Hedge Fund Tycoon Robert Mercer’s Sheriff’s Badge Has Been Revoked
10mos ago

(Bloomberg) The New York hedge fund magnate and conservative donor had his status as a volunteer deputy sheriff revoked by Yuma County, Colorado, Sheriff Chad Day on Monday, his last day in office. Day lost his re-election bid last year […]

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Start your day with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter. DUCK HUNTING Charles Schwab is a bad, bad man. Chuck's decision on October 1st to move from $4.95 ...




Wellington Management, a USD1.1 trillion global asset manager, has chosen Artivest's open-architecture digital platform to help provide financial advisors and qualified high-net-worth investors access to its alternative strategies.


Itarle, a provider of high-performance, best execution services, algorithmic execution and analytics services to trading venues, has appointed James Thorpe as Regional Manager of its Chicago office to further boost its presence across North America.


Nearly 45 per cent of hedge fund saw inflows in October but overall outflows continued for eighth consecutive month.






Tokyo woos hedge funds in crisis-hit Hong Kong  Financial Times




Success in any endeavor requires single-minded attention to detail and total concentration." - Willie Sutton, bank robber Alphacution has been writing untold stories about the most secretive, mythological and successful trading firms, hedge funds and asset managers in the history of the global markets ecosystem for the past couple years. What originated as our "Hiding [...]



"What is to give light must endure burning." - Viktor Frankl “The backbone of surprise is fusing speed with secrecy.” – Carl von Clausewitz UPDATE 11/21/2019 (bottom of post) Why is it coming out now, apparently months after the talks took place, that Blackstone inquired about buying a stake in Citadel? There are a [...]


Steve Cohen and Michael Milken connected over their work with veterans during a fundraiser for the Prostate Cancer Foundation via @business @AmandaGordon



The phrase “books and records” hardly suggests excitement. Yet, the cliched corporate lawyers’ phrase is not without payoff, either. Activist hedge funds are always interested in ammunition that will help them shake up entrenched managements and unlock value. The question often arises during the resultant fights: when does an activist/dissidentRead More




By: Kate Binedell, Christine Ormond Bryan Cave Leighton Paisner ILPA has recently published a model limited partnership agreement (LPA) that reflects preferred terms and practices for the LP community investing in private equity funds. The Model LPA conforms to ILPA Principles 3.0 (published earlie...


Bailey McCann, Opalesque New York: Activist investors launched public demands at 117 European-headquartered companies in the first nine months of 2019 - the lowest level since the comparable period in 2015 due to a decline in activity in peripheral markets, according to Activist Investing in Europe ...


Laxman Pai, Opalesque Asia: As progress is made on a US-China trade deal, the Preqin AllStrategies Hedge Fund benchmark returned +1.06% in October, building upon a return of +0.40% in September. According to Preqin, this pushes the 2019 YTD and 12-month returns to +8.50% and +5.65% respectively. A...


B. G., Opalesque Geneva: Louis Bacon 's Moore Capital Management is to return capital from its three macro hedge funds to investors. The funds will continue running partners ' money and Bacon, 63, will reduce his involvement in trading, according to a letter to investors seen by Bloomberg. The fir...


UK's Border to Coast launches $6.5bn alpha fund From IPE: Border to Coast Pensions Partnership, one of the largest UK public sector pension pools in the UK with assets worth approximately pound;45bn ($6.5bn), has launched a global equity alpha fund, with assets worth pound;5bn. External manage...


From HedgeNordic: Stockholm-based asset manager Alfakraft Fonder has switched directions and revamped its focus by temporarily shutting down the hedge fund business. The asset manager no longer manages any hedge funds after closing down three hedge funds and overhauling the strategy of a fourth fund...


The SS C GlobeOp Forward Redemption Indicator for November 2019 measured 4.81%, up from 3.76% in October. "SS C GlobeOp's Forward Redemption Indicator was 4.81% for November 2019, an increase compared to the 3.96% reported for the same period a year ago," said Bill Stone, Chairm...


Montana allocates $70m to 2 alts funds From PIonline.com: Montana Board of Investments, Helena, committed $70 million to two alternatives funds, confirmed Dana Chapman, office manager and board secretary, in an email. The board approved a $40 million commitment to Veritas Capital VII, a buyout f...


Hedge funds sold Netflix and Facebook stock - and bought GM and Lowe's From Barrons: Hedge funds doubled down on their health-care and industrials investments in the third quarter, while financials and consumer staples remained out of favor. Mutual funds and hedge funds have to report their hold...


Abbey Capital promotes Mick Swift to CEO From PIonline.com: Michael "Mick" Swift was promoted to CEO by managed futures specialist Abbey Capital. Swift is a partner and has served as deputy CEO and director of research since 2012. He will retain the latter role, a spokesman confir...


