$13 Billion Hedge Fund Schonfeld Loses Several Senior Technology and Recruiting Personnel (Business Insider)
Several leaders of multi-strategy hedge fund Schonfeld Strategic Advisors‘ technology and recruiting operations have exited the firm, according to people familiar with the matter. One of the most recent departures is Vincent Aniello, who joined the firm in 2017 and served as global head of infrastructure, the people said. Steve Kordik, who headed up a team in North America responsible for supporting the trading technology platform, left in May.
Davidson Kempner raises $3bn for Opportunities Fund VI (Hedge Week)
Davidson Kempner Capital Management has closed its Davidson Kempner Opportunities Fund VI, which will target investments in less liquid, longer-duration situations arising from capital dislocations, motivated sellers, and substantial asset or structural complexity, with $3bn in capital commitments. The five previous vintages of the fund have collectively invested over $10bn since the strategy’s inception in 2011. The funds are diversified across geographies, industries and investment types, including corporates, real estate, structured products, infrastructure and hard assets.
Hedge Fund SPX Offers Mea Culpa to Clients for Poor Brazil Bets (Bloomberg)
Brazilian hedge-fund behemoth SPX Capital apologized to holders of one of its funds after a badly timed bet on its home country eroded returns. The money manager’s Raptor fund — a more aggressive version of its flagship Nimitz offering — lagged all 173 rivals tracked by Bloomberg in the first half of the year, slumping 9.7% after fees. June was particularly painful as the fund posted its second-biggest monthly drop on record.
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Hedge Fund Manager Doug Kass Predicted This Year’s Rally: Here’s What He Thinks About the Rest of 2023 (The Street)
Hedge fund manager Doug Kass has built a reputation for calling it as he sees it, even when he knows what he says will shake things up. For example, in his annual predictions, Kass nailed the stock market rally in the first half of 2023 when he called for a 10% rally through June. The self-described contrarian with a calculator recently updated his thoughts, explaining what he thinks could be next for stocks. It may not be something that many want to hear.
Short-Term and Mean Reverting Flavour Lift Epoque (Hedge Nordic)
Stockholm (HedgeNordic) – Managed futures and trend-following funds, known for their quantitative techniques in capturing price trends, delivered strong returns last year. However, conditions for trend followers in 2023 have proven to be considerably more challenging. Amid a difficult first half for the universe, some recently launched – yet experienced – trend-followers from the Nordics, such as Epoque of Martin Redgård, have managed to perform well. Epoque employs a short-term-focused approach to capitalize on momentum, price action, and breached significant price levels across G20 currencies and major stock market indices. The trend-following fund returned 6.8 percent in the first half of 2023.
