Paul Tudor Jones, Hedge Fund Billionaire, Wants to Do Away with ‘ESG’ (CNBC)
ESG has become one of the most polarizing topics for companies and across Wall Street. But billionaire hedge fund manager Paul Tudor Jones says that a lot of the pushback simply comes down to how it is framed by critics. “ESG is incorrectly characterized,” Tudor Jones said on “Squawk Box” on Tuesday. “Certainly, by what the American public tells us, it should be SGE.” The specific component of “S” that Tudor Jones says should be the focus is workers and job creation.
Factbox: Activist Investor Bluebell’s Offensive Against European Giants Heats Up (Reuters)
Jan 11 (Reuters) – Activist hedge fund Bluebell Capital Partners shows no sign of halting its run of challenging the policies and executives of some of the world’s biggest companies. The group has taken on the likes of GSK Plc (GSK.L), Glencore Plc (GLEN.L), Vivendi SE (VIV.PA) and Danone SA (DANO.PA) while owning minor stakes, as well as attempting to oust BlackRock Inc (BLK.N) boss Larry Fink. It is now pushing for a break-up of the German pharmaceutical and agriculture firm Bayer (BAYGn.DE), a person familiar with the matter told Reuters.
$17 Billion Hedge Fund Balyasny has Promoted 7 New Partners, Further Sharing Power in an Industry Known for Larger-Than-Life Founders with Total Authority (Business Insider)
Balyasny Asset Management is expanding its partnership ranks for only the third time in the hedge fund’s history, announcing on Wednesday seven new partners, according to an internal memo seen by Insider. While partnership announcements are a common fixture at some investment banks and law firms, they’re less common in a hedge fund industry known for larger-than-life founders who cultivate a mystique of investment brilliance. Billionaires names like Ken Griffin, Izzy Englander, and Steve Cohen are often synonymous with the funds they founded: Citadel, Millennium Management, and Point72 Asset Management, respectively.
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CARN Co-Founder Leaves (Hedge Nordic)
Stockholm (HedgeNordic) – Christer Bjørndal has left his role as portfolio manager at the Oslo-based asset management boutique he co-founded with Andreas Bomann-Larsen in 2015. Bomann-Larsen will remain the sole portfolio manager of CARN Capital’s long/short equity fund CARN Latitude and long-only equity fund CARN Longitude. “Christer Bjørndal left the company at the end of the year. We are thankful for his contributions to the company, and we wish him all the best in his next chapter of his career,” says a monthly letter penned by Andreas Bomann-Larsen. “Christer will remain a central owner in the management company and stay significantly invested in our funds,” according to Bomann-Larsen.
Polar’s $5.6 Billion Fund Posts Small Gain in Gruelling Year for Markets (Bloomberg)
Polar Asset Management Partners Inc.’s largest hedge fund delivered its smallest annual return since 2011, but still managed to make money despite the sharp correction in global equities and bonds. The Canadian firm’s flagship fund gained 1.4% last year, marking its 11th straight year of gains. The fund, managed by Chief Investment Officer Paul Sabourin, follows several strategies, including convertible arbitrage, equity long-short trades and structured credit, according to its website.
