Ray Dalio Opens Up about Son’s Tragic Death: ‘It was Like a Bomb Went Off that Tore… Our Family Up’ (Fox Business)
Billionaire hedge fund founder Ray Dalio on Wednesday opened up about his son’s death, just weeks after the deadly Connecticut car crash that “tore” up his family. In December, Ray Dalio’s son, Devon, was killed when the Audi he was driving crashed into a Verizon store at a shopping center in Greenwich and burst into flames. He suffered from smoke inhalation and thermal injuries, which led to his death, officials confirmed to Fox News.
Citadel and Reddit Executives Expected at GameStop Hearing (The New York Times)
Kenneth C. Griffin, the billionaire hedge fund manager, may be among the executives who testify at next week’s Congressional hearing about the recent madcap trading in shares of GameStop that bruised many big investors, a person with knowledge of the matter said. Mr. Griffin’s firm, Citadel, was a central player in the GameStop drama both because of its investments and the role of its sister company, Citadel Securities, as a market maker in stocks. It was asked to make an executive available for the Feb. 18 hearing scheduled by the House Financial Services Committee, this person said, but the company is still waiting to hear whether the committee will call Mr. Griffin or another executive.
Sculptor Hedge Fund Hits Sixth Straight Year of Outflows (Pensions & Investments)
Sculptor Capital Management incurred withdrawals of $92 million from its flagship hedge funds in the fourth quarter, capping 2020 with its sixth straight year of outflows. The withdrawals from the Sculptor Master Fund and associated portfolios brought the 2020 total to $464 million, according to a statement Thursday from the New York-based firm. Over the past six years, clients have pulled about $30 billion from those products. Sculptor, formerly known as Och-Ziff, was founded in 1994 by billionaire Daniel Och. The outflows began after it was disclosed that it was the target of a bribery probe into its business in Africa in late 2014.
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Alden Is in Talks to Buy Tribune Publishing (The Wall Street Journal)
A hedge fund that owns a big stake in Tribune Publishing Co. is in talks to buy the newspaper chain behind titles including the Chicago Tribune and New York Daily News. Alden Global Capital LLC, Tribune’s largest shareholder with a 32% stake, is discussing a deal with the publishing company to buy the shares it doesn’t already own, according to people familiar with the matter. A deal for Tribune could be reached this month, the people said, though they cautioned that the negotiations are far from over and could still fall apart.
And the EuroHedge Awards Go To… (Hedge Nordic)
Stockholm (HedgeNordic) – EuroHedge has announced the winners of its 20th annual flagship awards, with the list of winners featuring six Nordic hedge funds. Accendo Capital, Alcur Select, KLP Alfa Global Energi, Lynx, Nordic Cross Stable Return, and Proxy Renewable Long/Short Energy were awarded on February 11 in a ceremony staged virtually because of the Covid-19 pandemic. The EuroHedge Awards aims to highlight the best risk-adjusted performers in the European hedge fund industry, with the nominations and eventual winners decided by an entirely quantitative process based on a combination of Sharpe ratios and absolute returns.
