The Hedgeweekender | Man Group, Trian, Jefferies, Brevan Howard
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This week in hedge fund world
?? Man Group , the world’s largest listed hedge fund, is among a number of investment firms increasing their exposure to convertible arbitrage, which seeks to capitalise on price discrepancies between a convertible bond and its underlying stock. Read more???
?? Nelson Peltz, the boss of activist hedge fund firm Trian Fund Management, L.P. , has sold his entire stake in 华特迪士尼公司 weeks after losing a proxy battle in April at the entertainment giant. Read more??
?? Jefferies , the main creditor of hedge fund Weiss Multi-Strategy Advisers , which went bust in April after over 40 years of trading, says the fund should claw back about $30m that it paid employees just before filing for bankruptcy.?Read more??
?? Elwood , a cryptocurrency-focused trade execution and risk management platform, is in talks to sell part of its business as backer Alan Howard, co-founder of hedge fund Brevan Howard , reorganises his portfolio of crypto investments. Read more??
?? The California State Assembly is considering a bill requiring private equity firms and hedge funds to obtain consent from the state's Attorney General prior to any change of control or acquisition of healthcare facilities or provider groups. Read more?
?? Private equity’s challenges in returning capital to clients are increasingly affecting hedge funds, which depend on the same pool of institutional investors including pension plans, foundations and endowments, for their fundraising efforts. Read more??
The week in numbers
?? $2.5bn – Activist hedge fund firm Elliott Investment Management L.P. has disclosed a stake of more than $2.5bn in chipmaker 德州仪器 . He has written a letter to the company’s board urging the business to improve its free cashflow. Read more??
?? $40,000 – Hedge fund manager Pierre Andurand forecasts a near quadrupling of copper prices to $40,000 a tonne in the coming years, driven by surging demand that is depleting global stockpiles of the red metal. Read more? ?
?? 33% – Among alternative investments, hedge funds are used by a third (33%) of family offices globally for diversification purposes, according to the 瑞银集团 Global Family Office Report 2024. Read more???
?? 1% — Gold futures rose 1% to $2,358 a troy ounce yesterday, making gains ahead of inflation data, as hedge funds ramped up their bullish bets on precious metals, ahead of the latest US inflation data. Read more??
Latest Hedgeweek research
Read Hedgeweek’s latest insights report, Private credit: Trends, tech and future trajectory, for an update on the key trends and technology driving growth in a $1.6tn sector that has proved an unmissable growth area on Wall Street since the pandemic, featuring contributions from the sector’s leading firms and data-driven intel on the outlook ahead.?This month’s report is sponsored by SS&C Advent.
Coming soon from Hedgeweek
Hedgeweek's European Digital Assets Summit 2024 is designed for operational and product specialists at European hedge funds. Taking place on Thursday 27 June 2024 at etc.venues County Hall, London, the agenda of curated panel session and roundtable discussions will feature expert speakers addressing the key developments, trends, and issues driving the growth of digital asset strategies and funds. Apply now