Second round of blockchain incubation program started in Switzerland's crypto valley Opalesque Industry Update - After the successful completion of the inaugural CV Labs Incubation Program in spring 2019, the second batch of incubatees has now started the unique program in the heart of the Crypto V...



European real estate investment continues to slow From Funds Europe: European real estate investment activity slowed throughout the third quarter compared to the same period in 2018. Year-on-year it was the seventh consecutive quarter of decreased investment volumes in the sector. A general slow...


From Facebook and iTunes to cryptocurrencies - what happens to your digital assets when you die? From FT: How would you react if someone on the other end of the phone said "fantastic" in response to hearing that your spouse had died? This is what happened to Louise Kaye when she p...


Corporate pension plan buyouts surge 22% in Q3 From PIonline.com: U.S. corporate pension plan buyout sales totaled $7.7 billion in the third quarter, a LIMRA Secure Retirement Institute sales survey found. The amount for the quarter was up 22% from the third quarter of 2018, when buyout sales total...


Demand for private debt in Europe exceeds other regions Demand for private debt in Europe has exceeded other regions in recent months. Bouncing back after a weaker Q2, in Q3 2019 Europe-focused private debt funds secured a total of $14bn, significantly outpacing North America ($6.5bn), Asia ($1.5bn...


From Nikkei: Japan's parliament on Friday passed a bill that toughens restrictions on foreign investments in sensitive industries, despite concerns that the move could impede flows of money into the country. The upper house of the bicameral Diet voted unanimously in favor of the revision to the fore...


Why corporate venture capital is more important than ever for the Fortune 500 From Forbes: For two decades, David Horowitz has been at the forefront of helping Fortune 500 companies navigate the world of venture capital and startups. During his 14 years at Comcast Ventures, he invested in multiple...



How negative #rates can send #bond prices soaring --> via @markets


So WeWork has cost Masa Son $4 billion (and counting), female employees their maternity leave and dignity, and has deprived us of our own Thornton McEnery. Now, it’s also costing 2,400 people their jobs. That’s a lot, but given how things are going, it could be worse: The company is losing more ...



Louis Bacon's Moore Capital Management is returning client money from three flagship funds, as another major macro firm succumbs after years of poor returns, report @burtonkathy and @katiaporzo --> via @markets





For nearly a decade, Moore Capital Management founder Louis Bacon and his Bahamas neighbor, Canadian discount fashion mogul Peter Nygard, have nursed a small disagreement about the latter’s 150,000-square foot Mayan-style resort abutting the former’s presumably less-ostentatious beach home. While ...




Hedge Fund legend Louis Bacon is calling it quits after three decades. CNBC's Leslie Picker reports.



Billionaire Louis Bacon is effectively quitting the hedge fund business after several years of poor performance, ending his 30-year career.





The SS&C GlobeOp Forward Redemption Indicatorfor November 2019 measured 4.81 per cent,upfrom 3.76 per cent in October.


Gen Cap America has partnered with management to acquire Griffin Gear (Griffin), a South Carolina-based manufacturer of replacement gearing and gearbox rebuilds for a wide variety of industrial applications. Terms of the transaction have not been disclosed.


Independent Wealth Planners UK (IWP) is planning to launch a new national brand in 2020 with over GBP2 billion of client assets. Launch members will include a dozen independent financial advisory (IFA) firms giving IWP a presence across the country.


ForbesBarron'sThe Wall Street JournalNew York Post Bloomberg


In fairness to Bryan Cohen, there are not a ton of great places to keep a stack of 240 $100 bills in most peoples’ houses, to say nothing of their one-bedroom apartments. You’re probably not going to just leave it on the kitchen table or floating around in a desk drawer. Under the mattress, in the ...






The step to privatize Moore Capital will mark the end of a storied era at the firm and follows years of weaker performance at the fund.




Start your day with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter. FO FREE?! Christmas came early for quants. Goldman is taking a page out of Kris Kringle’s playbook ...




Hedge Fund Firefly Hits Out at Gulfport Energy’s Plans, Demands Board Seat (Reuters) NEW YORK (Reuters) – Firefly Value Partners on Thursday asked Gulfport Energy for a seat on its board and ...


Irish Funds has announced total net assets stand at a record EUR2.925 trillion, according to latest data to end September from the Central Bank of Ireland (CBI).


Tradeweb Markets, an operator of electronic marketplaces for rates, credit, equities and money markets, has launched portfolio trading for European Credit bonds, just ten months after successfully introducing the functionality for US Credit bonds.


However, as when comparing apples to oranges, not all fees and expense ratios are created equal. This realization became even clearer to me five years ago while I was in Chicago meeting with one of ...


