$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.
This Hedge Fund Manager Backs Bitcoin & Ethereum Prices to Keep Rising, with BTC20 Also Turning Heads (CryptoPotato)
Cryptocurrencies are showing remarkable resilience amidst a turbulent economic environment, evidenced by their decoupling from traditional asset classes. Dan Morehead, CEO of Pantera Capital, predicts this dynamic will allow major cryptos like Bitcoin and Ethereum to continue rallying over the medium term. Although these two cryptos remain the most talked-about in the space, investors are also paying attention to BTC20 – an innovative new token that combines elements of both Bitcoin and Ethereum and has just launched an eagerly-anticipated presale phase.
Ex-Citadel Duo Debut $1.85 Billion Hedge Fund (Bloomberg)
Former Citadel traders Jonas Diedrich and Dave Sutton have exceeded the capital raise target for their hedge fund, making it the biggest startup of the year. Katherine Burton has more on “Bloomberg Markets: The Close.” (Source: Bloomberg)
South Korea Challenges Hedge Fund’s Treaty Award (GlobalArbitrationReview)
South Korea has applied to set aside an investment treaty award that requires it to pay US$108 million to New York hedge fund Elliott Associates for intervening in an US$8 billion merger, as the award becomes publicly available.
Hedge Fund Management Tool Market Outlook (2023-2029)| Fund Count, Backstop Solutions, Meta Trader 5, Dynamo (Hometown-Pages.com)
MarketQuest.biz has published the obtainability of a new report to its repository titled as, Global Hedge Fund Management Tool Market. The report offers an in-depth evaluation of all happenings in the market. This report is crafted to assist every participant, including an amateur or a well-established player. The comprehensive report provides useful insights into market growth, revenue, and market trends, in order to enable readers to determine market scope more proficiently. The report also presents forecasts for market investments from 2023 till 2032. The market assists key competitors to understand the market and make strategic actions to propel their businesses. It also includes a number of key players that are involved in making planned moves to maintain their company positions within the global Hedge Fund Management Tool market. Furthermore, the report sheds light on recent developments and platforms.
Over $2M Bet On Calavo Growers? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Calavo Growers: The Trade: Calavo Growers, Inc. (CVGW) CEO Lecil E Cole acquired a total of 75,000 shares an average price of $30.34. To acquire these shares, it cost around $2.28 million. Ault Alliance: The Trade: Ault Alliance, Inc. (AULT) Executive Chairman Milton C. Ault III acquired a total of 9,510 shares at an average price of $15.49. To acquire these shares, it cost around $147,345.
Insider-Trading Horror Stories: The Covid-19 Files (Forbes)
The tentacles of the Covid-19 pandemic left no corner of American life untouched. Now they have even entered the annals of insider trading. Recent insider-trading charges brought by the Securities and Exchange Commission (SEC) and federal criminal prosecutors offer jolting lessons for all employees and executives who learn confidential corporate information and may then be tempted to trade the company’s stock. (Long story short, don’t.)
