Jain Global adds Balyasny senior trader to Hong Kong office
Hedge Week
by Nadya Oppenheim
6h ago
Bobby Jain’s new hedge fund, Jain Global, has added Joanne Lim, a former senior trader at Balyasny Asset Management, to its Hong Kong office, according to a report by Financial News.  Lim started at Balyasny in 2022 as a trader in Hong Kong, following roles at AB Bernstein, Société Générale and CITIC Securities amongst others, according to her LinkedIn profile.  Founded by Bobby Jain, former co-CIO at Millennium Management and managing director at Credit Suisse, Jain Global is set to launch on 1 July, having so far raised $5.3bn, Bloomberg reported. The hedge fund has been ..read more
Visit website
Activist investor Engine Capital builds stake in cider manufacturer C&C Group
Hedge Week
by Nadya Oppenheim
6h ago
Activist hedge fund firm Engine Capital has acquired a stake of just under 5% in C&C Group, the FTSE 250-listed manufacturer of Magners Irish Cider, according to a report by Bloomberg.  According to a Bloomberg source, the hedge fund believes C&C is currently undervalued and is urging the company’s board to undertake a strategic review process aimed at exploring a potential sale. Engine Capital views C&C as an attractive target for acquisition by either industry players or private equity firms.   Earlier this month, shares of C&C plummeted by as much as ..read more
Visit website
Global strategy consulting firm Stax opens London office
Hedge Week
by Nadya Oppenheim
6h ago
Global strategy consulting firm Stax has opened a new office in London, following the January hiring of Phil Dunne as managing director to lead the firm’s UK and EMEA practice.  Stax specialises in commercial due diligence, value creation and exit planning for private equity firms, PE-backed companies, hedge funds and investment banks, across software/technology, healthcare, business services, industrial, consumer/retail and education.  In a statement, Stax said it aims to double its headcount by 2025 and is hiring across levels with a focus on senior executives with healthcare ..read more
Visit website
Segantii Capital Management initiates capital return process amid wind-down
Hedge Week
by Nadya Oppenheim
6h ago
Segantii Capital Management has initiated the return of approximately one-third of its $4.7bn AUM to investors, following its decision to wind down operations amidst an insider dealing charge, according to a report by Bloomberg.  The capital return process commenced earlier this week, with plans for two additional installments. The next installment is expected in July, with the final repayment potentially concluding by October.  Hong Kong-based Segantii laid off numerous employees earlier this month, with operational staff, traders and investment professionals specialising in quantit ..read more
Visit website
Prime broker challengers targeting smaller hedge funds neglected by major banks
Hedge Week
by Nadya Oppenheim
6h ago
Prime broker challengers like Cantor Fitzgerald, Interactive Brokers and StoneX are gaining ground as they seek to attract smaller hedge funds that are often underserved by major banks, according to a report by Financial News. Goldman Sachs, JPMorgan and Morgan Stanley continue to dominate the prime broking market, each holding $1tn in client balances and generating billions in fees. However, the largest hedge funds consume most of their balance sheets, leaving room for non-bank prime brokers to capture market share among hedge funds with less than $1bn in AUM.  According to Hedge Fund Re ..read more
Visit website
Emerging markets hedge funds surge mid-2024, says HFR
Hedge Week
by Nadya Oppenheim
6h ago
Emerging markets hedge funds experienced accelerated gains through mid-2024, according to the latest data from Hedge Fund Research.  The HFRI Emerging Markets: Global Index, published by Hedge Fund Research, recorded a 6.8% increase year-to-date through May. This growth was primarily driven by the HFRI EM: Asia ex-Japan Index, which rose 5.1%, and the HFRI EM: India Index, which climbed 4.3%.   Total AUM for emerging markets and Asian hedge funds have surged, reaching approximately $250bn. The estimated capital invested in Asian hedge funds alone has nearly hit $133bn, marking t ..read more
Visit website
Hedge funds surge in May amid equity rally
Hedge Week
by Nadya Oppenheim
6h ago
Hedge funds saw notable gains in May, benefiting from a resurgence in global equity markets fuelled by historically low unemployment and stable or slowly declining inflation rates, according to PivotalPath’s Composite Index.  PivotalPath’s Composite Index, which tracks hedge fund performance, appreciated by 1.1% in May, bringing its year-to-date gain to 6.1%.  Over the past 12 months, the Index has generated positive alpha of 6.3% relative to the S&P 500, despite a dip in equity markets in April followed by a recovery in May.  Managed futures, global macro and credit st ..read more
Visit website
Boston Partners global long/short fund transfers to FundRock platform
Hedge Week
by Nadya Oppenheim
3d ago
Public equity investor Boston Partners has transitioned its Boston Partners Global Long/Short Fund to the FundRock trading platform as of 4 June, which will see the fund shift from a SICAV to an ICAV structure, according to a report by AlphaWeek.  Boston Partners will continue offering the fund in both institutional and retail share classes, while introducing a new early-bird share class (Class E) featuring a reduced investment management fee and no performance fee during a limited period.  The global long/short strategy is managed by portfolio managers Joshua Jones and Christopher H ..read more
Visit website
Electron Capital Partners fund rebounds from 2023 losses
Hedge Week
by Nadya Oppenheim
3d ago
Electron Capital Partners’ Global Fund is poised for its best performance in four years, rebounding from last year’s losses with a strong start in 2024, according to a report by Institutional Investor.  Under new leadership by Ran Zhou, the hedge fund has surged 16.03% year-to-date through May, including an 8% gain in May alone.  The fund strategically pivoted early in 2024 to mitigate volatility caused by the clean energy sector’s “hangover” effect from temporary 2023 headwinds, a shift that has helped Electron recover from a 9.8% loss in 2023 and exceed gains from 2021 and 2022.&nb ..read more
Visit website
Sona AM raises $800m for second capital solutions fund
Hedge Week
by Nadya Oppenheim
4d ago
Sona Asset Management, a London-based alternative asset manager investing across credit, has successfully raised $800m for its second capital solutions fund, targeting businesses struggling to secure financing amid a retreat by traditional banks, according to a report by Bloomberg.  According to an internal memo, the fund surpassed its initial $500m target and will be deployed across European credit markets, drawing existing and new investment from sovereign wealth funds, insurance companies, endowments and pension funds.  John Aylward, Sona’s founder and CIO, wrote: “Given the ever ..read more
Visit website

Follow Hedge Week on FeedSpot

Continue with Google
Continue with Apple
OR