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.
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Speaking at the Piper Sandler Global Exchanges & Brokerage Conference in New York, Novogratz said the Fed’s removal of stimulus led to a correction in the broader financial market, in turn triggering a collapse in crypto prices. As a result, a large number of crypto hedge funds could fail.
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More Stories on Hedge Funds
Short-Selling U.K. Hedge Fund Cashes In on Chaos
Marshall Wace’s LLP reported profits of £258 million. That’s a pretty nice payday for all of its 17 partners. The firm reported a turnover of £803 million at the end of February 2019. That figure is up sharply from the £ 647 million it had in 2018, according to The Guardian.
Former Hedge Fund Manager Tom Steyer Would Like to Be President
Tom Steyer, the energy-investing billionaire turned environmentalist “anti-billionaire,” hit the debate stage for the first time this week. The 62-year-old hedge fund manager turned activist has called for Donald Trump’s impeachment. He has also pledged $100 million of his own money for the Democratic nomination.
Capco’s Prime Brokerage Consulting To Support Prime Brokers
Capco announced its new Prime Brokerage Consulting offering to support prime brokers.
Capco is a global management and technology consultancy dedicated to financial services and energy industries. Its Prime Brokerage Consulting offering will guide prime brokers through regulatory change and data and digital transformation agendas. It will also assist on other projects such as vendor selection.
Research from Preqin Shows Funds Lost $34.4 Billion in Q3
Research from Preqin shows that the hedge fund industry lost $34.4 billion in the third quarter. This was the sixth-straight quarter that outflows outpaced inflows. That said, the strong performance across hedge fund strategies have bolstered AUM by 3.5% since the start of the year.
Japanese Government Wooing Hedge Funds Away from Hong Kong
The Hong Kong political crisis has certain hedge funds looking for an exit. A delegation from Tokyo’s financial industry has organized meetings to lure these funds to move to Japan.
Howard Marks: WeWork IPO Failure a Sign of Market Discipline
Oaktree Capital co-chairman Howard Marks said that failing tech IPOs in 2019 is a sign of investor discipline. The billionaire money manager discussed WeWork’s near-collapse and failed IPO with Reuters this week. WeWork had abandoned its planned Q3 IPO after the company released its S-1.
Hedge Fund Alden Global Capital Has Bought Another Stake in Tribune Publishing
Alden Global Capital now owns about one-third of Tribune Publishing, according to a new SEC filing. A week after buying a big stake from Michael Ferro, the hedge fund boosted its holdings to 32% of the company.
The Elizabeth Warren Hedge Fund Short Bet Has Been Placed
Elizabeth Warren and hedge funds go together like oil and water. Over the last month, big hedge fund names like Leon Cooperman and Steven Cohen have warned about the threat of Elizabeth Warren to the financial markets.
Hedge Fund Stone Milliner Asset Management Will Shutter
Macro hedge fund Stone Milliner Asset Management is closing its doors. The company announced it would return capital to investors in the face of weak performance and ongoing outflows.
Activist Hedge Fund Starboard Value Takes Stake in CVS Health
Starboard Value Buys a Stake in the Pharmacy Benefits Giant CVS Health has a new activist investor circling around it. The Wall Street Journal reported Monday that Starboard Value has purchased a stake in the pharmacy and health benefits giant. Reports indicate that Starboard has a small stake in CVS and that management has already discussed…
Ray Dalio Says He Isn’t Shorting the Market
Bridgewater Associates’ Ray Dalio said Friday that his hedge fund isn’t shorting the markets. In a Tweet, Dalio refuted a Wall Street Journal report about his firm’s position.
Sen. Charles Schumer to Watch Alden Global “Like a Hawk”
Chuck Schumer says he’s keeping a close eye on hedge fund Alden Global Capital. The Democratic Senator from New York has raised concerns about Alden’s recent stake in Tribune Publishing, a publisher of local newspapers. Alden recently purchased a 25.2% stake in the firm from Michael Ferro.
Greg Coffey’s Hedge Fund is Up 29%
Greg Coffey retired at the age of 41 after time at GLG Partners and Moore Capital Management and returned to Sydney, Australia. But six years later, he announced plans to start a new fund.
Ray Dalio Is Shorting the World
Hedge fund manager Ray Dalio is shoring the markets. The largest hedge fund in the world – Bridgewater Associates – has a $1.5 billion bet that the markets will fall by March. The Wall Street Journal reports that these wagers will pay if either the Euro Stoxx 500 or S&P 500 decline.
Preqin: Hedge Fund Performance Improved Again in October
Hedge fund performance remained strong in October. As investors cheered lower interest rates and progress on trade between the U.S. and China, hedge funds returned 1.06% for the month. That figure comes from the Preqin AllStrategies Hedge Fund benchmark. This figure followed an uptick of 0.4% in September.
Hedge Fund Firefly Demands Board Seat at Gulfport Energy
Firefly Value Partners is taking the activist approach with Gulfport Energy. The hedge fund has demanded a seat on the board of directors at the energy firm.
SS&C GlobeOp’s Forward Redemption Indicator was 4.81% for November 2019
The SS&C GlobeOp Hedge Fund Performance Index for November arrived today. Here is a recap from the group’s press release from November 21, 2019.
September Hedge Fund Redemptions Continue into Fourth Straight Month
Hedge fund redemptions continued for the fourth straight month in September. BarclayHedge says that investors’ redemptions hit net $14.7 billion in September. The figure comprised 0.5% of total hedge fund assets.
Louis Bacon to Shutter Hedge Fund Moore Capital
Louis Bacon will close his New York hedge fund Moore Capital and return money to investors. The Financial Times first reported the story on Thursday morning. The decision comes after three decades of tepid performance by the money managers’ hedge funds.
Broadridge Financial Solutions Buys ClearStructure Financial Technology
Broadridge Financial Solutions announced today that it has purchased ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets.
Prison For the Man Who Tried to Scam The Mooch
Premium Point Investments trader receives 40 months in prison for a mismarking scheme. Anthony Scaramucci has received justice from the firm that caused Skybridge Capital about a $79 million loss. Scaramucci’s fund of funds had sued Premium Point Investments on claims that the investment firm inflated the value of its hedge fund assets. Skybridge announced…
Alden Global Capital Buys Stake in Tribune Publishing
Alden Global Capital has purchased Michael Ferro’s 25.2% stake in Tribune Publishing. Ferro was the largest shareholder of the newspaper company. The deal priced the stake at 9 million shares at $13 each. That brings the value of Ferro’s stake to $117 million.
Icahn Capital, Berkshire Hathaway and the Battle Over Occidental
Icahn Capital and Berkshire Hathaway were among the asset managers to release 13Fs last week. While Warren Buffett boosted his stake over Occidental Petroleum, Carl Icahn faced a setback in his legal battle against the company.
ExodusPoint Will Reopen and Raise Another $2 Billion
ExodusPoint Capital Management will reopen its arms in 2020 to add a few billion to its AUM. The hedge fund was the industry’s largest in 2018 at $8 billion.