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Two Sigma Investments is promoting Geoffrey Duncombe, managing director and chief investment officer, and Carter Lyons, managing director and director of investor relations, to co-heads of Two Sigma Advisers, the business unit that manages most of the firm’s assets, effective Jan. 1.
The duo will retain their current roles while adding oversight of Two Sigma Advisers’ investment management activities to Mr. Duncombe and all business activities to Mr. Carter, said a source who had Two Sigma's letter to clients about the executive changes and asked not to be named...
A statistical-arbitrage manager with a history of strong returns is setting up a vehicle that would employ the higher-capacity strategies of its flagship fund.
BlackBox Group is calling the new offering Unlimited Alpha. It would invest alongside the existing BlackBox Master Fund in pairs trades involving long and short positions in closely related stocks — say, the Class-A and -B shares of a single company.
BlackBox has yet to set a launch date for the new fund...
Bernard Madoff’s sordid legacy remains the stuff of headlines. But his fraudulent scheme altered -- and transformed -- the hedge fund industry.
As fund lawyer Steven Nadel at Seward & Kissel LLP put it in a recent interview: “Madoff was a huge wake up call for the entire asset management industry.”
A hedge fund run by former executives of Lehman Brothers reportedly plans to close down after devastating client withdrawals.
New York-based River Birch Capital, co-founded by former Lehman President and Chief Operating Officer Bart McDade, is returning client capital after losing a key investor, Bloomberg reported, citing sources. McDade was president of Lehman when it filed for bankruptcy in September 2008...
Steve Sinton, a rancher, was baffled when a company he’d never heard of began buying large tracts of agricultural land near his pastures at above-market prices. The firm, Brodiaea Inc., over a few months in 2012 acquired more than three square miles of a flat-bottomed valley.
“It was surprising, the prices they were willing to pay,” says Mr. Sinton, a partner in a family-owned ranch that raises cattle and grows grapes. A conventional agricultural business’s returns couldn’t have justified those prices. “It didn’t make sense to me.”..
If you're a quantitative analyst who's looking for an opportunity of reinventing yourself as something in data science, you might want to adopt Samuel Livingstone as your role model. Livingstone was once a lowly quant analyst. Now he's head of data science at Jupiter Asset Management (as of this month.)
Livingstone's big new role follows a four month period of gardening leave after he left Citadel and served out one of the hedge fund's non-competes...
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