Hedge Fund Odey Takes Short Position Against Deliveroo After Disastrous IPO (CityA.M.)
Odey Asset Management has taken a short position against Deliveroo after a disastrous start to the delivery firm’s London IPO. Odey fund managers James Hanbury and Jamie Grimston took the bet on Deliveroo’s first day of trading, according to investor documents seen by the Financial Times. Deliveroo made its debut on 31 March with a 390p offer price before plunging as much as 30 per cent, wiping £2bn off its valuation. Shares have continued to fall and is now trading at around 227p.
$21 Billion Hedge Fund D1 Capital has been on a Private Investing Spree. Here are 24 Companies It’s Backed in 2021 from Unicorns Like Squarespace to Corporate Card Startup Ramp. (Business Insider)
Hedge fund D1 Capital Partners, run by billionaire Dan Sundheim, is continuing to ramp up its private market bets — having invested in at least 24 private companies in 2021 so far. The $21 billion hedge fund has been making private investments in startups since its launch in 2018. Popular among fellow Tiger Cub firms Tiger Global and Coatue Management, private investing continues to take the hedge fund world by storm this year.
Credit Suisse Taps Investors for Cash After Archegos Loss Widens (The Wall Street Journal)
Credit Suisse Group AG asked investors for up to $2 billion in fresh capital after losses from Archegos Capital Management swelled more than previously disclosed, highlighting the damage caused by the collapse of the New York investment firm. The Swiss banking giant has been buffeted by the twin crises of the Archegos loss and the collapse of another client, Greensill Capital.
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Hedge Fund Performance Monitor: March 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark gained +2.32% in March, building on February’s gains of 3.12%. This is the sixth consecutive month of positive performance for the asset class, pushing the 2021 YTD figure to +7.81%, and the 12-month return to +41.52%. Read our Performance Monitor for a look at how equity, credit, and macro strategies performed in March. The Monitor presents hedge fund performance benchmarks, plus the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.
Ray Dalio Gives Employees a Personality Test—Here’s One Dalio Created that You Can Take for Free (CNBC)
Billionaire Ray Dalio believes in the usefulness of personality assessments — he has used a number of different personality tests for recruitment and management purposes at his hedge fund, Bridgewater Associates. Now, with the help of expert psychologists, including organizational psychologist and bestselling author Adam Grant, Dalio has developed a new online personality assessment that anyone can take for free.
Hedge Fund IPM Closes After Losing $4 Billion in Pandemic (Bloomberg)
Informed Portfolio Management, a Swedish hedge fund that had relied on statistical models to devise its strategies, is set to shut its doors and return investor capital after losing roughly $4 billion during the pandemic. IPM, whose main owner is Stockholm-based investment firm Catella AB, had assets under management of close to $5 billion in late 2019, before the pandemic hit. A year later, that amount had more than halved to $2 billion, with the investor exodus since then depleting assets to about $750 million.
