Spinoff Concludes Paulson & Co. Conversion

Paulson & Co. partner Andrew Klaber has spun off from the firm.

Klaber’s Bedford Ridge Capital launched Oct. 1, taking with it some $280 million of assets. And the private equity-focused operation already is setting out to raise additional capital.

For Paulson & Co., the separation completes a transformation into a family office for founder John Paulson. That process began in 2019, marking a dramatic shift for a multi-strategy operation that rose to prominence when it netted some $15 billion on short sales of subprime mortgage bonds during the 2007-2008 financial crisis...

Balyasny Asset Management still busy hiring junior bankers

A few years ago, Balyasny Asset Management was the go-to option for people wanting to leave investment banks. Then it cut around 10 junior traders from its macro trading programme and didn't seem so appealing. However, memories are short and pay is high, and Balyasny is back in vogue. Accordingly, banking juniors are still leaving to work there and Balyasny seems happy to take them onto its long/short equities team.

In London, one of Balyasny's most recent joiners is Sean Nordqvist, a former associate at Goldman Sachs who's covering financials on its long/short equities desk. Nordqvist was formerly on Goldman's FIG M&A team...

Inside the sprawling network of hedge fund spin-offs from Israel Englander’s Millennium Management

One could argue that Millennium Management's greatest advantage over other hedge funds is its ability to keep talented people in-house.

The massive hedge fund — which manages some $46 billion in assets across hundreds of teams — has a unique structure that lets portfolio managers operate in independent silos. The structure, which is grants PMs even more autonomy than fellow multi-strategy funds though with tight risk and loss parameters, helps billionaire founder Israel Englander convince staffers who might leave a more traditional fund to stay in-house — and recruit top talent into his firm...

Hedge Funds Shunned on Principle by $20 Billion ESG Manager

A pension firm in Denmark that has a reputation for enforcing some of Europe’s toughest ethical investing standards says it won’t do business with hedge funds.

Anders Schelde, the chief investment officer of AkademikerPension, says the external allocations the $20 billion investor makes exclude hedge funds because “I don’t think they create the value they say they do.”

Schelde said he sees no point in trying to identify top performers. “The only thing we know for sure is that they want 2/20” and “we don’t want to finance that...”

Hedge fund DE Shaw expands Asia Pacific presence

One of the world’s largest hedge funds, US-based DE Shaw & Co, is set to become the latest hedge fund to open an office in Singapore.

The firm, which has more than $50 billion in investment capital, has applied for a fund management licence from the Singapore central bank.While DE Shaw already has offices in Shanghai and Hong Kong...

Energy hedge fund Westbeck still buoyant after performance pummelling amid “violent” oil sell-off

London-based oil-focused hedge fund Westbeck Capital’s flagship energy strategy suffered its biggest loss this year in last month’s violent market sell-off, shedding 15.2 per cent as its long oil equity positions were sent into a tailspin.

Though September’s loss was the strategy’s third monthly slide in a row, the Westbeck Energy Opportunity Fund remains up 41.7 per cent year-to-date...

Texas Muni hires Balyasny pro ahead of HF portfolio expansion

Veteran Oxbow analyst exits, said to plan own launch

Former Goldman banker preps global macro launch

Ex-Citadel duo appoint Marshall Wace vet as COO