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Aquatic Capital Management, a systematic hedge fund firm founded in 2019 by Jonathan Graham, the former Head of Statistical Arbitrage and Equity High-Frequency Trading at Citadel, has appointed David Harks as a software engineer, according to a report by eFinancial Careers.
https://www.hedgeweek.com/aquatic-taps-balyasny-softare-engineer/Hedgeweek
Stanley Sheriff, a former Goldmans Sachs rates trader who has worked at FRW, LMR Partners, Millennium and Taula Capital Management since leaving the bank in 2018, will join Balyasny's Dubai operation having spent under a month at Taula, according to a report by eFinancial Careers.
https://www.hedgeweek.com/trader-leaves-talua-for-balyasny-after-less-than-a-month/Hedgeweek
MarketAxess Holdings, the operator of a leading electronic trading platform for fixed-income securities, has appointed John Maggiacomo to the newly-created role of Head of Client Sales in North America.
https://www.hedgeweek.com/marketaxess-appoints-head-of-north-america-client-sales/Hedgeweek
Appaloosa Management, the distressed debt-focussed hedge fund founded by David Tepper, boosted its holdings in beaten-down Chinese stocks in Q1 while cutting its exposure to US tech stocks, according to a report by Bloomberg.
https://www.hedgeweek.com/appaloosa-goes-bargain-hunting-in-china/Hedgeweek
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Peconic Partners, the $1.8bn long-short hedge fund firm run by Bill Harnisch, has continued a four-year winning run so far in 2024, with the fund up 18% year-to-date, extending a run of outperformance that includes a 26% gain in 2022 when the S&P 500 lost nearly 20%, according to a report by Bloomberg.
https://www.hedgeweek.com/peconic-extends-winning-run-with-18-ytd-gain/Hedgeweek
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Ashford Hospitality Trust’s CEO Monty J Bennett and director Kamal Jafarnia have tendered their resignations following the results of the REIT’s annual stockholders meeting on Tuesday, and a month-long “Monty Must Go” campaign by shareholder and activist hedge fund firm Blackwells Capital.
https://www.hedgeweek.com/blackwells-ashford-hospitality-trust-campaign-stutters/Hedgeweek
TOP STORY: As well as proving popular with retail investors, bitcoin ETFs have caught the attention of hedge fund majors including Millennium Management, Schonfeld Strategic Advisors and Point72 Asset Management, according to a report by Bloomberg.
https://www.hedgeweek.com/millennium-schonfeld-and-point72-among-btc-etf-buyers/Hedgeweek
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Hong Kong-listed company Wealthink AI-Innovation Capital has invested in a hedge fund run by Tide Capital, an investment firm focused on bitcoin and bitcoin ecosystem investments.
https://www.hedgeweek.com/tide-capital-hedge-fund-secures-investment-from-wealthink-ai-innovation-capital/Hedgeweek
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Hedge fund Coatue Management ditched its holding in Apple during the first three months of the year, while fellow Tiger cub Viking Global built a sizeable new position in the tech giant, according to a report by Reuters.
https://www.hedgeweek.com/tiger-cubs-coatue-and-viking-take-differing-views-on-apple/Hedgeweek
The world's largest futures exchange CME Group is aiming to capitalise on this year's surge in money managers demand for cryptocurrency exposure with the launch of bitcoin spot trading on its platform, according to a report by the Financial Times.
https://www.hedgeweek.com/cme-to-launch-bitcoin-trading-for-hedge-funds-and-institutions/Hedgeweek
Hyperion Decimus, a digital asset management firm and a sponsor of a multi-strategy crypto hedge fund, has launched the HD CoinDesk Acheilus Fund, a strategy that will invest in digital assets leveraging institutional grade fiduciary management.
https://www.hedgeweek.com/hd-launches-crypto-hedge-fund-for-institutional-investors/Hedgeweek
BCA Research, a provider of independent macro investment research to hedge funds and other asset management firms, has appointed Jing Sima as China Strategist. Sima will work closely with Arthur Budaghyan, BCA Chief EM/China Strategist.
https://www.hedgeweek.com/bca-research-appoints-china-strategist/Hedgeweek
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TOP STORY: Quant hedge fund Renaissance Technologies was positioned to benefit from the meme stock mania sweeping the US this week, having added a new long position in GameStop and significantly increased its position in AMC Entertainment during Q1, according to a report by Reuters.
https://www.hedgeweek.com/renaissance-acquired-gamestop-and-amc-shares-ahead-of-meme-stock-rally/Hedgeweek
BlockTower Capital, an investment firm with $1.7bn in AUM, has experienced a security breach in its main hedge fund, leading to partial losses, according to a report by Bloomberg citing people familiar with the matter.
