Hedge Fund Irenic Asks Capricorn Energy to Ditch NewMed Deal (Reuters)
Irenic Capital Management, a hedge fund that owns a 1.5% stake in Capricorn Energy Plc (CNE.L), asked the natural gas producer on Wednesday to abandon its sale to Israel’s NewMed Energy LP (NWMDp.TA) in favor of selling its assets piecemeal. Irenic’s intervention challenges a deal that would create a London and Tel Aviv-listed gas giant, at a time when European countries are looking for such companies to help with a supply crunch caused by Russia’s invasion of Ukraine.
Cathie Wood Became an Accidental Celebrity Investor. Now She Needs to Prove Her Critics Wrong. (Observer.com)
Cathie Wood, the founder and chief investment officer of asset management firm Ark Invest, never expected to be at the center of the spotlight like she has been in the past two years. “[Our firm] did have a social strategy, but I was hoping to make the young people – analysts, portfolio managers, advisors – famous, not myself,” she told the Observer at an event in New York City Oct. 17.
A $14 Billion NYC-based Hedge Fund is Trying a Different Approach to Getting People into the Office — Opening a Suburban Hub Where Its Traders and Managers Live (Business Insider)
$14 billion Schonfeld Strategic Advisors is taking a different route from other Wall Street firms to get their employees into the office and to attract talent in the long run. Schonfeld has opened a new office in Summit, New Jersey – not the typical satellite office location for a firm that’s positioning itself to be a multi-manager rivaling giants like Citadel and Millennium. The family-office-turned-hedge fund has been on a growth tear since Ryan Tolkin took over as chief executive at the beginning of 2021. In the last year, the firm has added roughly 250 employees, including 20 new investment teams across its strategies.
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Trio of Hedge-Fund Veterans Eye $1 Billion for New Multistrategy Firm (The Wall Street Journal)
As an era of cheap money ends, one new investment firm spies opportunity. Palekana, named after the Hawaiian word for “safe,” will launch in December with the backing of William Reeves, the co-founder of BlueCrest Capital Management, which was once one of Europe’s biggest hedge-fund managers. He will be joined by Gerard Griffin, founder of Tisbury Capital Management, a $2.8 billion event-driven manager, and Jonathan Martin, who worked at BlueCrest and then ran Markham Rae, a $1.25 billion multi-strategy manager.
The 3 Keys to the Success of Bridgewater, the Largest Hedge Fund Founded by Ray Dalio in 1975. (DataDrivenInvestor.com)
The trader who won is the last one sitting at the poker table when everyone else has gone broke. After forty-seven years at the helm of Bridgewater, Ray Dalio, 73, has seen many of his competitors go under. He has been through many market and internal crises, but none of them have been fatal. He has survived in an ultra-competitive sector where the life expectancy of hedge funds is only a few years.