Asset manager ACTIAM has launched the ACTIAM (L) Sustainable Emerging Markets Debt Fund.


Global ETF assets have surpassed USD6 trillion in according to research released by EPFR, a subsidiary of Informa and a specialist in providing fund flows and allocation data to financial institutions.



CGS-CIMB Securities (CGS-CIMB) has launched a new full-service prime services platform designed to service the rapidly growing smaller funds sector, including hedge funds, family offices, proprietary traders, asset managers and broker dealers.







"The idea of the song is how great it is to get back to zero." - Cy Curnin, The Fixx frontman, in reference to the Buddhist mantra, Śūnyatā Today, Amazon announced that it would be launching cashierless grocery stores in 2020. Immediately, a thought-bubble arose above my head and played a scene from the Illinois [...]








Bailey McCann, Opalesque New York: Private credit continues to grow as investors of all types hunt for yield, according to a new survey from The Alternative Credit Council (ACC) and global law firm Dechert. However, as more money moves into the asset class, it 's likely risk-taking will increase and...


Laxman Pai, Opalesque Asia: The private equity (PE) market in Japan is enjoying a healthy period of growth, and investment opportunities are abundant, says Preqin. As the appetite for private equity continues to grow among the universe of investors in Japan - spearheaded by maiden investments from ...


Opalesque Industry Update - The hedge fund industry's redemption trend continued in September as a fourth straight month of net outflows saw monthly redemptions increasing to $14.7 billion. September's redemptions represented 0.5% of hedge fund industry assets and were up from August's $11.3 billio...


From FT: Shalin Madan is nervous. After his investment firm Bodhi Tree Asset Management had a tough October, he pored over the market runes. What he saw scared him enough to switch off his automated trading models. Fort Lauderdale-based Bodhi is a small quantitative firm with just $12m under manage...


CAVU Ventures announces close of third fund at $250m CAVU Venture Partners, one of the leading "better-for-you" consumer goods investment firms started by brand builder and ABC Shark Rohan Oza and former hedge fund veteran Brett Thomas, today announced the closing of their third...


Maryland State Retirement allocates $345m to 4 managers From PIonline.com: Maryland State Retirement Pension System, Baltimore, invested or committed $345 million to four managers in September and October, according to documents from its Tuesday board meeting. In private equity, the $54.1 bill...


The best-performing hedge funds are piling into these financial shares From CNBC: Bank stocks may seem far from hedge fund darlings, but some of the best and under-the-radar managers in the industry are doubling down on them. Every quarter, investors get a glimpse into an otherwise opaque arena ...


Neuberger Berman brings on specialist risk-premium investment team Neuberger Berman, a private, independent, employee-owned investment manager, announced that Maarten Nederlof will join as Head of Portfolio Solutions (Americas) for the Quantitative and Multi-Asset Class Investments (QMAC) team, r...


Singapore moots regulated trading in cryptocurrencies From Zdnet: Singapore is exploring plans to allow payment token derivatives, such as Bitcoin and Ether, to be traded on local exchanges and for such activities to be regulated. The move aims to address international investor interest in crypto...


Hedge fund Alden becomes Tribune's largest shareholder From Star Tribune: Hedge fund Alden Global Capital is now the largest shareholder of Tribune Publishing, the company that owns the Chicago Tribune, Baltimore Sun and New York Daily News. Alden, a hedge fund known for layoffs and slashing cos...


From WSJ: Senate Republicans unveiled a plan Wednesday to stabilize the failing pensions of 1.3 million miners, truckers, and other workers and retirees, setting the stage for a battle with House Democrats, who approved their own version of a fix over the summer. The workers and retirees belong to ...


More UK funds run by men called 'David' than women From City Wire: Investors in UK funds are more likely to have their money managed by a man called David than a woman, according to Morningstar research. Looking at a dataset of 1,496 UK-listed funds, Morningstar found that 7.2% were overseen by a...


Mainland Chinese investors pile into Hong Kong despite unrest From WSJ: Investors from mainland China have plowed nearly $20 billion into Hong Kong's stock market in less than six months, focusing on cheap valuations despite long-running unrest. Cumulative net purchases through the Stock Connect...


How private capital could provide 'triple win' for infrastructure From City Wire: The US's ailing infrastructure should not be this hard to improve and there is a real opportunity for private capital to step in and fill a major void, according to Cohen Steers's president. While the federal gov...


Private credit assets continue their rapid growth, but interest is cooling in U.K. From Market Watch: Private credit funds' interest in the U.K. market is cooling, as managers seek growth opportunities in the U.S. and Europe, according to a new report. Half of respondents to a survey by the Alter...


