Brevan Howard and DRW Invest in Edge Focus to Fuel Major Expansion Into Fintech Lending Space

Edge Focus, a technology company that applies machine learning and artificial intelligence to analyze credit, has entered into a strategic partnership with prominent hedge fund Brevan Howard and global quantitative trading firm DRW.

“I cannot think of two better complementary partners to enable us to accomplish our ambitious goals while using our technology to lower the cost of capital for millions of borrowers,” said Elliott Lorenz, co-founder and CEO of Edge Focus.

“We are delighted to partner with Edge Focus, whom we view as an exciting and innovative manager in the field of consumer credit,” said Aron Landy, CEO of Brevan Howard...

Top hedge fund manager banned over ‘market manipulation’

A one-time high-flying manager at one of the country’s best hedge funds has been banned by the corporate watchdog after an investigation found he had engaged in market manipulation.

Regal Funds Management’s former dealer and portfolio manager Dylan Rands will be stopped from providing financial services for five years after the Australian Securities and Investments Commission (ASIC) found more than 100 suspicious trades...

Pay rose at hedge fund Tudor Capital Europe as profits soared

Last year may have been a tough one at quantitative hedge fund AQR Capital Management in London, but not all hedge funds had an equally terrible time. Tudor Capital Europe has just released its results for the year ending March 2021, and pay and profits last year rose considerably.

In the 12 months to March, turnover at Tudor went to $175m, up from $92m a year earlier. Operating profits went from $45m to $82m and profits available for distribution among Tudor's members (partners) rose correspondingly from $44m to $79m...

John, Jenny Paulson to divorce in latest billionaire split

John and Jenny Paulson are divorcing after more than 20 years of marriage, the latest split involving a billionaire family that’s set to reshape one of the world’s largest self-made fortunes.

The case has been filed in Suffolk County, NY, with John Paulson represented by William D. Zabel. The New York Post, which reported on the split earlier, said there’s no pre-nuptial agreement, citing an unidentified person it didn’t identify.

John Paulson, 65, has a net worth of $4.8 billion...

Man GLG Unveils New Global Sustainability-focused Long/short Hedge Fund

Man GLG, the discretionary investing unit of London-listed global alternative investment giant Man Group, has launched a new sustainability-focused long/short equity hedge fund which will trade across regions and sectors with a positive ESG bias.

The Man GLG RI Global Sustainable Growth Alternative UCITS strategy – which is classified as an Article 8 product under the EU’s Sustainable Finance Disclosures Regulation (SFDR) – is targeting absolute returns. It takes a positive ESG bias in global markets, combining a high-conviction long portfolio of 25-45 stocks with a short book designed to hedge market and factor risk. The short portfolio also aims to boost the alpha generation of the long positions...

StackLine onboards IR head

StackLine Partners has hired a head of marketing and investor relations.

The emerging long/short equity firm added ex-Gladstone Capital Management investor relations and marketing executive Tom Wade this month.

Wade spent 19 months with Gladstone after joining in early 2020. Before that, he was a partner and director of marketing and investor relations at Palestra Capital Management for almost seven years. Prior to that, he was a vice president of marketing and investor relations at Seligman Investments, now an internal unit of Columbia Threadneedle...

Profits plummeted at hedge fund AQR in London, pay did not

Quant fund AQR Capital Management (Europe) LLP has release results for its U.K.-based operation for 2020. They're not entirely pretty.

AQR Capital Management (Europe) ('AQR') cut staff last year in response to plummeting profits. However, the staff that remained were paid, on average, similarly to the year before.

Profits at AQR's London office fell from £8.1m in 2019 to £4.1m in 2020. In response, the fund cut headcount from 48 to 42 people...

Allianz Asset-Management Head Jacqueline Hunt in Talks to Depart

Allianz SE ’s top asset-management executive is in talks to leave the company, according to people familiar with the matter, as it navigates a Justice Department probe into a group of investment funds that suffered steep losses last year.

Jacqueline Hunt joined Allianz in 2016 to oversee its asset management and U.S. life insurance businesses, which include investment arms Allianz Global Investors and Pacific Investment Management Co. Her contract was renewed in 2019 and was due to expire in 2022. Instead, Ms. Hunt will likely leave earlier than planned, the people said...

Hedge Fund Element Hires Former MPC member Gertjan Vlieghe

New York-based hedge fund Element Capital has hired Gertjan Vlieghe, who until last month was a member of the Bank of England’s rate-setting Monetary Policy Committee, as its chief economist.

Element, which with $15bn in assets is one of the world’s biggest macro hedge funds, made the appointment to further strengthen its macroeconomic research, said a person familiar with the move...

AQR Hedge Fund Suffers $10bn in Outflows

Assets in a hedge fund run by AQR have tumbled more than $10bn over the past four years, as a lengthy period of poor returns has persuaded many clients to pull out their cash.

The AQR Managed Futures Strategy fund, a computer-driven mutual fund that tries to profit from market trends, has fallen in size from about $12bn in late 2017 to $1.5bn currently, according to fund documents. While the fund’s bets have often lost money in recent years, most of the drop in assets pertains to client withdrawals...