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FIRM Changes/Developments

Steve Cohen’s Point72 loses long-time hedge fund managers

About 20 portfolio managers have left Steven A. Cohen’s hedge fund firm this year, including several who worked with Cohen for more than a decade, according to people familiar with the matter.

It is an unusual level of turnover for Cohen’s firm and marks the latest developments in the rocky relaunch of his fund. The 63-year-old billionaire investor launched Point72 Asset Management last year after an insider-trading scandal barred him from managing outside money until 2018.

Another Equity Manager Throws in the Towel

Kane Street Capital has ceased operations after nearly 10 years of trading.

The New York equity manager finished returning most, if not all, limited-partner capital in June. It had about $150 million of assets, on a gross basis, at yearend 2018...

Melbourne hedge fund freezes redemptions, changes strategy

The dreaded "f-word" has hit investors in a hedge fund run by Melbourne-based firm Newgate Capital Partners.

It is understood Newgate has frozen redemptions on its flagship Newgate Absolute Return Fund which was set up in 2016 and is invested in local stocks in accordance with its long/short strategy...

Some hedge funds are paying their interns massive salaries

If you're a student with an interest in finance who wants to make some serious money this summer, it seems you should have been interning at a hedge fund. So says Wall Street Oasis's updated report on hedge fund intern pay.

While Wall Street banks pay a 'mere' $82k max (pro-rated) for a couple of months over the summer, some of the best known hedge funds are paying six figures, and more...

Hedge Fund Execs Convicted of Fraud

Anilesh Ahuja, the founder, chief executive, and chief investment officer of hedge fund Premium Point Investments, and former Premium Point trader Jeremy Shor were convicted on Thursday of charges that they fraudulently inflated the value of investments by more than $100 million.

Authorities arrested Ahuja and Shor last May, along with portfolio manager Amin Majidi...

Tudor Capital cut some London admin staff and profits recovered

If only life were this easy: after a miserable year in 2017-2018, hedge fund Tudor Capital Europe trimmed a few admin staff and suddenly everything's fine again. In the year to March 2019, profits rose 233% to $49m. They're still not back up to the $68m level they were at before the miserable year took place, but they're getting there...