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
European investors, both retail and institutional, are showing a growing interest in hedge funds and alternative investment options, as indicated by recent findings from Cerulli Associates. In the UK, Italy, and Switzerland, there’s a notable preference for semi-liquid funds for private market investments, with 50% of UK wealth managers favoring this approach.
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More Stories on Hedge Funds
Climate Change Protests in London: Activists Glue Themselves to BlackRock’s Doors
Climate change activists took on the world’s biggest financial institutions today, specifically BlackRock and the Bank of England, in London. They demanded the cessation of funding of a looming environmental crisis.
Martin Taylor and Hedge Fund Crake Asset Management Start Trading
Martin Taylor shut down Nevsky Capital three years ago. But he’s proven that top-performing managers – rare as they are – can stay away for too long. Taylor has returned to the markets with Crake Asset Management. The firm started trading last week after it raised $1.6 billion.
Hedge Elliott Management May Join Apollo Global Management to Save EP Energy Corp.
The EP Energy bankruptcy might have a pair of saviors. Apollo Global Management and Elliott Management have put together a rescue plan for the bankrupt firm. A deal would allow Apollo to keep control of the oil and gas developer.
Hedge Fund Manager David Tepper Lays Out Family Office Plan
David Tepper, the billionaire hedge fund manager, will soon return capital to investors as he shifts toward a family office. However, Tepper will continue to manage money for 15 lucky investors.
Hedge Fund Solel Partners Launches with $600 Million AUM
Solel Partners began trading this week with $600 million AUM. According to Bloomberg, former Highfields Capital Management partners Craig Peskin and Peter Fleiss are leading the fund.
AC Milan Back on the Block: Elliott Management
AC Milan, the Italian football giant, is back on the sales block. According to multiple reports, hedge fund Elliott Management may sell the club to French billionaire Bernard Arnault by the end of the year.
D. E. Shaw Targets Emerson Electric
Emerson Electric, the industrial conglomerate and Fortune 500 company, is in the cross-hairs of hedge fund D.E. Shaw.
Citadel Launches Zurich Office (And People on the Move)
Hedge fund Citadel is launching a new office in Zurich. The new space will host its marketing-arm, Citadel Securities, according to the firm. This division is one of the world’s top shops for high-frequency trading.
Richard Grossman: Preparing for Shareholder Activism On Your M&A Deal
Richard Grossman, a partner in Skadden’s M&A practice, has advice on tackling activist hedge funds during an M&A transaction.
eVestment: August 2019 Redemptions Top $6.5 Billion
August 2019 redemptions from hedge fund hit $6.51 billion for global hedge funds, according to eVestment’s newest asset flows report. The additional outflows drove the total withdraws from hedge funds to negative ($63.61) billion in 2019.
Elliott Management Tells Marathon Oil to “Split Into Three”
Paul Singer owned Elliott Management, an activist investor, sent a letter and presentation to Marathon Petroleum.
Elliott Management demanded of Marathon’s board that the company split into three separate businesses, thereby unlocking value worth $22 billion.
Activist Investors Push Out eBay CEO Devin Wenig
CEO cites disagreements with his board as activist pressures intensify Activist investors have pushed out CEO Devin Wenig. In a Tweet marked Wednesday, Wenig cited disagreements with fellow board members over the company’s future. “In the past few weeks it became clear that I was not on the same page as my new Board,” he…
Deutsche Bank will transfer prime broking and electronic equities to BNP Paribas
Deutsche Bank has agreed to migrate key clients, human resources, and technology in prime broking and electronic equities to BNP Paribas.
Deutsche Bank prime brokerage clients, primarily hedge funds, are unlikely to see any disruption from this arrangement. That’s because the two banks have agreed to provide “continuity of service” to these clients.
Some Hedge Funds and Airlines to Gain from Thomas Cook’s Collapse
Hedge funds that used credit default swaps to bet on Thomas Cook’s collapse will make a lot of money.
The 178-year old travel operator, Thomas Cook’s collapse, will lead to the loss of 21,000 jobs. Besides, more than 150,000 tourists are stranded across the world at vacation spots.
Elliott Management Bulking Up on Cash
Paul Singer’s Elliott Management, fearing a market meltdown, is raising fresh money from investors.
The activist investor could raise a war chest of $5 billion, according to an investor.
AT&T Considering Options for DirecTV Unit
AT&T may sell DirecTV, among other options, as consumers drop TV connections.
Telecom giant AT&T, which bought DirecTV for $49 billion in 2015, maybe considering a U-turn on the unit.
According to sources in the know, the satellite TV service is seeing a diminishing subscriber base. This trend is a result of consumers ‘cutting the cable cord.’
Sony Rejects Loeb’s Proposal to Spin Off the Semiconductor Business
Sony rejects Loeb’s proposal to spin off the semiconductor business.
President and CEO Kenichiro Yoshida wrote to shareholders today saying the company intended to retain the business
Backed by the full Sony board, Yoshida said in the letter that “retaining the semiconductor business is the best strategy for enhancing Sony’s corporate value over the long term.”
Stocks Propel Hedge Funds to the Best First Half in a Decade
The beleaguered hedge fund industry has something to cheer about. According to Hedge Fund Research, funds gained 5.7% during the six months ended June 2019.
For $5 Million, You Can Passively Invest in an Index of 500 hedge Funds
Aberdeen Standard Investments (ASI) and Hedge Fund Research Inc (HFR) are teaming up to launch an innovative new product.
It’s a fund that will track HFR’s 500 index. The index comprises the largest 500 funds that report to the HFR Database and offer quarterly liquidity or better.
Arrowgrass Capital Partners Will Shut Down
Blame the Fed, Blame the ECB, Blame All-Around Arrowgrass Capital Partners is shuttering its doors after 11 years. The hedge fund – founded by Deutsche Bank AG traders – blamed central banking policies around the globe for its closure. Investors have been rushing to redeem capital over the last two years. A letter viewed by…
Hedge fund Autonomy Capital Drops $1 Billion on Argentinian Wagers
Autonomy Capital lost that much in one month following political turmoil in Argentina
Last month we reported on the losses suffered by Brazilian hedge fund Newfoundland Capital Management in Argentinian stocks.
Turns out Autonomy Capital, the prominent macro fund founded by Robert Gibbins, was also singed.
Leon Cooperman: High odds of interest rates going up make private equity risky
The legendary hedge fund manager said declining interest rates had propped up returns in PE, but this could change
Cooperman was speaking at an event hosted by the New York Alternative Investment Roundtable. Initially calling private equity a scam, he later clarified his remarks. Though he was put off by the high fees and lengthy lock-ups, he said the industry wasn’t a scam.
What does Ken Griffin know about uber-luxe real estate that we don’t?
The billionaire, hedge fund manager, paid nearly $100 million for a Palm Beach property next to one he already owned
Ken Griffin is the US titleholder for owning the most expensive home in the country. He has a penchant for acquiring the most costly and luxurious properties in the priciest cities across the globe.