The Hedgeweekender | Matrix shuts down, Magellan eyes UAE debut, Trian trims Unilever, ExodusPoint's $1bn slip
This week in hedge funds
? David Goel, a former protégé of Tiger Management founder Julian Robertson, has decided to close his $11bn hedge fund firm Matrix Capital Management and return client cash, due to personal health issues.?Read more?
?? Dubai-based Magellan Capital is set to launch a $700m multi-strategy hedge fund next month, in what will be one off the largest ever fund debuts in the United Arab Emirates. The fund will focus on equity and credit strategies, according to Britney Lam, the firm’s head of long-short equities. Read more???
???? Bridgewater Associates , the world’s largest hedge fund, has continued its significant reduction in exposure to Chinese stocks, selling off US-listed Chinese holdings for the seventh quarter running in Q2 2024, according to a report by the South China Morning Post.?Read more?
?? Ossie Manners, a veteran in electronic trading, has joined Rokos Capital Management as the head of systematic technology. Manners previously led 花旗 ’s commodities electronic trading division for four years, departing the bank in April.?Read more??
?? Despite making a loss of $21m in 2023, after seeing a profit of $77m in the previous year, hedge fund Point72 ’s London subsidiary Point72 UK Limited has upped its headcount by 30%, according to the company’s latest financial statements. Read more??
?? Hedge funds are offloading stocks at their fastest pace in over two years, even as markets show signs of recovery, with US funds selling equities at levels not seen since Russia’s invasion of Ukraine in March 2022, according to 高盛 . Read more???
The week in numbers
?? 893% – Coatue Management, the hedge fund firm led by Philippe Laffont, increased its stake in 英伟达 by 893% in Q2 to 13.75m shares, with the position in the chipmaker now accounting for 6.61% of the firm’s investment portfolio. Read more???
?? 0.6% — Hedge fund performance improved in July to an average weighted return of 0.6%, up from 0.4% in the previous month, with over two-thirds of strategies ending the month in positive territory, according to the latest Monthly Hedge Fund Update from The Citco Group Limited . Read more??
领英推荐
?? $1bn – ExodusPoint Capital Management, LP saw a $1bn decline in AUM during H1 2024 to $11.04bn as of 30 June, down from $12.02bn at the end of 2023. At its peak in December 2022, the firm managed $13.1bn. Read more??
?? ￡181m – Trian Fund Management, L.P. , the US-based activist hedge fund firm led by Nelson Peltz, has cut its stake in British consumer goods giant 联合利华 , selling approximately 3.8m shares for nearly ￡181m ($232m). Read more?
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