U.S. Appeals Court Restores Platinum Partners Executives’ Fraud Convictions (Reuters)
NEW YORK (Reuters) – A U.S. appeals court on Friday restored the fraud convictions of two former top executives at the now-defunct Platinum Partners hedge fund, saying a trial judge erred in acquitting one defendant and granting the other a new trial. In a 102-page decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said sufficient evidence supported the July 2019 jury convictions of Platinum co-founder Mark Nordlicht and co-chief investment officer David Levy.
Haidar Hits a New High (Institutional Investor)
Bridgewater, Discovery, Brevan Howard, and other macro funds were also in the black in October. High-flying Haidar Jupiter Fund posted another strong monthly gain in what was generally a profitable month for macro hedge funds. Haidar surged an estimated 6.48 percent in October and is now up about 81.36 percent for the year, according to an e-mail communication with investors seen by Institutional Investor.
Hedge Fund Mantle Ridge Considers Potential Activist Push at Dollar Tree (Bloomberg)
Mantle Ridge has been speaking to investors about raising a special purpose vehicle to build a stake in discount retailer Dollar Tree Inc., according to people familiar with the matter. The New York-based hedge fund has reached out to sovereign wealth funds and family offices regarding the potential vehicle, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and Mantle Ridge could opt against pursuing an investment. It’s not clear what kind of changes Mantle Ridge may seek at the Chesapeake, Virginia-based company.
Arcmont Asset Management Wraps Up Second Senior Loan Fund at $5.8bn (Opalesque)
European private debt asset management firm Arcmont Asset Management has completed the fundraising of its Senior Loan Fund II and associated vehicles, attracting total investable capital of €5 billion ($5.8bn). The private debt specialist said in a press release that the €5 billion raised exceeded Arcmont’s initial target, with the success of the fundraise reflecting the strong support received from both new and existing investors globally, including public and private pension funds, insurance companies, sovereign wealth funds, and family offices. More than half of the commitments were from investors in Arcmont’s prior funds, with strong participation from Europe, the United States, and the Asia Pacific.
Over Three-Quarters of Hedge Funds Say Regular Online Meetings Help Develop Talent in a Remote Working Environment (Hedge Week)
The Alternative Investment Management Association (AIMA) has just published new research exploring where hedge funds are sourcing talent and the steps taken to retain employees during the so-called ’Great Resignation’ and what roles (such as ESG specialists) will be most in demand in near future. Asked what they are doing to help develop talent in a remote working environment, the most popular answer given by hedge funds was regular online meetings (78 per cent), followed by webinars and online seminars (50 per cent) and coaching – both external and internal – (44 per cent).
