John Paulson Seeks to Shut Down Wife’s Suit Alleging Hidden Billions (Bloomberg)
John Paulson is seeking to shut down his wife Jenica’s lawsuit accusing him of shielding billions of dollars in assets from their divorce, claiming she’s the one who’s engaged in a “selfish money grab.” Lawyers for Paulson, 66, will appear in court Thursday to urge a New York judge to dismiss his wife’s suit. In court filings, they say that Jenica Paulson knew all along about trusts she claims he used to hide assets because they were included in nearly two decades of joint tax returns that she signed.
Audacious BlackRock Challenge is Bluebell’s David vs Goliath Playbook (Reuters)
Bluebell Capital Partners’ attempt to oust BlackRock Inc (BLK.N) CEO Larry Fink represents the small activist hedge fund’s boldest bet that its punch-above-weight strategy could deliver a financial win, even if its push for changes faces long odds. In the three years since its launch, Bluebell has challenged the policies and executives of some of the world’s biggest companies, including GSK Plc (GSK.L), Glencore Plc (GLEN.L), Vivendi SE (VIV.PA) and Danone SA (DANO.PA), while owning very small stakes.
Hedge Fund Presidio Trading to Spin Out Crypto Market Tail Risk Strategy (CoinDesk)
Presidio Trading, a quantitative hedge fund focused on trading digital assets, plans to separate its crypto tail risk strategy into a standalone fund, the company said. The decision follows the strategy’s strong performance this year, the firm said. In June, the strategy returned about 560% while the overall fund added 4%. Ether (ETH) fell 44% and bitcoin (BTC) dropped 37% in the same period. “Many current and prospective investors in our multi-strategy fund were interested in learning about our tail risk strategy and if we could provide them with access to the strategy through a standalone vehicle,” said Christoper Kvamme, founder and CEO of Presidio Trading.
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A COO for Protean’s Growth Journey (Hedge Nordic)
Stockholm (HedgeNordic) – The founding duo of the newly-launched Swedish hedge fund Protean Select has appointed Daniel Mackey as the Chief Operating Officer of the fund management company. Mackey brings years of operating experience from roles as a chief financial officer at both private and listed companies, as well as several senior positions in fund administration. “We are thrilled to announce the appointment of Daniel Mackey as the COO of Protean Funds,” Pontus Dackmo and Carl Gustafsson, the founding duo of Protean Select, announce on LinkedIn.
Hedge Fund Redemptions Spike in September, But Slow Quarter on Quarter (Hedge Week)
Hedge fund redemptions grew in September to $48.59 billion (0.98% of industry assets), according to the Barclay Fund Flow Indicator published by BarclayHedge. A $185.16 billion trading loss during the month brought total hedge fund industry assets to $4.71 trillion as September ended. Except for a handful of sub-sectors, net redemptions were the norm across the hedge fund industry in September with only three sub-sectors managing to buck the trend: Option Strategies funds, attracting approximately $420 million (0.79% of assets); Emerging Markets – Asia funds added approximately $350 million (0.22% of assets); and Merger Arbitrage funds which brought in approximately $170 million (0.15% of assets).
