Macro Hedge Fund LHG Capital’s AUM Surpasses US$750M After Record Inflow (EinNews.com)
LHG Capital Management, a hedge fund firm focused on global macro investment strategies, received over US$600 million in net inflows in 2022. The firm’s total assets under management surpassed US$750 million in August 2022, making it one of the largest hedge funds dedicated exclusively to global macro investing in the Asia-Pacific region.
Former Hedge Fund Manager Alleges He Lost $450,000 in Crypto from a Porn Virus (Finbold)
Former hedge fund manager Martin Shkreli has claimed that the massive crash of his cryptocurrency dubbed Martin Shkreli Inu (MSI) was due to a hack that emanated from an attempt to download a pornography file. This comes after the token plunged by over 90% following a dump from a crypto wallet linked to Shkreli. The wallet offloaded its holdings for 239 ETH, approximately $450,000. Interestingly, the dump occurred after the token had attained a weekly high.
GoldenTree Closes $390m CLO Under GLM Strategy (Hedge Week)
GoldenTree Loan Management II (GLM II) and its affiliated investment manager GoldenTree Asset Management LP, has closed a $390 million collateralised loan obligation GoldenTree Loan Management US CLO 15 (GLM US CLO 15) to be managed by GLM II. With the closing of this CLO, GoldenTree has issued 20 CLOs totalling over $11.5 billion under its GLM CLO strategy. Since its inception in January 2017, the GLM strategy was intended to be compliant with applicable Risk Retention regulations. While a US Court of Appeals ruling on 9 February, 2018 led to the repeal of US risk retention rules for open market CLOs, GLM CLOs are intended to continue to comply with European Union and United Kingdom Risk Retention regulations.
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Tiger Global Slashes Tech Holdings After Huge Losses (Guru Focus)
One of the most interesting 13F updates to be published this week comes from Tiger Global. For readers who don’t keep an eye on the hedge fund world, this firm has been one of the biggest winners of the decade-long technology revolution that has played out over the past 10 years. Founded by Chase Coleman around the turn of the millennium, Tiger Global was able to capitalize on depressed technology sector valuations after the dot-com bubble burst. By getting in early, the hedge fund manager was able to learn the ins and outs of the industry and then take high conviction bets on the most promising technology giants after the financial crisis. This strategy helped Tiger Global build a track record as one of the most profitable hedge funds in history by the end of 2020.
This $3.8 Billion Hedge Fund is Shaking Up the Industry with Its Pay-for-Performance Model (CNBC)
When Peter Kraus founded Aperture Investors, he deviated from the traditional active management model. Rather than raking in fixed fees, Kraus’ $3.8 billion firm operates on a fee structure linked to performance, charging 30 percent of alpha. That’s higher than the industry standard but since inception, about half of Aperture’s funds have delivered alpha above their benchmarks. Kraus sat down with CNBC’s Delivering Alpha newsletter to explain why he’s focused on a pay-for-performance set-up and how he’s putting capital to work in the current environment.
