Hedge Fund Manager Kyle Bass: Buckle Your Seatbelts on Oil Prices (Seeking Alpha)
Closely watched hedge fund manager Kyle Bass said Thursday that oil prices could rise “well north of $100” in 2022 as a lack of investment in the hydrocarbon industry meets a surge in demand as the global economy emerges from COVID restrictions. “I think you should buckle your seatbelts,” the founder and chief investment officer of Hayman Capital Management said. “We’re going to see really high prices very soon.”
Perceptive Posts Biggest Loss in Its History (Institutional Investor)
Joseph Edelman’s life sciences firm suffered a rare major setback last year. Perceptive Advisors had a rough 2021.The life sciences and biopharma specialist’s main hedge fund, Perceptive Life Sciences Fund, suffered its worst loss in its 23-year history, dropping nearly 28 percent for the year. Meanwhile, the initial public offering of a company essentially created by Perceptive has so far been a disaster.
Coatue-Backed HR Startup Deel Just Made Its First Acquisition Since the New York Hedge Fund Invested in the Company at a $5.5 Billion Valuation (Business Insider)
Remote hiring startup Deel has made its first acquisition since it landed investment from New York hedge fund Coatue and has tipped the HR tech industry to go through widespread consolidation. The San Francisco-based startup, which makes it easier to hire people in different countries by automating functions like payroll and compliance, has bought US HR software company Roots for an undisclosed fee.
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New York Condo Sells for Close to $190 Million; Hedge-Fund Billionaire Doubles His Money (The Wall Street Journal)
Billionaire investor Daniel Och has sold a Manhattan penthouse overlooking Central Park for close to $190 million, roughly double what he paid just over two years ago, according to people familiar with the deal. The sale is one of the most expensive ever completed in New York. The four-bedroom penthouse spans about 9,800 square feet at 220 Central Park South, according to marketing materials for the property.
Schonfeld Hedge Fund Bankrolls Its New Macro Trading Team With $5 Billion (Bloomberg)
Schonfeld Strategic Advisors allocated $5 billion for a new macro trading unit that will debut next week to take on hedge fund giants including Citadel and Brevan Howard Asset Management. The new group is led by industry veterans Colin Lancaster and Mitesh Parikh and the initial commitment includes leverage, according to a person with knowledge of the matter. The unit will start with 10 portfolio managers and use Schonfeld’s platform to build out the business, said the person, who asked not to be identified because the information is private.
Hedge Funds Wrap 2021 with a 1.26 per cent Gain in December (Hedge Week)
The hedge fund industry returned to monthly gains in December, returning 1.26 per cent for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was up 4.48 per cent in December. For the year, the hedge fund industry posted a 10.32 per cent cumulative return for 2021.
