s Sustainable Balance Fund notches up £100 million AUM
7IM’s Sustainable Balance Fund, which garnered AUM of £100 million by this week, invests in a portfolio structured around the environmental, social and governance (ESG) theme.

Hedge funds’ Investors are More ESG-Focused

July 24, 2019

A survey by BarclayHedge finds more than half of hedge fund assets next year will be invested keeping an eye on ESG factors
Environmental, social, and governance factors (ESG) will dominate hedge fund investing practices in the coming year, according to a survey of hedge fund managers and commodity trading advisors.

Point72 Asset Management Loses 20 Portfolio managers

July 23, 2019

Point72 Asset Management, once Steve Cohen’s family office, reopened to outside money in 2018. According to available information, Point72 employed about 1,400 people as of 2019.
A Wall Street Journal report said the firm has been having people problems, with about 20 portfolio managers leaving this year. Some of these departing employees had worked with Cohen for more than 10 years.

Some funds that jumped onto the ESG bandwagon, did so in name only

July 17, 2019

The gush of incoming money into ESG focused funds has prompted some funds to make cosmetic changes to qualify for the “ESG” tag
Funds focused on ESG (environmental, social and governance) factors received a record $5.5 billion in inflows from investors.

ESG funds see record inflows in H1 2019

July 16, 2019

Here’s some data for thought: In the first half of 2019, funds focused on environmental, social and governance (ESG) factors hoovered up $8.4 billion in inflows, according to data from Morningstar.
Note that in the whole of 2018, ESG inflows were $5.4 billion, itself a record.

Hedge funds’ surge in long positioning may presage a correction

July 16, 2019

Macro investing and commodity trading funds went long with a vengeance in March
According to Jason Goepfert, founder of Sundial Capital Research Inc., trend-following hedge funds swung from a 25% short positioning in March 2019 to over 50% long exposure.