Merger Arbitrage hedge funds have had a good year, according to Lyxor Asset Management’s Cross Asset Research management department. They say it’s because of the growth in the issuance of Special Purpose Acquisition Companies in the United States during 2020. SPACs are useful to investors strategizing merger arbitrage deals because of their low volatility return …
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After ten years at Coatue and three years at Blackstone before that, rising investment star Peter Zhou is planning to open his own, tech-based, hedge fund. Zhou left Philippe Laffont’s Coatue early in 2020, where he was a senior managing director. He is rumored to already have gathered $300 million to start his fund. No …
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Major League Baseball gave its blessing to the imminent purchase of the New York Mets for what will be a record price of between $2.4 billion and $2.45 billion. Steve Cohen, CEO, and president of Point72 Asset Management will purchase the team from the present owners, the Wilpon and Katz families. If the deal succeeds …
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Activist investor Paul Singer has decided to move his $41 billion hedge fund manager to Florida, joining a growing number of investment companies looking to lower their state tax burden. Elliot Management will keep some office space in Manhattan, but his new headquarters will be in West Palm Beach. He will also open offices in …
Soo Kim, 45, hedge fund investor and owner of gaming company Twin River Worldwide Holdings, purchased the global rights to the Bally’s name from owner Caesars Entertainment. The $20 million purchase will give Kim the rights to put the name on all of his gaming investments which include 11 casinos and his publicly traded headquarters. …
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According to HFR, the alternative investments data consultancy firm, there were 129 new hedge fund launches between April and June’s end this year. That number is the highest quarterly tally for new funds since Q2 2019.HFR’s president, Ken Heinz, explained that hedge funds are also posting high returns, even in the face of the twin …
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David Snoddy, a graduate of Tiger Management who took a break from investing for a few years, came roaring back over the past year and a half with 17% growth on his newly established long-short Japan hedge fund. Snoddy worked for Julian Robertson’s Tiger Management in the Tokyo office until he went out on his …
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In what is certainly a unique way of beating off COVID-19, Ray Dalio has taken his traders to the woods where fresh air and social distancing is sure to reduce Bridgewater employees’ risk of infection. Dalio put up tents in the forest that abuts the location of the $138 billion hedge fund headquarters in Westport, …
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Investors in Tesla have once again experienced disappointment with the decision by the S&P 500’s index committee’s decision to leave Tesla once again out of the respected index. Hope is not completely extinguished for Tesla cheerleaders. It often happens that mergers of other companies already on the index will leave a space for the iconic …
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Oceanwood Capital, an activist hedge fund headquartered in London, called on European leaders to re-think their country’s travel policies in a radically new way. The goal is to reduce carbon emissions in the fight against climate change, and the method is to make a conscious decision to switch from the wasteful use of flying to …
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