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News

We aggregate on a daily basis the most relevant news related to hedge funds/alternative investment firms and people moves.

China to scrap foreign ownership caps for fund companies from April

China’s securities regulator has announced it will abolish limits on foreign ownership of fund management companies in the country starting from April 2020.

Following cross-departmental studies and research, the China Securities Regulatory Commission announced the timetable on Friday...

Blackstone Talked With Ken Griffin’s Citadel About Buying Stake

Blackstone Group Inc. has held talks to buy a stake in Ken Griffin’s Citadel LLC, a deal that would unite two of the biggest names in investing.

Blackstone has discussed an investment in both Citadel’s flagship hedge-fund firm and its lower-profile but fast-growing securities-trading operation, said people familiar with the matter. These people described the talks in recent months as occasionally contentious and not certain to result in a deal...

Point72’s Head of Global Macro Sara Vavra Leaves Hedge Fund

Sara Vavra, the head of global macro at Steve Cohen’s Point72 Asset Management, has left the firm after about two years, according to people familiar with the matter.

Vavra was among the most senior female executives at the firm. She joined the $15 billion hedge fund in 2017 from Laurion Capital Management and departed earlier this week, said the people, who asked not to be named. Jae Ho Kim will fill the position while a permanent replacement is found...

Jupiter Suffers Outflows After Loss of Star Stockpicker

Jupiter Asset Management had outflows of £1.1bn from its European Growth fund in the third quarter, after its manager, the star stockpicker Alex Darwall, announced his departure.

Mr Darwall is leaving Jupiter to set up his own business in November. Earlier in the year the group announced he would no longer manage the European Growth fund...

Man Group Outflows Accelerate on Equity Strategies Retreat

Outflows from Man Group Plc’s money pools accelerated in the third quarter as the world’s biggest publicly traded hedge fund firm suffered from an industry-wide exodus of capital.

Clients pulled $1.1 billion, the same amount they withdrew in all of the first half, the London-listed money manager said in a statement on Friday. The outflows were mainly concentrated in long only equity money pools...

Merian Global Investors to acquire Kestrel multi-asset business

Merian Global Investors (MGI) has today announced that it has signed an agreement to acquire the top-performing multi-asset business from Kestrel Investment Partners¹.

As part of the deal, which is expected to complete in December 2019 (subject to regulatory and shareholder approval), the entire Kestrel multi-asset team will join MGI, including head of desk and lead fund manager John Ricciardi. He will report to MGI’s CEO, Mark Gregory. John is joint CEO of Kestrel, a business he co-founded with the partners of Kestrel Partners LLP in 2011. He has over three decades of multi-asset investing experience, including six years as global head of asset allocation for Alliance Bernstein...

Pimco Lawyer Files Gender and Race Discrimination Suit

A Pimco lawyer has filed a gender and racial discrimination lawsuit against the $1.8tn asset manager, alleging she was passed over for promotions and denied career opportunities after becoming pregnant.

Andrea Martin Inokon, who is African-American, claimed in a complaint filed on September 24 in a California superior court that Pimco operated as a “fraternity in a perversely literal sense...”