Hedge Funds’ Biggest Names — from Cohen to Dalio to Griffin — are Embracing Crypto. Here’s Where the Most Influential Managers Stand. (Business Insider)
Hedge funds like multi-strategy giants Millennium and Point72 are getting into crypto. The space, which was once dismissed by top managers, has become more accepted. There are still major holdouts, including Ken Griffin‘s Citadel. The hedge-fund world didn’t come running to cryptocurrencies. While some smaller funds embraced bitcoin and other digital currencies early on, the biggest names in the industry needed to warm up to the idea of investing in a completely new asset class.
Hedge-Fund Manager Greg Coffey is the Buyer of a $105 Million Hamptons Estate (The Wall Street Journal)
Australian hedge-fund manager Greg Coffey was the buyer behind a $105 million deal for the oceanfront Fordune estate in the Hamptons late last year, according to people familiar with the situation. The sale of the Southampton compound, built for auto mogul Henry Ford II around 1960, was one of the largest recorded transactions in Hamptons history, though the closing price was significantly shy of the property’s original asking price of $175 million. The estate was first listed for sale in 2017. The seller was Brenda Earl, a former partner at the private-equity firm Zweig-Dimenna.
Danske HFs Near Full Capacity (Hedge Nordic)
Stockholm (HedgeNordic) – Two Danske Bank fixed-income hedge funds are nearing maximum capacity and will thereby close to new money in late March. Danske Invest Hedge Fixed Income Relative Value Fund and Danske Invest Hedge Fixed Income Strategies Fund will close to new subscriptions or conversions in, except for their W classes that are solely available to a select group of clients in the context of a discretionary management agreement.
Phongphan/Shutterstock.com
Hedge Fund Billionaire Anthony Scaramucci Predicts Bitcoin Rally As Inflation and War Tensions Cool Down (The Daily Hodl)
SkyBridge Capital founder Anthony Scaramucci says that macroeconomic factors will become more accommodating to Bitcoin, allowing BTC to rally to six figures in the coming months. In an interview with MarketWatch, Scaramucci says that historic inflation rates in the US will become “way better” within a year. The hedge fund veteran also says that the current geopolitical tensions between Russia and Ukraine will have a limited impact on the global economy in the longer term, citing the flurry of sanctions against Russia from the West.
A $900 Million Hedge Fund Splits From Omni Partners to Go Solo (Bloomberg)
John Melsom, who managed money for Omni Partners for about 15 years, is striking out on his own to run an independent investment firm. The money manager has bought out Omni’s financial interest in the $900 million fund, which focuses on mergers and acquisitions opportunities, and is moving it plus his investment team to his London-based firm, Kryger Capital. The switch over is happening today.
