Einhorn’s Fund Climbed 36.6% Last Year, Recouping Losses That Began in 2015 (Bloomberg)
David Einhorn’s Greenlight Capital climbed 36.6% last year, finally recouping losses that his flagship fund had posted since 2015. The fund rose 3.5% gain in December, according to a person familiar with its performance. The gain helped send Greenlight above its high-water mark after it plunged 20.4% in 2015 and 34.3% in 2018.
US Hedge Fund Invests in Chilean Storage Plant (Renews.biz)
US hedge fund Hedonova has invested $16m in an energy storage plant in Chile’s Atacama region, 800 km north of the capital city, Santiago. The energy storage system, due to be operational by the end of this month, operates on the CRYOBattery technology. The technology uses air liquefaction technology where ambient air is cooled to -196°C. The energy storage plant Hedonova has invested in can supply electricity to around 80,000 to 100,000 homes in Chile.
OPIM Wins the Best Hedge Fund Platform of 2022 (PRNewswire.co.uk)
OP Investment Management (“OPIM”), Asia’s leading hedge fund platform, was voted the Best Hedge Fund Platform at the HFM Asian Services Awards 2022 on 30th November 2022. Year-on-year, the HFM Intelligence Asian Services Awards recognizes and rewards hedge fund service providers who have demonstrated exceptional client service, innovative product development, and strong and sustainable business growth over the past 12 months.
Other Voices: Top Hedge Fund Industry Trends for 2023 (Opalesque.com)
Here are Agecroft Partners’ 14th annual predictions for the biggest trends in the hedge fund industry for 2023. These predictions are based on dialogue with more than 2,000 institutional investors located globally and hundreds of hedge fund organizations. They are also predicated upon an economic forecast of continued rising interest rates for at least the 1st half of 2023 and a moderate recession. The hedge fund industry is dynamic and both managers and investors can benefit from anticipating, and preparing for, the changes likely to occur.
D.E. Shaw’s Biggest Hedge Funds Soared at Least 20% in 2022 (Bloomberg)
D.E. Shaw & Co.’s two biggest hedge funds posted returns of at least 20% last year, as volatile markets provided ample trading opportunities. The quant giant, which manages more than $60 billion, gained 24.7% in its flagship Composite fund, according to a person familiar with the matter. The fund is D.E Shaw’s largest and makes bets across various asset classes and geographies.
‘Big Short’ Investor Michael Burry Warns ‘Another Inflation Spike’ is Coming (New York Post)
Hedge fund wizard Michael Burry kicked off the new year with another dire prediction about the US economy, warning this week that a recession is already underway and another spike in inflation is likely in the near future. Burry, the CEO of Scion Asset Management who rose to national prominence after being featured in the 2015 film “The Big Short,” has repeatedly cautioned about lingering economic trouble over the last year as inflation soared and markets tanked. In his latest warning, Burry suggested that inflation, which has cooled in recent months, will surge again whenever the Federal Reserve decides to cut its benchmark interest rate. The next meeting is slated for Jan. 31.
