Hedge Fund and Insider Trading News: D.E. Shaw, Millennium Management, Three Arrows Capital, Quest Partners, Darden Restaurants, Inc. (DRI), RE/MAX Holdings, Inc. (RMAX), and More

Dubai Is the Newest Hedge Fund Hotspot (Bloomberg)
After attracting crypto firms, property investors and Russian billionaires, Dubai is drawing a new crowd: hedge fund managers. Izzy Englander’s Millennium Management has grown its staff in the Dubai International Financial Centre to about 30 since securing a license in 2020. Michael Gelband‘s ExodusPoint Capital Management, one of the largest multi-strategy hedge funds in the world, registered in the DIFC in June, according to a filing.

DE Shaw, Execs Must Pay $52 Million to Ex-Money Manager, Arbitration Panel Says (Reuters)
NEW YORK (Reuters) -The prominent U.S. hedge fund DE Shaw and four senior executives must pay $52.1 million to a former top money manager who accused the firm of defamation, an arbitration panel ruled. Dan Michalow, 39, was terminated by DE Shaw in 2018, which at the time said his departure resulted from “gross violations of our standards and values.” But in a ruling issued on Wednesday, a Financial Industry Regulatory Authority (FINRA) arbitration panel found DE Shaw and the executives liable to Michalow for defamation, and found specifically that Michalow “did not commit sexual misconduct.”

Under-the-Radar Hedge Fund Altcoin Surges 130% in One Week, Defying Crypto Downtick (The Daily Hodl)
One low-cap hedge fund altcoin is skyrocketing by nearly 132% in the past week, vastly outperforming the crypto market. Numeraire (NMR) is the native token for Numerai, a San Francisco-based hedge fund built by a network of data scientists. The 204th-ranked crypto asset by market cap is trading for $21.39 at time of writing, up from $9.22 seven days ago. NMR still remains down more than 77% from its all-time high of $93.15, which it hit in May 2021.

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Hedge Fund Launches on the Up as Macro Leads Industry Through Inflation Volatility (Hedge Week)
New hedge fund launches have jumped to the highest level since Q1 2021 and reached the second highest quarter since Q4 2017 as the HFRI 500 Macro Index surged through global inflation-induced financial market volatility, according to the latest HFR Market Microstructure Report. New hedge fund launches increased to 185 in Q1 2022, jumping from 113 in Q4 2021, representing the highest launch rate since 189 new funds launched in Q1 of last year, and the second-highest quarter since 190 funds launched in Q4 2017.

Hedge Fund Adviser Patrick Ghali on Crypto, ESG and Why Clients are Dumping ‘Any Exposure to China’ (FNLondon.com)
Patrick Ghali, co-founder of hedge fund advisory Sussex Partners, talks with Financial News about how his clients are adapting to this year’s sharp downturn in markets and how they’re positioning for a recession, a crypto winter and sustainable investing. His comments have been edited for clarity. What are clients saying about the macro environment right now?