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FIRM Changes/Developments

Pretium Completes Acquisition of Deephaven Mortgage from Värde Partners

Pretium and Värde Partners today confirmed the completion of their previously announced agreement for Pretium to acquire Deephaven Mortgage LLC (“Deephaven”) from Värde Partners.

Founded in 2012, Deephaven is a leader in the Non-Qualified Mortgage industry. The Company partnered with Värde in 2014 to help fund its growth and expansion, and has since invested in over $5 billion of Non-QM loans to become one of the leading issuers of Non-QM loan securitizations...

Paamco Prisma sees $8bn H1 asset drop

FoHF group refocuses business towards direct trading and discretionary services...

Arrowgrass hit with $7.2m lawsuit from ex-US head

Michael Edwards accuses closing HF of 'questionable practices'...

U.S. hedge fund dispute with South Korea heads to arbitration

An international arbitration panel will hold hearings next month in the United States in a case filed by two New York-based hedge funds against the South Korean government over a 2015 Samsung merger.

Mason Capital LP and Mason Management LLC filed suits in 2018 at both the Hague-based Permanent Court of Arbitration (PCA)...

Crispin Odey Opens His Hottest Hedge Fund to External Clients

Crispin Odey, whose main fund has seen excruciating losses and spectacular gains, is opening up his firm’s best performing money pool to external investors.

The Odey Concentrated Natural Resources fund, managed by Henry Steel, has gained 32% since inception in March through the end of August, according to an investor update seen by Bloomberg. The MSCI Natural Resources index lost 7.7% during the period...

Hedge funds count losses from emerging markets sell-off

Robert Citrone’s Discovery Capital Management and Guillaume Fonkenell’s Pharo Management were among the big-name hedge funds that suffered losses during last month’s tumble in emerging markets.

Worries about the US-China trade war and the health of the global economy, as well as a debt crisis in Argentina triggered by President Mauricio Macri’s shock primary election defeat, helped drive a sharp sell-off in EM assets during August as investors ran for cover.

Hedge Fund Arrowgrass to Shutter After Wave of Redemptions

Arrowgrass Capital Partners, the hedge fund started by a group of former Deutsche Bank AG traders, plans to shut after getting hit with a fresh round of investor redemptions.

The 11-year-old firm, which employs more than 100 people in London and New York, will return capital and close, according to an investor letter seen by Bloomberg. Its assets had already slumped by half from the $6.4 billion it managed in 2017 before it received requests to withdraw another billion, according to people with knowledge of the situation...

Carl Icahn moving hedge fund to Miami, whether his workers like it or not

Billionaire investor Carl Icahn is moving to Miami next year — and his employees who don’t like it will be let go without any severance, The Post has learned.

Icahn quietly informed the staff of his publicly traded Icahn Enterprises that he’ll be shuttering its offices in New York City and White Plains on March 31, and immediately re-opening in Florida’s Magic City the next day...

Carl Icahn moving hedge fund to Miami, whether his workers like it or not

Billionaire investor Carl Icahn is moving to Miami next year — and his employees who don’t like it will be let go without any severance, The Post has learned.

Icahn quietly informed the staff of his publicly traded Icahn Enterprises that he’ll be shuttering its offices in New York City and White Plains on March 31, and immediately re-opening in Florida’s Magic City the next day...

Cargill Exits Asset Management Business with Sale of CarVal Investors

Cargill Inc [CARGIL.UL] has agreed to sell fund manager CarVal Investors, representatives for both companies said on Thursday, marking the commodity trader’s exit from the asset management business.

The sale is the latest transition for Cargill, the largest privately held U.S. company, which overhauled its corporate structure in recent years following a string of disappointing results...