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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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Hedge-Fund Traders Fight BlueCrest’s Michael Platt Over Bonuses

BlueCrest Capital Management is suing two former traders who say they were forced to leave when the hedge fund’s billionaire owner, Michael Platt, described the equity trading business as “crap” and hinted it could close.

The traders, Alex Codrington and Russell Hartley, say they felt they had no future at the firm after an unpleasant meeting with Platt on plans for his fund’s stock trading. They allege in a Nov. 29 filing prepared for a London court case that Platt said the discussion was so depressing that he should have brought the drug Prozac...

Dalio’s Bridgewater Falls Out of Favor at UOB Private Bank

Ray Dalio’s Bridgewater Associates LP, the world’s biggest hedge fund, has fallen out of favor at a Singapore-based private bank that advises some of Asia’s wealthiest people.

UOB Private Bank, a unit of Southeast Asia’s third-largest lender, recommended around mid-year that clients pull their money from Bridgewater, Chief Investment Officer Neo Teng Hwee said.

“The one that has not done really well for us is Bridgewater..."

Bridgewater’s Eileen Murray to Depart, Leaving David McCormick as Sole CEO

Eileen Murray, co-chief executive of Bridgewater Associates, is leaving the $160 billion firm, marking yet another chapter in Ray Dalio’s long-running succession saga.

Murray, 61, will depart at the end of March, she said in a note to colleagues on Tuesday. Her counterpart, David McCormick, 54, will become sole CEO at Bridgewater, which operates the world’s largest hedge fund...

Brevan taps Deutsche rates head

Mark Deniston rejoins $7bn macro hedge fund in London...

Hundreds of Jobs under Threat at GAM

GAM staff are braced for hefty job losses as the Swiss asset manager overhauls its operating model in a bid to cut costs under its new chief executive, according to people familiar with the matter.

Hundreds of roles are at risk at the group, which has $136.1bn under management, as it prepares to amalgamate multiple databases and order management systems on to a single platform...

Deutsche Bank’s head of corporate M&A joined a hedge fund

James Ruane, the global head of corporate M&A at Deutsche Bank, joined a hedge fund.

Ruane has just joined Bayview International in London as head of special situations according to his LinkedIn profile. He arrives after six and a half years in M&A with Deutsche Bank where he was responsible for - among other things - the sale of Deutsche's prime brokerage business to BNP Paribas...

Hedge fund notorious for gutting newspapers gets the Trib board seats it wanted

Tribune Publishing is expanding its board to allow Alden Global Capital to join.

Dana Goldsmith Needleman and Christopher Minnetian are now members of Tribune Publishing's board of directors, effective immediately. Both are affiliated with Alden, the hedge fund that in recent weeks purchased about 32 percent of Tribune Publishing's outstanding shares...

BlackRockStone? China’s Investors Yawn as Major Foreign Hedge Funds Rush In

Three years after China opened its 2.5 trillion yuan ($355 billion) hedge fund market to global asset managers, the industry is discovering just how hard it is to win over the country’s investors.

BlackRock Inc., Man Group Plc and 20 other foreign firms licensed to run Chinese hedge funds -- or private securities funds, as they’re known locally -- amassed around 5.8 billion yuan of assets as a group till August, according to data compiled by Shenzhen PaiPaiWang Investment & Management Co. The meager haul -- amounting to 0.2% of hedge fund assets in China -- reflects a host of challenges...

The Billionaire Hedge Fund Manager With Quantum Ambitions

Every morning at 11:30, hedge fund manager Michael Hintze rallies his troops at the office of CQS in London. Portfolio managers and analysts stand at a podium to offer their assessment of whether they’ll make or lose money because of unfolding global events. Traders in New York and Hong Kong are linked up, and the meeting is broadcast around the firm. More serious matters are handled behind the podium, in CQS’s “situation room.” The walls here are crowded with charts, and screens display anything from a real-time cyberattack unfolding somewhere in the world to Gulf shipping to various Twitter feeds. Another wall has TV channels featuring Al Jazeera, China’s CCTV, and other networks.

In an age of quantitative investing, where billions of dollars are run by black-box algorithms making split-second trades, Hintze’s approach seems almost old-fashioned. So it was a surprise when an interview with him and his lieutenant, Xavier Rolet, the former CEO of London Stock Exchange, turned to quantum computing...

World’s Most Famous Hedge Funds Get Cold Shoulder in China

Three years after China opened its 2.5 trillion yuan ($355 billion) hedge fund market to global asset managers, the industry is discovering just how hard it is to win over the country’s investors.

BlackRock Inc., Man Group Plc and 20 other foreign firms licensed to run Chinese hedge funds -- or private securities funds, as they’re known locally -- amassed around 5.8 billion yuan of assets as a group till August, according to data compiled by Shenzhen PaiPaiWang Investment & Management Co. The meager haul -- amounting to 0.2% of hedge fund assets in China -- reflects a host of challenges.