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FIRM Changes/Developments

‘Not Fun Any More,’ Says Ex-BofA Prop Trader Shutting Hedge Fund

Srinivas Dhulipala helped Bank of America Corp. wager its own money on credit through the global financial crisis. Before that, he handled complex trades at Morgan Stanley, focusing on risky Latin American debt.

But the pain of running a modern credit hedge fund is enough to lead him to close up his shop Kildonan Castle Asset Management and pay out its capital to clients...

Hedge fund to relocate Singapore HQ to London

Singapore based hedge fund Orchard Global Asset Management with $5 billion in assets to relocate HQ to the City of London inspite of Brexit uncertainty, to take advantage of the City's top-class debt markets.

Scaramucci’s SkyBridge Capital to expand on Madison Ave.

The Mooch is moving his office, but not far.

Anthony Scaramucci’s SkyBridge Capital will be relocating and expanding within 527 Madison Ave.

The firm will be leaving 8,102 square feet on the 16th floor for the full fourth-floor high-end prebuilt of 12,500 square feet that had an asking rent of $78 a square foot. The move will happen in March after a few changes are made to the light-filled glass-fronted offices...

Jana liquidates two hedge funds, to focus only on activism

Jana Partners LLC, founded by Barry Rosenstein, is shutting down two stock-picking hedge funds following losses and will focus instead on its main strategy of investing in a handful of companies and pushing management to improve their performance.

The New York-based firm, which managed $11 billion at its peak in 2015, will liquidate its Jana Partners and Jana Nirvana funds, the firm told its investors in a letter seen by Reuters...

A Hedge Fund Known for ‘Milking’ Newspapers Takes Aim at Gannett

A few dozen newspaper employees staged a protest last May outside the New York City office of their owner -- the hedge fund Alden Global Capital. Carrying signs that read “Invest or Sell Now,” the journalists chanted, “Hey Hey, Ho Ho, Alden Global’s got to go!”

Eight months later, Alden Global isn’t gone. In fact, the company wants to expand its newspaper empire even further: On Monday, it made a hostile bid to buy Gannett Co., owner of USA Today and many local newspapers, for $1.36 billion...

Hedge fund wants to buy Sears brands

The head of a sizable hedge fund is eyeing bringing the Kenmore and DieHard brands out of the Sears bankruptcy — but it is not clear if he can pry them away from company honcho Eddie Lampert, The Post has learned.

This hedge fund has signed a confidentiality agreement with Sears to study the brands, according to a fund source who requested anonymity...

Two Sigma Marshals Squadron of Quants in Push to Help Nonprofits

Two Sigma Investments has a yearly contest where employees submit proposals for business ideas, with some picked for a final presentation on Spark Day, when colleagues vote. A win gives the idea a mandate to move forward.

Five years ago, Ben Wellington and some others at the hedge fund firm won with a pitch to marshal the talents of Two Sigma quants on behalf of the social sector in the same way lawyers work pro bono. Since then, 60 employees have volunteered on 15 projects, using data to give insights into incarceration rates for the Vera Institute of Justice, engaging visitors at the New York Hall of Science and job-training efforts for the Hope Program...

Alan Howard’s 30% Gain Marks Redemption for Macro Hedge Funds

For years macro hedge funds have been the bane of the industry. Now they are a boon.

Billionaires Paul Tudor Jones and Alan Howard both suffered losses in 2017 in their main macro funds as they struggled to pull out of a deep funk. They finally did it in 2018: Jones’s BVI Global fund, his biggest, was up 10.3 percent, according to people familiar with the matter. The Brevan Howard Master Fund rose 12.3 percent, and the pool Howard manages himself jumped 30 percent, according to people with knowledge of the firm...

Why Canterbury Is Starting a Fund of Hedge Funds

Canterbury Consulting is setting up a fund of hedge funds for its clients, signaling that appetite remains for an area of asset management that has struggled to attract investors over the past decade.

The consultant announced Friday that it is working with EnTrustPermal to launch a bespoke pool of hedge funds next month...