US Economy on Cusp of Stagflation, World’s Largest Hedge Fund Warns (Fox Business)
The world’s largest hedge fund is sounding the alarm over a possible return to 1970s-style “stagflation,” as the Federal Reserve moves to tame sky-high inflation. Bridgewater Associates co-Chief Investment Officer Bob Prince told Bloomberg TV this week that markets have not fully absorbed the shock of what’s happening in the economy and investors are too optimistic about the path for inflation and interest rates.
Hedge Fund Elliott Chases Oil and Gas Deals, Bucking Wall Street (Reuters)
May 25 (Reuters) – Energy bankers who lost one client after another when poor returns pushed many investment firms out of the U.S. oil patch got a welcome email earlier this year. Elliott Management, a hedge fund founded and co-led by billionaire Paul Singer and best known for its activist investing, wrote to the bankers in January inviting them to pitch opportunities to acquire U.S. oil and gas acreage, according to people familiar with the matter.
Hedge Fund Manager Alan Howard Explains Why He’s Investing Across the Entire Crypto Ecosystem (TheBlockCrypto.com)
British billionaire Alan Howard turned heads when he began investing in crypto startups in late 2020. But although it quickly became clear that the 58-year-old hedge fund heavyweight was dedicating a significant amount of time to the sector, few could have guessed quite how deep down the crypto rabbit hole he had gone.
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Angelo Gordon Raises $3.1b for the Second Credit Solutions Fund (Opalesque)
Angelo Gordon raised its second debt fund focusing on special situations and distressed companies. According to a press release from the $50 billion credit and real estate investment firm, AG Credit Solutions Fund II LP raised $3.1 billion of equity commitments, exceeding the Fund’s $3.0 billion target in seven months from the initial to a final close. The Fund received significant support from current Angelo Gordon clients and new institutional and retail investors globally. Ryan Mollett, Angelo Gordon’s Global Head of Distressed & Corporate Special Situations and portfolio manager of the Fund, said, “The strong support we received for our second fund is a validation of our solutions-based approach and commitment to using our capital, creativity, and scale to help companies address complex capital situations.”
Soros Warns ‘Civilization May Not Survive’ Putin’s War (Bloomberg)
Billionaire George Soros warned that Russia’s invasion of Ukraine has rattled Europe and could be the start of another world war. “Other issues that concern all of humanity — fighting pandemics and climate change, avoiding nuclear war, maintaining global institutions — have had to take a back seat to that struggle,” Soros, 91, said Tuesday at the World Economic Forum in Davos, Switzerland. “That’s why I say our civilization may not survive.”
Hedge Fund Boss Ken Griffin Says LME was ‘Incomprehensibly Wrong’ to Wipe $4bn in Nickel Trades (Financial News)
Kenneth Griffin, chief executive and founder of hedge fund Citadel, is the latest finance giant to criticise the London Metal Exchange after a March spike in nickel prices led the trading platform to cancel almost $4bn in trades. “That was one of the worst days in my professional career in terms of watching the behaviour of an exchange,” he said in an interview with Bloomberg on 19 May.
