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.
CEO Nir Bar Dea is now at the helm of Bridgewater. Bridgewater Associates, the world’s largest hedge fund, is adopting a new strategy under the leadership of CEO Nir Bar Dea, following its founder Ray Dalio’s departure five months ago. Bar Dea’s strategy aims to improve returns, increase profitability, and develop new sources of revenue….
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Hedge Funds: Lone Pine Hits the Jackpot
200% Gain on Afterpay Investment. United States-based hedge fund Lone Pine Capital has hit a $56 million jackpot in profits on Afterpay. This firm made returns of over 200 percent on a $27 million investment in Afterpay shares. Its total proceeds exceeded $80 million in just a few months. Its investments were scattered across four…
Sender’s Hedge Fund Sees Sharp Gains Amid Unprecedented Robinhood Stock Trading
Sender Company & Partners Up 30% YTD. Hedge fund Sender Company & Partners has seen a 30 percent net gain in 2020 following a series of bets on stocks that are popular on the Robinhood trading platform. Hertz, Tesla and Nio were among those driving skyrocketing returns. Sender is among a group of institutional investors…
Hedge Funds: Bitcoin In Play as Funds Dive Back In
Crypto Hedge Funds Move In On Bitcoin. Bitcoin fell by 50 percent in cryptocurrency’s price in March, but subsequently rose back up to trade at $11,200. Investors should caution as this trend could lead to another major slump — most notably like the 2017 80 percent Bitcoin slump. Especially with the uncertainty of COVID-19, investors…
Hedge Funds: Boaz Weinstein’s Saba Capital Up 90%
Saba Projects Continuing Gains Hedge fund industry observers are buzzing of Saba Capital Management’s purported sharp gains, in addition to the firm’s projections of seeing additional returns of this caliber in the months ahead. Boaz Weinstein, founder of Saba, shares that “Markets are at an unstable place right now. I look out at the next…
Hedge Funds Meet Real Estate: A Texas Case Study
Hayman Capital in Focus. Hedge fund investor Kyle Bass recently bought, among other real estate, the downtown Dallas Statler hotel. He purchased a 50 percent stake in four real estate properties and a minority stake in the Statler hotel. In addition to the Statler, he purchased a stake in the Entrada development and the Central…
Hedge Funds Bullish on Electric Vehicle Sector
EV Attracts Hedge Fund Attention. Formidable Asset Management is among the many hedge funds keeping a close eye on the electric vehicle market. Following its gains from a bet on Workhorse Group, the fund is looking to invest in Nano One Materials Corp. The company cites its implementation of durable nano crystals as a transformative…
Hedge Fund Industry Loses Early Torchbearer Arthur Samberg
Pequot Founder’s Legacy. Arthur Samberg, founder of Connecticut-based Pequot Capital Management, at one time one of the world’s leading funds, passed earlier this month after suffering from leukemia. Samberg led a long career in finance, and was moved into the spotlight following Pequot’s founding back in 1999. The firm was successful in its early days,…
Hedge Fund MingShi + AI = $1 Billion Blockbuster
Chinese AI-Powered Hedge Fund Nears $1 Billion Shanghai-based hedge fund MingShi Investment Management implements artificial intelligence as its main strategy for making investments. The firm has already raised $600 million in the last four months and is moving quickly at secure another $400 million in the coming days. According to MingShi partner Stepham Zhou, “China…
Liquid Alternatives Showing Their Strength Amid 2020’s Volatility
Wilshire Liquid Alternative Index Up in June. The Wilshire Liquid Alternative Index was up nearly 1% in June, continuing to show strength in navigating this year’s wild market ride. The Index is a benchmark for the performance of Liquid Alternative Funds. Longtime Wilshire Associates veteran, Jason Schwarz, said that “Markets rallied in the second quarter…
Hedge Fund Axonic Capital to Raise $1 billion for Credit Deals
Credit Funds on the Rise Following a credit sell-off in March, Axonic Capital is looking to make a comeback through raising nearly $1 billion. Investors are looking to capitalize on undervalued assets with this fund. The firm was a key player in the 2008 financial crisis through its role with mortgaged-backed securities. With its nascent…
Hedge Funds: Chatham Asset Management Wins Bid for McClatchy Newspapers
One of the nation’s leading news publishers, the McClatchy Company, will be purchased by Chatham Asset Management. This is following many years of revenue decline for the publishing company. The McClatchy Company has had 163 successful years of family ownership. It will now be sold in a bankruptcy auction to the New Jersey-based hedge fund….
