Unilever Taps Outsider as New CEO Backed by Activist Peltz (Reuters)
Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July 1 in a move welcomed by board member and activist shareholder Nelson Peltz. One of the world’s largest consumer companies with more than 400 brands ranging from detergent to ice cream, Unilever has had a bumpy couple of years after failing to buy GSK’s consumer goods business. Schumacher, 51, joined Unilever last October as non-executive director and is currently the chief of Dutch dairy business FrieslandCampina.
What’s the Link Between Top-Earning Hedge Fund Citadel and GameStop Stock? (The Street)
2022 was phenomenal for Citadel‘s flagship hedge funds, which posted a record annual profit of $16 billion and outperformed all hedge fund peers. In January 2021, Citadel was involved in GameStop’s massive short squeeze and has been the target of criticism from retail investors ever since. Last year, Citadel’s Ken Griffin said in an interview that the decline of speculative assets like meme stocks, cryptocurrencies, and NFTs is healthy for the economy. The Best-Performing Hedge Fund of the Year: In 2022, hedge funds lost 6.5%, making it the worst year for returns since 2008, according to Reuters. However, for the Citadel hedge fund, the story was quite different.
‘Bitcoin (BTC) Over $100,000,’ Hedge Fund Founder Shares His Bullish Take (U.Today)
The founder of crypto hedge fund BlockTower Capital, Ari Paul, has expressed a bullish opinion, stating that Bitcoin could reach a price of $100,000 per coin by the end of 2024. Aware of the extreme optimism of his prognosis, Paul shared the arguments that had led him to think so. Given the current macroeconomic climate, Bitcoin reaching its double all-time high, which would be just around $110,000, seems a plausible, though not easy, development. If financial markets turn on risk-on as they did in 2021, perhaps this target will even be conservative, Paul says.
Rawpixel / shutterstock.com
Global Macro Hedge Fund Asia Genesis Gets Listed on ADDX (Opalesque)
A global macro hedge fund has taken the tokenised road to minimise its subscription size. ADDX has just listed Asia Genesis Macro Fund, a global macro hedge fund launched by veteran trader Chua Soon Hock in May 2020. ADDX is a global private market exchange in Singapore that wants to democratise the private capital markets through blockchain and smart contract technology. Using these tools, ADDX was able to reduce the minimum subscription size of Asia Genesis from US$1m to US$20,000 for its investors.
Tech-Driven Hedge Fund Two Sigma Renews Lease on Lower Sixth Avenue (New York Post)
The retrenchment and space-shedding wave that’s swamping financial and tech firms hasn’t struck Two Sigma yet. The technology-driven hedge fund — which employs AI as part of its trading strategy — quietly renewed on 260,000 square feet for seven more years at 100 Sixth Ave., we’ve learned. The firm also has over 100,000 square feet at 101 Sixth Ave. next door. No one involved would comment. Our source said the asking rent was $80 per square foot. The owners of 100 Sixth are a joint venture of Trinity Real Estate, Norges Bank Investment Management and operating partner Hines.
