Tom Steyer’s Life Changed When He Revisited an Alaska Glacier and Saw How Much It had Melted (CNBC)
Tom Steyer, the former hedge fund executive, billionaire, and Democratic presidential candidate has become one of the leading activist investors on climate change. But he wasn’t always as concerned. For 26 years, Steyer ran the hedge fund he founded in 1986, Farallon Capital. It invested in all sectors of the economy — including fossil fuel companies.
Balyasny, BlueCrest, ExodusPoint Ground Traders Over Losses (Bloomberg)
The hedge fund traders watched as a nightmare scenario played out in the world’s bond markets. From Australia to the U.K. to the U.S., government bond yields abruptly moved against them last week amid growing speculation that central banks will accelerate plans for raising interest rates in the face of persistent inflation. The losses piled up — and for a few became so big that the firms halted some trading to contain the damage.
Tiger Global dealmakers Scott Shleifer and John Curtius are winning over Miami startups. The latest is QuickNode. (Business Insider)
Tiger Global Management has made an overpowering entrance into the venture-capital world. Now, the hedge fund’s top dealmakers, Scott Shleifer and John Curtius, are quickly winning over founders in the latest startup hot spot: Miami. The latest example: the blockchain-development platform QuickNode raised $35 million last week in an oversubscribed round led by Tiger Global with participation from Seven Seven Six, Soma Capital, and other investors.
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Hedge Fund Tycoon Paul Marshall Pledges GBP50 Million for LSE Social Impact Initiative (Hedge Week)
Sir Paul Marshall, co-founder, chairman and chief investment officer of UK hedge fund giant Marshall Wace, has donated GBP50 million to the London School of Economics’ Marshall Institute to establish a new accelerator programme aimed at tackling future environmental, health, and social inequality challenges. The Marshall Impact Accelerator – which is being unveiled on finance day at the COP26 climate summit in Glasgow and is scheduled to launch in spring next year – will provide philanthropic capital for innovative social ventures spanning environment, health, social inequality, public policy and developmental economics challenges.
With Hedges in Place, Ackman Calls on the Fed to Raise Rates (Institutional Investor)
Even with five million fewer people employed in the U.S. than before the start of the Covid-19 pandemic, the economy’s recovery has been so robust and the threat of inflation so high that hedge fund manager Bill Ackman thinks the Federal Reserve should “begin raising rates as soon as possible.” “A ‘wait and see’ approach to raising interest rates creates significant risks given the substantial progress to date on employment and inflation combined with the unprecedented economic backdrop,” Ackman wrote in an extensive presentation of the Investor Advisory Committee on Financial Markets to the New York Federal Reserve on Oct. 20.
