CQS Shuts $525 Million Hedge Fund as Narayanan Joins Citadel (Bloomberg)
CQS is shutting considered one of its best-performing methods as a result of the fund’s chief funding officer is leaving to affix Citadel, including to a string of exits from Michael Hintze’s hedge-fund agency. Prakash Narayanan, who ran CQS World Relative Worth, is exiting after greater than three years, in accordance with folks with information of the matter. He’s becoming a member of Citadel’s World Credit score enterprise as a portfolio supervisor to run a method just like the one at CQS, a spokesman for Citadel confirmed.
More Than 50 Hedge Funds have Handed Bill Ackman’s SPAC $818 million to Find a Takeover target. Here are the Top 20 Hedge Fund Backers of Pershing Square Tontine Holdings (Enterprise Insider)
Particular-purpose acquisition corporations are one of many hottest investing traits proper now. SPAC launches greater than tripled in 2020 in comparison with 2019. And roughly 5 SPACs have gone public each buying and selling day this 12 months, in accordance with a latest evaluation by Goldman Sachs. Everybody from retail traders to celebrities and sports activities stars is leaping on the SPACs bandwagon. Hedge funds are betting large on SPACs. Insider lately revealed a listing of the 15 hottest SPACs amongst hedge funds in accordance with Goldman Sachs. Legendary investor Bill Ackman‘s $5.8 billion Pershing Sq. Tontine Holdings (PSTH) took high place within the listing.
U.S. Utility Evergy Adds Directors in New Agreement with Activist Firm Elliot (Reuters)
(Reuters) – Midwestern utility Evergy Inc mentioned on Friday it will title two further administrators to its board as a part of a brand new settlement with activist funding agency Elliott Administration Corp. The announcement commits Evergy to keep up give attention to its Sustainability Transformation Plan (STP) introduced in August, with Elliott agreeing to help administration till the 2022 annual shareholder assembly, in accordance with a press release from Evergy.
Investment Managers Are Adjusting to ESG as a Requirement, Not a Request (Preqin)
Different belongings managed underneath an ESG framework proceed to build up, and at the moment are estimated at 40% of the $14tn business. As ESG momentum gathers tempo, demand is rising for funding managers to show their efforts What can managers count on from purchasers and regulators sooner or later, and the way can ESG investing be improved? Trade specialists Bobby Turner, Precept and CEO of Turner Capital, and Dazzle Bhujwala, Director, Investor Community at Ceres, shared their ideas in Preqin’s Motivating ESG in Alternate options webinar on 28 January.
SA Hedge Fund Manager Peregrine Capital Partners with Prescient Fund Services for First Global Equity UCITS Fund (Hedge Week)
Peregrine Capital (Pty) Ltd (Peregrine Capital) is to start out advertising and marketing its Peregrine Capital World Fairness Fund, which launched on 18 November 2020. The fund, which sits on the Prescient World Funds ICAV platform and is authorised by the Central Financial institution of Eire, will initially be distributed to traders in South Africa, and subsequently to traders in different key European markets.
GameStop Resurgence Reinforces New Reality for Hedge Funds (The Wall Avenue Journal)
Traders have pared again their bearish bets a full month after the GameStop frenzy took off, exhibiting the lasting results of the Reddit-fueled saga on funds that generate profits by shorting. Companies throughout the hedge-fund business unloaded brief positions that acquire when inventory costs fall, after a handful of shares touted on Reddit and different social media platforms surged in January. They feared different shares may expertise the identical meteoric rise.