HFObserver aggregates on a daily basis the most relevant news related to hedge funds/alternative investment firms and people moves.
Here is our news from approximately the last week.
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Goldman Sachs’ prime-brokerage unit is developing an electronic capital-introduction service that could become a model for the bank’s rivals.
The project, called Marquee Connect, was conceived of before the coronavirus pandemic but accelerated as the outbreak halted travel and in-person meetings over the past four months. A beta version currently is in testing with a small number of investors, with a formal rollout expected in the next month or so.
Marquee Connect aims to allow investors that work with Goldman to discover the full range of hedge funds...
After years of losing both clients and clout in financial markets, signs are emerging that hedge funds are back in favor in the U.S.
In the past few months, investors such as George Soros’s family office and the Texas pension fund have been plowing cash into hedge funds in an effort to diversify their assets after stock markets rebounded much more sharply from the coronavirus-stoked sell-off than anticipated.
Some well-known fund managers, sensing the moment, began accepting new capital for the first time in years, including D.E. Shaw & Co. and Seth Klarman’s Baupost Group...
Just over a decade after John Paulson shot to fame and fortune, he’s become the latest big-name money manager to quit the hedge-fund business, saying this week he’s converting his firm into a family office.
Paulson never managed to sustain the success and notoriety he found by betting against the housing market in the run up to the last financial crisis. Now, in the midst of an another period of economic turmoil, he’s returning outside investors’ money to focus on his own fortune, which the Bloomberg Billionaires Index puts at $4.4 billion...
Jim Barry is in fighting spirits even as the ferocious market rebound drains his pool of cheap investable assets.
The chief investment officer at BlackRock Inc.’s alternative investment unit is looking to deploy some of his $23 billion cash war chest on companies laid low by the pandemic. He’s sizing up new opportunities in distressed real estate, and private debt and equity.
While the market rebound is enriching corporate valuations, the economic carnage the world over is creating all manner of cross-asset prizes, Barry said in an interview...
Eileen Murray, the former co-chief executive of the world’s largest hedge fund, will take over as chairperson of Finra, Wall Street’s self-regulatory arm.
Ms. Murray, 62 years old, was one of the investment industry’s highest-ranking female executives as co-CEO of Bridgewater Associates LP. In December, Bridgewater said Ms. Murray would step down as co-chief executive in March. She had shared the top job at Bridgewater with David McCormick since 2017...
Tribune Publishing Co. is in talks to add the co-founder of Alden Global Capital LLC to its board as part of an agreement that would prevent the hedge fund from making a hostile bid to buy the rest of the newspaper company in the near future, according to people familiar with the matter.
Randall Smith, who runs Alden alongside Heath Freeman, is in talks to join the board, the people said. The deal would also extend a standstill agreement between Tribune and Alden that expires Tuesday. The length of the extension being discussed...
The UK’s financial regulator is probing H2O Asset Management’s sale of illiquid bonds and stocks back to controversial German financier Lars Windhorst, adding to the heightened scrutiny of transactions in obscure securities at a former star of the European investment industry.
The Financial Conduct Authority last week confirmed that it was “in active discussions” with H2O over the asset sales...
Hedge fund King Street Capital Management has fallen foul of the slew of asset downgrades hitting CLO portfolios amid the coronavirus outbreak.
The firm, which issues CLOs through its Rockwood Capital portfolio manager division, failed a portfolio test on its second European CLO at a key date in the transaction’s cycle, known as the effective date. In doing so, it is the first European CLO rated by Moody’s Investors Service to fail to meet all the portfolio requirements at this milestone...
Founder Nick Taylor and team are joining Citadel as first PM hires in Asia for Surveyor Capital group...
FIRM Changes/Developments, FIRM Hiring/Promotions/Departures, Open
Steve Waugh joins in New York offices as multi-manager joins Billion Dollar Club
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