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FIRM Changes/Developments

Energy Investor HITE Dangles No-Fee Offer

Energy-focused HITE Hedge Asset Management is offering the ultimate fee discount for its latest hedge fund.

Investors whose contributions are among the first $25 million received by the HITE Carbon Offset fund would pay no management or performance fees for five years. Those who remain invested after that point would pay fees equal to 1% of assets and 20% of profits...

How to get the most interesting jobs at hedge fund Point72

If you aspire to get a job at Point72 in 2019, you might need to change your approach. Jonathan Jones, head of investment talent development at Point72, is transitioning out of the firm, so you probably don't want to send your application in there more. You can still apply through the Academy for junior roles. Or, you can hit-up Matthew Granade, Point72's chief market intelligence officer. Granade oversees one of Point72's most interesting areas. And he's hiring...

Embattled City Financial shutters Asia hedge fund

Strategy run by ex-Highbridge Capital portfolio manager Richard Chu lost 4% last year

The post Embattled City Financial shutters Asia hedge fund appeared first on HFM Week.

Arki Busson Cuts Staff and Gives Up Swiss Mutual Fund Licence

The investment company run by flamboyant hedge fund manager Arpad “Arki” Busson has relinquished its mutual fund licence in Switzerland and sacked key staff as the money manager battles multi-million dollar losses.

LumX, which has racked up losses of more than $37m in three-and-a-half years, has “terminated” its collective investment business in Switzerland and handed its permit to run money back to the Swiss regulator...

Brookfield-Oaktree tie-up creates alternatives giant

Brookfield Asset Management's acquisition of credit manager Oaktree could be a boon for Oaktree, which saw its assets under management dip in 2018 and struggled under the yoke of being a publicly traded company.

When the acquisition is complete, Toronto-based Brookfield will be among the largest alternative money managers in the world, with total assets under management of about $475 billion...

Rubicon Said to Shutter Flagship Hedge Fund After Two Decades

Rubicon Fund Management plans to shut its flagship hedge fund after two decades, joining a growing list of money managers that are throwing in the towel, according to people with knowledge of the matter.

The firm, one of the oldest hedge funds in London, will close its macro Rubicon Global Fund, said the people, who asked not to be identified as the plans are private. The fund fell 3.3 percent in January, according to a letter to investors seen by Bloomberg. The Financial Times reported the closure earlier...

At Hedge Fund That Owns Trump Secrets, Clashes and Odd Math

The threat was blunt: Back off, or there will be trouble.

The 2016 presidential campaign had just ended, and Michael Cohen was fresh off handling hush money for Donald Trump. Now he was working on behalf of Chatham Asset Management, a $4.3 billion hedge fund that owns the National Enquirer...

David Harding Rewrites Winton Hedge Fund Playbook in Search of Returns

David Harding was a hedge fund pioneer whose quantitative models generated double-digit returns for decades. Today, he’s in the unusual position of having to reinvent his business all over again.

The algorithms he built don’t work so well anymore...

City Financial transfers Japan-focused funds to Quaero

The Akamatsu and Akamatsu Bonsai strategies invest in Japanese small-caps...

Billionaire says Amazon exit dampened his interest in moving hedge fund to NYC

Billionaire Ken Griffin said he’s less likely to move Citadel’s headquarters to New York City in the wake of Amazon's decision to abandon plans to expand into Queens.

“Amazon opting out of New York is heartbreaking,” Griffin said Thursday in an interview with David Rubenstein on Bloomberg Television. The hedge fund manager said he was contemplating shifting his main office from Chicago and making New York his primary home when he purchased a penthouse for $238 million in January...