Northern Trust chosen for hedge fund administration by Anchorage Capital Group - GlobalCustodian.com
4mos ago

GlobalCustodian.com - Northern Trust has been appointed the fund administrator for New York-based Anchorage Capital Group, a $29.8 billion hedge fund. The mandate will also ...

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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





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.


ForbesFinancial TimesCity A.M.Barron'sBloomberg


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.


French asset manager Axiom Alternative Investments has appointed Gilles Frisch as Senior Portfolio Manager for its new UCITS format, long-short credit fund.





A hedge fund that acquired a major stake in the parent company of the Daily News has drawn the wrath of Sen. Chuck Schumer, who said the acquisition could threaten the newspaper. After Alden Global ...



Ex-Stanhope Capital trio Julien Sevaux, Tarek AbuZayyad and Edward Clive have launched a new private investment office



What’s in the future for alternative investments asset management? A new publication from Ernst & Young, London, contends that allocations to alternative investments and are “robust,” but that there is an important shift underway in favor of private equity and at the expense of hedge funds. In 2018, 40% ofRead More



Laxman Pai, Opalesque Asia: Among the most active investors in US venture capital, seven are pension funds, led once again by San Francisco Employees' Retirement System with 68 known commitments to vintage 2009-2019 funds, says Preqin. San Francisco Employee's Retirement System and Texas County D...


Laxman Pai, Opalesque Asia: ESG in global credit markets is increasingly relevant, according to live polls taken at an ESG conference in London held by Moody 's Investors Service. More than two-thirds of market practitioners regard either assessing financial materiality or meet growing client deman...


Laxman Pai, Opalesque Asia: The Miami-based H.I.G. Capital has wrapped up fundraising for its latest middle-market leveraged-buyout fund - H.I.G. Middle Market LBO Fund III, collecting more than its $3 billion target in barely four months. The fund will make private equity investments in middle-mar...


Laxman Pai, Opalesque Asia: The global hedge fund industry assets under management (AUM) has declined by $19.5 billion as of October 2019 year-to-date, said Eurekahedge. The AUM of the global hedge fund industry stood at $2,272.8 billion as of October 2019. On a year-to-date basis, the industry ha...


From Bloomberg: Hedge funds are ending the year on a high note as their top picks outperform, according to Goldman Sachs Group Inc. "Hedge fund favorites have rallied sharply so far" in the fourth quarter after struggling in the prior period, strategists including Ben Snider and Da...


Hedge fund Two Sigma is getting into private equity From Institutional Investor: Two Sigma, one of the world's largest quantitative hedge fund managers, has raised $1.2 billion for its new private equity unit, Sightway Capital. Sightway reached the final close of its first fund, Sightway Capital ...


From Bloomberg: The U.S. Securities and Exchange Commission is considering letting nonaccredited investors put money into closely held investment pools such as hedge funds, private equity and venture capital. This alone is reason to reconsider the issues of transparency and disclosure by these inves...


Texas County District commits $60m to private equity From PIonline.com: Texas County District Retirement System, Austin, committed $60 million to a buyout fund offered by Cortec Group, a new private equity manager for the $32.1 billion pension fund, a transaction report showed. Investment ...


Hedge funds are buying stocks exposed to US-China trade on hopes for a deal From CNBC: While some investors remain skeptical of a U.S.-China trade deal, the smart money has started to bet on a resolution to the jarring battle that has dragged on for nearly two years. Hedge funds increased thei...


Hedge funds are buying stocks exposed to US-China trade on hopes for a deal From CNBC: While some investors remain skeptical of a U.S.-China trade deal, the smart money has started to bet on a resolution to the jarring battle that has dragged on for nearly two years. Hedge funds increased their al...


Fidelity's head of global private equity to depart From PIonline.com: Andrew Boyd, head of global equity capital markets at Fidelity Investments, is leaving the firm at the end of the year. He is leaving to pursue other professional interests, said Fidelity spokesman Charles Keller in an email. ...


Fidelity's crypto company secures New York state license From Reuters: Fidelity Digital Assets, the cryptocurrency company of Boston-based Fidelity Investments, has been granted a license by New York's financial regulator, the company said on Tuesday. The limited-purpose trust company charter ...


Should investors be fearful of Elizabeth Warren? Some of the most prominent names on Wall Street are queuing up to criticise Democrat presidential frontrunner Elizabeth Warren, saying stocks will suffer heavy falls if the left-leaning candidate's election prospects continue to brighten. Should in...


Europe's ETF industry edges towards $1tn milestone From Financial News: The fast-growing exchange traded fund industry in Europe is on course to reach a milestone $1tn in assets, following another year of bumper inflows for product providers in the region. According to data from data provider ...


The $15bn reason why Asia bond defaults could rise From Bloomberg: From Chinese conglomerates to coal miners in Indonesia, companies in Asia are facing rising financial stress, prompting fears defaults will pick up next year. Weaker regional borrowers with dollar bonds yielding at least 15% co...


Investors pay up to join the private equity rush From FT: The private equity boom has reached a level where investors are paying a premium for stakes in buyout funds managed by the industry's biggest beasts, deploying billions of dollars into a hot market despite a mounting political backlash. ...


Alternatives are ESG weak point for Swedish pension funds From IPE: Pension funds in Sweden are increasing their alternative investments, but the quality of their sustainability management for these investments is poorer than the efforts they are making for traditional asset classes, a new report...


Ten years ago Bain Capital set out to analyse the private equity sector's so-called secret sauce. The $100 billion investor put to work a team of analysts to gather data on deals by the top 25 private equity shops, itself included, hunting for patterns in how they made money. The analysts got a surp...


Carl Icahn placing a big bet against mall owners From WSJ: Investors have lost hundreds of millions of dollars wagering that struggling mall owners won't be able to pay their debts. Those losses haven't deterred Carl Icahn from making the same bet. The billionaire investor stands to gain $400 ...


Ken Griffin invests in real estate tech firm From Chicago Business: Citadel hedge fund founder Ken Griffin has invested with another one-time Chicago entrepreneur who aims to disrupt the residential real estate industry. Griffin was among investors who led a $40 million round of capital raisin...



An immunologist who swapped a career in medical research for finance 10 years ago will begin trading on Dec. 1 via his own hedge fund.Ting Jia’s Octagon Investments fund is set to launch with as much as $300 million of day-one capital, a source said. Jia has hired Goldman Sachs and J.P. Morgan to clear trades. He plans to focus on the stocks of healthcare companies in the U.S., Europe and Asia.Jia began laying the groundwork for the fund...



South Korea’s $29 billion hedge-fund industry just saw its worst withdrawals ever, after its largest fund froze redemptions --> via @markets -



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