Schroders to fully integrate ESG into funds by end-2020 From Reuters: British asset manager Schroders (SDR.L) said on Wednesday it would fully integrate environmental, social and governance analysis across all of its fund assets by the end of 2020. At the moment, around 230 billion pounds in ass...


Former Och-Ziff executive sentenced to prison From WSJ: A former top executive of Och-Ziff Capital Management was sentenced to three months in prison after pleading guilty in May to making a false statement to the Federal Bureau of Investigation. The case against Michael Leslie Cohen, a former e...


Trucker's recovery under Elliott Management takes the long road From WSJ: Hedge fund Elliott Management Corp. took on Roadrunner Transportation Systems Inc. as a fixer-upper when the trucker was struggling financially even while a broad boom in shipping demand was forming that would lift competit...


PayPal to buy online rewards platform Honey for $4bn From Fine Extra: PayPal has agreed its largest ever acquisition - a $4 billion deal to buy Honey Science Corporation, the firm behind a browser extension and app that helps people find online shopping rewards and deals. Founded in 2012, Honey ...


From UPI: A Japanese hotel offers a room that costs only $1 per night, but there's a catch - the guest's entire stay is livestreamed on YouTube. Tetsuya Inoue, who took over the Asahi Ryokan hotel in Fukuoka from his grandmother last year, said he was looking for ways to boost business and was insp...












(Bloomberg) -- Even by his own standards, hedge fund perma-bear Russell Clark has never been this pessimistic. In his boldest move against stocks, the money manager raised the net short position in ...


Broadridge Financial Solutions has acquired ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets.


Camilo Lyon has joined BTIG’s Research and Strategy division to launch coverage across the consumer sector, focusing on lifestyle and wellness brands.


Analyst Hub, an independent research infrastructure platform company that provides talented sell-side analysts a path to owning their own enterprises, has added FFTT (Forest for the Trees) a boutique research and investment strategy firm that produces unique macroeconomic and thematic research, to its platform.


iCapital Network is to create a customised technology platform for PIMCO, that will provide financial advisers and their high-net-worth clients access to PIMCO’s alternative strategies.


CFA UK’s Certificate in ESG Investing, the first qualification of its kind in the UK, will be available to investment professionals from December.




The moment I learned that Masayoshi Son would pay Adam Neumann more than a billion dollars to walk away from the still-burning wreckage of WeWork, I felt a pang of sad awareness in the part of myself where my soul used to be before I said "Yes!" to joining Dealbreaker in the winter of 2015. It was ...




Consolidation in newspaper publishing reminds me of musical chairs, but in reverse. In conventional musical chairs, the winner is the last player with a seat. In newspaper consolidation, the last ...


New York’s just not quite the same place it was when Carl Icahn was bashing heads on the playground several centuries ago. It’s among the reasons he offered for moving to Florida in place of the actual reason, which is taxes. But what has led Uncle Carl to sour on the state of his birth, other than ...



A $40 million libel verdict awarded to a hedge fund and its principals will remain standing after the New Jersey Supreme Court declined to take up an appeal in the case. The court said Tuesday it ...



Start your day with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter. DAY IN COURT NY State has had enough of Juul’s alleged funny business. New York Attorney General ...



McKay Brothers International (MBI) is now offering connectivity at the lowest known commercial latency between the Tokyo-CC2 data centre and trading centres in Shanghai and Hong Kong.


Lyxor Asset Management has completed the integration of Commerzbank’s asset management activities and of its total EUR16 billion in assets under management, following the purchase of Commerzbank’s Equity Markets & Commodities business by its parent company Societe Generale Group in November 2018.


KRM22,aspecialist inEnterprise, Regulatory and Market Risk Management solutions for capital markets companies, has launched its Market Risk solution on its SaaS-based Global Risk Platform.


Dun & Bradstreet and Quantexa have announced a new partnership that aims to empower businesses to make better, context driven decisions using innovative data and analytics to provide a detailed picture of connected relationships.


BTIG has appointed Stefanie Gianakis as Director of Recruitment based in New York. In this new role, she will be responsible for staffing new and established business units across BTIG’s product lines.


The Maples Group, a service provider offering clients a range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, has made a number of strategic hires to its team in the Cayman Islands.



And yet, during the third quarter, billionaire money manager Jim Simons, founder of the Renaissance Technologies hedge fund, added to or opened positions in six cannabis stocks. Chicago Tribune’s New ...


Third party funds are the first port of call for advisers when seeking exposure to alternative assets on behalf of their clients, according to new research by Seneca Investment Managers, a boutique Multi-Asset Value investment specialist.


ATP and PFA, Denmark's two largest pension and social security providers, have appointed OpenGamma, a margin software vendor, to provide cleared and uncleared derivatives analytics ahead of the final implementation phases of the BCBS/IOSCO bilateral margin rules in 2020 and 2021.


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