The $190bn manager of the University of California’s endowment and pension has divested from hedge funds as its chief investment officer lambasted the asset class for failing to provide adequate risk protection. UC Investments in a meeting on Tuesday approved a plan to reallocate its 10 per cent absolute return portfolio — or its investments in hedge funds — to…
When Alex Goldstein was just 7 years old, he says, he was drawn to extreme weather. Within 10 years, he convinced his father to take him storm chasing and hasn’t stopped since. Now, at 35, he leads a small group of data scientists and meteorologists who help teams of traders at one of the world’s largest hedge funds position themselves…
In February 2022, the chief legal officer of hedge fund Citadel, Shawn Fagan, rang Eugene Scalia, a top lawyer who has made a career out of taking on US regulators. *** Following the call, Citadel and the other hedge funds and private equity firms opposing the plans decided on a strategy altogether more drastic than simply quibbling about individual aspects…
Today he’s enjoying the fruits of that epiphany. The duo went ahead and constructed one of the hedge fund industry’s first assembly lines of top talent — in Cohen’s words by taking people you’d rank as a “nine” and making them perfect 10s. The result is a conveyor belt of polished high-performers who’ve helped him rebuild after a costly insider-trading…
The National Association of Private Fund Managers, a little-known group whose main focus appears to be challenging SEC rules, has sat tucked in a Fort Worth law office since its founding in 2022. Its home is 1,500 miles from many hedge fund campuses in leafy Connecticut, and even further from London or Singapore, where its impact is being felt. But…
A sweeping US probe of activist short sellers has yielded its first notable punishment, while offering a rare glimpse into controversial collaborations between bearish researchers and hedge funds that place big bets against companies. The Securities and Exchange Commission fined affiliated money managers Anson Funds Management and Anson Advisors Inc. a total of $2.25 million on Tuesday, accusing them of…
The Securities and Exchange Commission today announced charges against Craig Allen for defrauding investors in The Cheetah Fund L.P., an Atlanta-based hedge fund that Allen founded and controlled. According to the SEC’s complaint, during the period between January 2019 and January 2023, Allen raised approximately $9.9 million from investors in the Cheetah Fund by lying about the fund’s supposedly superlative…
Despite the involvement of media vets, including on the founding team and in its investor ranks, this is not a journalistic endeavor. Specifically, the “researchers” will not be speaking with sources inside of companies for the sake of discovering non-public information and then trading on such knowledge, because that would be a clear violation of securities regulations. Instead, Hunterbrook researchers…
Authorities have spent more than four years investigating whether Morgan Stanley improperly tipped off favored hedge-fund clients to big blocks of stock coming on the market. The bank fired several employees and pulled back from the block trading business, losing market share to rivals. A possible settlement with Justice Department and Securities and Exchange Commission would involve a fine of…
The billionaire investor, who is 74, doesn’t necessarily want to come back to run the firm he founded 50 years ago. Instead, he has repeatedly brought up the idea of starting a new fund within Bridgewater that he hopes would help improve the firm’s investment returns, four of the people said. Bridgewater’s main fund has been on a downward slide…