https://www.hedgeweek.com/assets-stolen-from-blocktower-capital-hedge-fund/Hedgeweek
May 2024 | Private credit has proved an unmissable growth area on Wall Street since the pandemic. This new Hedgeweek report provides exclusive data-driven insights and intel into the key trends and technology driving growth in this $1.6tn sector – and covers the outlook ahead. Get all the intel, plus insights from the sector’s leading firms, in this exclusive Hedgeweek special report, sponsored by SS&C Advent.
https://www.hedgeweek.com/private-credit-trends-tech-and-future-directory/Hedgeweek
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Jain Global, the hedge fund founded by former Millennium Co-Chief Investment Officer Bobby Jain which is set to make a much anticipated debut next month, has appointed David Salpeter as Head of Leveraged Finance in New York.
https://www.hedgeweek.com/jain-global-appoints-head-of-leveraged-finance-research/Hedgeweek
A 3.8% decline in April has prompted Brazilian hedge fund Verde Asset Management, which has a track record of strong performance since launching in 1997, to pare its bets on both domestic stocks and falling interest rates, according to a report by Bloomberg.
https://www.hedgeweek.com/verde-cuts-brazil-bets-following-3-8-april-loss/Hedgeweek
Lightkeeper, a provider of portfolio intelligence tools to the hedge fund sector, has launched Idea Analytics Software (IAS), a software solution aiming to deliver analysis and attribution for all investment ideas.
https://www.hedgeweek.com/lightkeeper-launches-software-for-investment-ideas/Hedgeweek
Global financial services platform Marex has added Mark Ralph to its prime sales team based in London. In his new role, Ralph will serve hedge funds, family offices and private banks.
https://www.hedgeweek.com/financial-services-platform-marex-adds-to-prime-sales-team/Hedgeweek
Jerome Saragoussi, Head of Macro Research and Strategy at Schonfeld Strategic Partners, is leaving the firm to join Bridgewater Associates, the world's largest hedge fund, in June, according to a report by Business Insider.
https://www.hedgeweek.com/bridgewater-taps-schonfelds-top-macro-researcher/Hedgeweek
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New York-based prime brokerage firm Clear Street has appointed Sean Hendelman, founder of T3, a trading, training and technology provider to professional traders, as Chief Executive Officer of its active trading division.
https://www.hedgeweek.com/clear-street-appoints-ceo-of-active-trading-division/Hedgeweek
TOP STORY: The prospect of softer US inflation bringing the outlook for monetary policy on both sides of the Atlantic closer in sync has pushed demand for options that pay out if the euro strengthens against the dollar over the next week to the highest seen since February, according to a report by Bloomberg.
https://www.hedgeweek.com/hedge-funds-position-for-stronger-euro/Hedgeweek
Neil Phillips, the co-founder of hedge fund Glen Point Capital who was convicted of manipulating the US dollar-rand exchange rate to trigger a payout on a $20m option, should not be sent to prison, according to his lawyers.
https://www.hedgeweek.com/prison-sentence-not-appropriate-for-hedge-fund-manager-phillips-say-lawyers/Hedgeweek
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Ahead of the Hedgeweek Emerging Managers US Summit, Bernie Yu, Chief Investment Officer at Patronus Capital Management, talks to us about being fiscally conservative in pursuing aggressive growth, investing in young talent and understanding the entrepreneurial spirit.
https://www.hedgeweek.com/in-conversation-bernie-yu-chief-investment-officer-at-patronus-capital-management/Hedgeweek
Digital asset investment products saw inflows totalling $130m last week, the first positive flows seen in five weeks, according to the latest digital assets fund flows weekly report from CoinShares.
https://www.hedgeweek.com/digital-assets-fund-see-first-inflows-in-five-weeks/Hedgeweek
Quant hedge fund Qube Research & Technologies has continued its recent hiring spree with the appointment of Simon Bannister as Quantitative Technology Director, from the London Stock Exchange Group, where he served as Infrastucture Programme Director.
https://www.hedgeweek.com/qube-taps-lseg-infrastructure-programme-director-as-quant-technology-director/Hedgeweek
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Paris-based quantitative asset management firm TOBAM's patented LBRTY strategy has surpassed $100m in AUM just six months after its launch, following an investment by a US-based endowment fund.
https://www.hedgeweek.com/tobams-lbrty-strategy-passes-100m-mark/Hedgeweek
The US Treasury Department and the Securities and Exchange Commission have jointly proposed a number of new rules aimed at preventing the use of hedge funds and other investment vehicles to launder money or fund terrorist activity, according to a report by Bloomberg.
https://www.hedgeweek.com/us-proposes-new-hedge-fund-anti-money-laundering-rules/Hedgeweek
TOP STORY: The sudden re-emergence of “Roaring Kitty” – aka Keith Gill – on social media triggered a huge surge in the price of GameStop shares that left short sellers facing losses approaching $1bn, according to a report by CNBC citing figures from data provider S3 Partners.
https://www.hedgeweek.com/gamestop-short-sellers-take-1bn-hit/Hedgeweek
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Browse news and career advice from the financial services, investment banking, fintech industry. Get expert insight into what it's like to work in finance.
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