Despite Turbulence, Hedge Funds Achieve Q2 Gains
Hedge Funds Up Amid Volatile Markets. Hedge funds were up nearly two percent in the month of June. This means that the industry faced its third monthly gain in a row. Although the industry aggregate — as measured by the HFRI Fund Weighted Composite Index — is still down, hedge funds are doing well considering…
Hedge Funds: London-Based Hedge Fund to Retreat Following Losses
Sloane Robinson, a London-based Hedge Fund co-founded by George Robinson, is set to close by the end of this year. This decision was based primarily on a decline in the firm’s assets under management. The firm was also lacking in performance which was mainly due to volatile markets resulting from Covid-19. Sloane Robinson’s Global Frontier…
Hedge Funds: Paulson Calls it Quits
John Paulson — hedge fund manager of Paulson and Co. — is officially closing his office to public clients. Paulson and Co. will exclusively function as a family office. Paulson wrote in a letter that he will be returning all investments to clients after closing. John Paulson is known for predicting the housing crisis and…
Hedge Funds: Dalton Cautions on Korea’s $100 Billion Bio Stocks
For those investors lucky enough to have invested in South Korea’s health care sector, now may be the time to assess the risks, says Dalton Investments, a $3 billion California-based hedge fund. Retail investors who have invested in South Korea’s health care sector risk over-valuing the market. The Covid-19 pandemic is one of the primary…
Hedge Funds: A Reminder, Bill Ackman is Doing Fine
Bill Ackman is doing well in 2020.
In the wake of the COVID-19 pandemic, Pershing Square Capital Management has returned 22% to 27% this year. That easily tops the S&P 500. It has been quite a run for Ackman, whose fund made more than $2 billion while hedging on a downturn at the start of the outbreak. Ackman famously warned that “hell is coming” when urging President Donald Trump to shut down the U.S. economy for 30 days.
Digital Assets: Crypto Hedge Funds Doubled Assets under Management in 2019 (Report)
PwC and Elwood Asset Management Services used data from the largest global crypto hedge funds to compile the report.
Assets under management (AUM) at cryptocurrency hedge funds doubled from $1 billion in 2018 to $2 billion in 2019, while average assets under management expanded from $21.9 million to $44 million, said the report. Median AuM increased from US$4.3 million to US$8.2 million.
Hedge Funds: MHR Fund Management Files 13D on Loral Communications
The filing came after the announcement by Loral that it was in advanced discussions with Canadian Telesat co‑owner, Public Sector Pension Investment Board, regarding the combination of Loral and Telesat into one public company. As a result of the discussions, Loral felt it was in the best interest of shareholders to return a significant portion of the $243 million of cash that has on the books.
Hedge Fund: Teleios Presses for Changes to Maisons du Monde Board
Activist fund Teleios Capital Partners is pressing for changes on the board of Maisons du Monde.
The fund said it plans to push to appoint two independent board directors to the French furniture company. The hedge fund currently holds a 19.9% stake in the company, according to a statement released on Thursday.
Hedge Funds: The Einhorn-Musk Battle Takes a New Turn on Twitter
We might not have live sports right now. But we do have the constant jarring back and forth between Greenlight Capital and Tesla Inc. The former’s founder David Einhorn is one of the most prominent hedge fund managers shorting Elon Musk’s company. On Thursday – the day after Tesla’s earnings report – Einhorn questioned the financials of the electric vehicle manufacturer. Specifically, he wanted more information about the firm’s accounts receivable, costs, stalled factories, and the effects of international currency shifts.
Hedge Funds: Bill Ackman Calls on U.S. Government to “Be Like Buffett”
Pershing Square Capital founder Bill Ackman encouraged the U.S. government to approach bailouts the same way that Warren Buffett would. On a podcast, Ackman said that emulating the Oracle of Omaha would ensure that the government received favorable terms for taxpayer capital.
Hedge Funds: The Activist Leaves the Building
Frank Tuil is departing Elliott Management more two decades at the firm. The legendary French investor helped Elliott position itself as a top activist shop across Europe from the firm’s London office. Investors cheered him and investors feared him. Some of his most notable activist campaigns included efforts at French spirits maker Pernod Richard and…
Hedge Funds: Medallian Posts 39% Gain in 2020
The Medallion Fund, the flagship vehicle of Jim Simons’ Renaissance Technologies, has scored a 39% gain through April 14, 2020. According to the Wall Street Journal, the fund gained roughly 10% in March. That gain was quite an outlier at a time that 75% of hedge funds reported losses due to the COVID-19 selloff.
Hedge Funds: Quintessential Capital Takes Short Position in Akazooactivist hedge fund Quintessential Capital Management.
Activist hedge fund Quintessential Capital Management is shorting music streaming company Akazoo (NASDAQ: SONG). The news sent shares of SONG down more than 22% on Monday.