Multi-Manager Push Gains Momentum

Two former Lighthouse Investment executives are nearing the launch of a novel multi-manager program that has been more than two years in the making.

Indications are that John FitzGibbon and Barry Timmins will start trading through their Alpha Paradigm Partners this year. While it’s unclear how much capital the Chicago operation will be running on day one, a source said its commitment pipeline grew at Context Summits’ “Miami 2020” conference on Jan. 29-31 in Miami Beach...

Massive UK Pension to Cut Its External Hedge Fund Portfolio in Half

The UK’s largest private pension fund, the Universities Superannuation Scheme, plans to cut its external hedge fund holdings by 50%, said investment chief Simon Pilcher, according to a report from Bloomberg.

The pension’s rationale is credited to disappointing performance executed by its hedge fund managers, following a huge pattern where investors around the world redeemed nearly $100 billion from hedge funds in 2019...

Former star Citi trader Anil Prasad to shut down his hedge fund

Former foreign-exchange heavyweight Anil Prasad will shut down Silver Ridge, his macro hedge fund, The Financial Times reported Wednesday.

Prasad, who was the global head of currencies at Citigroup before opening Silver Ridge Asset Management in 2014, is in the process of returning funds to investors, The Financial Times reported, citing people familiar with the matter.

Artemis appoints ex-GAM’s head of investments as its new CIO

Artemis Investment Management has poached former GAM's head of investments Matthew Beesley as chief investment officer (CIO).

Beesley, who will be joining the firm on 20 April 2020,  will be replacing Peter Saacke, who is stepping back to focus on the management of the firm's range of three global equity funds...

Tiny Korean Hedge Fund Hits Jackpot With ‘Parasite’ Deal

For a tiny South Korean hedge fund, the shock Oscar win of dark comedy “Parasite” couldn’t be better news.

The fund, run by Seoul-based Ryukyung PSG Asset Management Inc., has invested around $500,000 in the movie that became the first foreign-language film in history to win the coveted Oscar for best picture. “Parasite” cost $11 million to make and has raked in $165 million so far, and ticket sales are set to climb even more after the award...

Hedge Fund Co-Founder Returns to London From New York

The co-founder of Glen Point Capital, a hedge fund that raised money from billionaire investor George Soros, has relocated back to London from New York in the wake of a tough period for the emerging markets-focused manager.

Jonathan Fayman, Glen Point’s co-chief investment officer and a former senior fund manager at BlueBay Asset Management, moved to the US a couple of years ago but moved back to the hedge fund’s London office late last year...

Blackstone to Invest in Engineers Gate After Founder Dubin Exits

Blackstone Group Inc. will replace Canada’s biggest pension plan as the anchor investor in hedge fund Engineers Gate, whose founder Glenn Dubin retired from the firm last month.

Blackstone’s investment will take the entire slice of the fund that was held by the Canada Pension Plan Investment Board, accounting for the majority of the firm’s $1 billion in assets, according to people familiar with the matter. The pension is withdrawing its holdings after scrutinizing the hedge fund because of poor performance and Dubin’s ties to convicted pedophile Jeffrey Epstein, said the people, who asked not to be named because the matter is private...

ExodusPoint’s latest hire is a veteran U.S. credit trader from Citi

Michael Gelband is still hiring at ExodusPoint Capital Management in New York. In the past two months he's hired at least four new portfolio managers, including Roman Shukhman, a veteran credit trader most recently at Citi.

Shukhman joined ExodusPoint's New York office this month, according to his LinkedIn profile. He previously spent nearly three years as a managing director in credit index trading at Citi and nearly 15 years at JPMorgan...

The Mormon Church Amassed $100 Billion. It Was the Best-Kept Secret in the Investment World.

For more than half a century, the Mormon Church quietly built one of the world’s largest investment funds. Almost no one outside the church knew about it.

Some of that mystery evaporated late last year when a former employee revealed in a whistleblower complaint with the Internal Revenue Service that the fund, called Ensign...