Marshall Wace Shorts London’s Latest Big IPO (Financial News)
One of the largest IPOs in London this year is already facing pressure from short-sellers, less than a month after it made its debut on the London Stock Exchange. Hedge fund Marshall Wace disclosed a 0.5% short position on cross-border payments and foreign exchange provider CAB Payments on 24 July, according to data from analytics firm Breakout Point.
Hedonova Navigates the Future of Alternative Investment in UAE (Khaleej Times)
Hedonova, a US-based hedge fund, is strengthening its UAE portfolio as it navigates the promising future of alternative investments in the GCC market. As a premium hedge fund that specialises in alternative investments, Hedonova’s team affirms that the future of alternative as well as sustainable investments in the UAE holds great potential. The up-and-coming hedge fund in the region is keen on providing appealing, lucrative opportunities for those seeking higher yields and portfolio stability.
Citadel Securities’ Revenue Drops 35% Amid Lower Market Volatility; Ken Griffin Braces for U.S. Recession (The Street)
Citadel Securities, the market-making division of Citadel, experienced a 35% decline in net trading revenue in the first half of 2023 compared to the previous year. The company’s strong performance last year was fueled by increased market volatility, but calmer market conditions this year led to a drop in revenue. Ken Griffin, the manager of Citadel’s hedge fund, is preparing for a potential U.S. recession and has been focusing on a high-yield credit market strategy.
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Distressed Focused Hedge Funds Vie for Discounted REIT Shares (Propmodo.com)
There hasn’t been a wave of bargain-basement deals in commercial real estate, but there certainly has been some discounting of valuations of publicly traded REITS. Now top hedge fund managers that focus on distressed investing are competing to acquire shares of struggling REITs. A prime example involves D.E. Shaw, Flat Footed, H/2 Capital Partners, and Lonestar Capital, which joined forces to acquire one-fifth of the shares of healthcare REIT Diversified Healthcare Trust earlier this year. Later, the management team behind Diversified Healthcare revealed its intent to merge the healthcare REIT with a struggling office REIT, news that led the hedge fund investors to cry foul, claiming such a move would decimate the value of their investment.
Hedge Fund Point72 Adds Portfolio Managers in New York, London (eFinancialCareers.com)
Hedge funds have been adding people like crazy this year, and funds both big and small have been joining in on the action. Point72 is one of the bigger ones – and we’ve spotted it adding at least two new portfolio managers around the world this month. Siddharth Mehla joined the fund this month in New York from a 17-year career with Barclays in the city. He was an options trader for the bank, and part of its 2019 class of managing directors. Mehla is a graduate of a highly in-demand Indian Institution of Technology, which other trading firms scope out interns from.
