How Bargain Hunter Howard Marks is Preparing to Pounce (AFR.com)
Famous Wall Street investor Howard Marks is preparing to go bargain hunting for the first time in more than a decade, as surging interest rates turn the market’s fear of missing out into a fear of losing money. Speaking after a week in which the Reserve Bank of Australia, the US Federal Reserve and the Bank of England raised official interest rates, the billionaire founder of Oaktree Capital Management said history suggested that central banks were unlikely to be able to engineer soft landings in their battle against inflation.
Hedge Fund Two Sigma’s Asia Boss Lauds Region’s New Talent Hub (eFinancialCareers)
Kenny Lam, the Asia-Pacific CEO of hedge fund Two Sigma, is not one of the people who are bearish on Hong Kong. Two Sigma has Asian offices in Tokyo, Hong Kong and Shanghai. In a recent interview with China Fund News, Lam waxed lyrical about the potential of the China and Hong Kong markets. He was particularly enthusiastic about their nine city megalopolis, the Greater Bay Area, but Lam was equally bullish on Hong Kong itself.
Tiger Global Halts New Chinese Equities Investments (The Wall Street Journal)
Longtime China investor Tiger Global Management has hit pause on investing in Chinese equities, said people familiar with the matter, as the firm reassesses its exposure to the world’s second-largest economy after President Xi Jinping cemented his control over the country. Tiger executives, including founder Charles “Chase” Coleman, have told others that Mr. Xi’s reelection and his stacking of the Communist Party’s leadership with loyalists at the recent party Congress could increase geopolitical tensions and means the country’s Zero-Covid policy will likely continue, the people said.
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Phil King Reaches for the Funds Management Crown (AFR.com)
Within the close-knit world of local funds management, there is always a story about Phil King, the founder of Regal Funds Management, whose firm has long been among the biggest commission payers in the market, thanks to his funds’ aggressive trading style. Introduced at the first Sohn Hearts & Minds conference as “the man with more connections than the NBN”, King plays it low-key and down-to-earth in person. He will chat to journalists as he walks his dog in the early evening, though it is talking about stocks not small talk that seems to light him up.
Magnetar Capital Partners with Tech Investor White Hat to Launch New Credit Fund (Hedge Week)
Technology investor White Hat Capital Partners (White Hat) has partnered with Magnetar Capital, a $13.2 billion multi-strategy alternative investment manager, to launch the White Hat Structured Opportunities fund (WHSO). The fund will provide flexible financing solutions to publicly-traded technology companies with market values up to $5 billion. WHSO will seek to provide structured investments of $50 million to $200 million in mission critical tech firms operating in high value markets.
