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.

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Alternative Investments/Hedge Funds: Inflation Fears Boost Hedge Funds’ AUM To Nearly $4T

July 23, 2021

A market survey by alternatives technology provider Vidrio Financial shows that fears of inflation have helped move substantial fund allocations during the first half of 2021 to alternative assets such as private equity and hedge funds. Market sentiment has tended to favor these asset classes during inflationary periods in the economy. Total hedge fund assets burgeoned to nearly $4 trillion by the end of the period, according to HedgeWeek.

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More Stories on Hedge Funds

BlackRock Hires

Citadel Launches Zurich Office (And People on the Move)

September 27, 2019

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

September 26, 2019

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

September 26, 2019

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.

September 26, 2019

Jason Mudrick, manager of Mudrick Capital Management, has been one of the top industry performers in 2019. Now, he’s under pressure due to e-cigarettes.

Elliott Management Tells Marathon Oil to “Split Into Three”

September 25, 2019

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

September 25, 2019

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

September 24, 2019

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

September 23, 2019

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

September 22, 2019

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

September 19, 2019

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

September 17, 2019

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

September 16, 2019

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

September 16, 2019

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

September 14, 2019

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

September 12, 2019

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

September 12, 2019

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?

September 12, 2019

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.

AT&T Gets Heat from Billionaire Activist

September 12, 2019

Hedge Fund Elliott Management writes to ATT on how to “realize a historic increase in value” for its shareholders
Billionaire Paul Singer owns Elliott Management. It revealed in its letter yesterday to telecom conglomerate AT&T that it owned $3.2 billion of the latter’s stock. Elliott’s open letter claimed that AT&T could boost its share price to $60+ by 2021 through “readily achievable initiatives.”

FCA-Approved Crypto-Arbitrage Fund Raises $50 Million

September 10, 2019

Nickel Asset Management, a London-based hedge fund, has officially launched a cryptocurrency-focused ‘Nickel Arbitrage Fund.’
The new fund has raised $50 million within two months and won rare approval from UK regulators.

Roivant, the Hedge Fund Specializing in Drug Castoffs, Signs $3 Billion Deal

September 9, 2019

Japanese drugmaker Sumitomo Dainippon Pharma will buy a stake of just over 10% in Roivant Sciences
Former hedge fund manager Vivek Ramaswamy founded Roivant Sciences, a Swiss holding company. Roivant builds “Vants” – biotech and healthcare companies that license, or own, development drugs sidelined by Big Pharma companies.
Roivant currently owns a central technology-enabled platform and 20 Vants with over 45 investigational medicines under development.

Protos Hedge Fund

Now trade the world’s 1st tokenized hedge fund – 24/7

September 9, 2019

Protos, the world’s first tokenized hedge fund, opened to public investors this month
Crypto investors can now trade the Protos hedge fund tokens on the OpenFinance Network (OFN). OFN is an SEC-registered Alternative Trading System (ATS).

Activist hedge fund accuses condom-maker of inflating financials

September 9, 2019

Ben Axler of Spruce Point says Church & Dwight rigged numbers to jack up compensation bonuses
Church & Dwight is the listed maker of Trojan condoms, sex toys, hair growth, and rectal creams. It also sells baking soda and products relating to laundry, cat litter, oral and personal care.

ESMA Hikes Frequency of Liquidity Stress Tests on European funds

September 3, 2019

European funds such as UCITs, AIFs, and ETFs must conduct quarterly liquidity stress tests, according to the European Securities and Markets Authority (ESMA)
The funds must implement these tests from September 2020.

Preqin Report: Five Straight Quarters of Hedge Fund Outflows

August 30, 2019

New report shows net outflows yet again in Q2 A Preqin report tracking hedge fund outflows showed more bad news for firms. For the fifth-straight quarter, net outflows hit managers. Preqin says that funds saw $25.3 billion exit hedge fund shops in Q2 2019. This is according to the Q2 2019 Hedge Fund Asset Flows factsheet….