Melvin Capital to Close Funds, Return Cash to Investors

Melvin Capital plans to close its funds and return the cash to its investors, capping a stunning reversal for a firm that lost big on the surge in meme stocks last year and on wagers on growth stocks this year.

In a letter to investors that was reviewed by The Wall Street Journal, Gabe Plotkin, Melvin’s founder, wrote that he reached his decision after conferring with Melvin’s board of directors during a monthslong process of reassessing his business...

Hedge Fund Myriad Asset Is Quitting Hong Kong After 11 Years

Carl Huttenlocher’s hedge fund firm Myriad Asset Management Ltd. plans to shut its office in Hong Kong, the city where it was founded and based for much of its 11 years, said a person with knowledge of the matter.

Myriad made the decision after pandemic-induced curbs made it difficult for Huttenlocher and his portfolio managers to travel...

This $36 Million Manhattan Penthouse Includes an Extremely Rare Find: A Private Rooftop Pool

A Manhattan penthouse with a private rooftop swimming pool and hot tub is coming on the market for $36 million.

The sellers are hedge-fund manager Teddy Kang and his wife, Elise Kang. The couple paid $16.76 million in 2017 for three floors at 55 West 17th Street in the Flatiron District. Before the completion of the roughly 50-unit condo tower, the Kangs worked with developer Toll Brothers City Living to assemble a three-floor unit, expanding the pool to more than 20 feet long. Two and a half floors were combined to create the 6-bedroom penthouse, and the couple kept half of the remaining floor as a rental unit. It is not included in the listing...

Disgraced hedge fund tycoon Phil Falcone raising money for crypto TV network

Phil Falcone is angling to profit from TV coverage of crypto assets — an oddball bid to reverse a decade-long slide from being a billionaire to pleading that he’s broke.

The fallen hedge fund star — who amassed a $2 billion fortune from shorting the housing market before squandering the riches over the past 10 years — is actively pitching investors on something called Blockchain.TV, The Post has learned...

Hedge fund Millennium’s hiring revealed in investor letter

Millennium, the multi-strategy hedge fund run by Izzy Englander, is still on a hiring drive. The fund's recent investor letter, issued in February 2022 but with many details unreported until now, reveals that last year was another year of growth.

Millennium came out of 2021 with 287 investor teams (formerly known as "pods") said Englander, up from 268 at the end of 2020...

Quant Trader Vogel Shuts Two Climate Hedge Funds After Brief Run

Quant trader David Vogel is closing two sustainable hedge funds after a short run.

Investors in his Voloridge Climate Change and Sustainability funds were told this week that the money would move into the firm’s main pool, according to a person with knowledge of the matter. The funds accounted for about 15% of Voloridge Investment Management’s $9.5 billion in total assets, the person said.

Elliott to Close Tokyo Office and Shift Asia Investing to London

US hedge fund Elliott Management plans to shut its office in Tokyo, its last remaining outpost in Asia, as it continues to shift responsibility for investments in the region to London.

The Florida-based activist group, which was founded by billionaire Paul Singer and manages about $52bn in assets, has decided to close the Tokyo office despite being an active investor in Japan, where it has in recent years built stakes in prominent targets such as technology giant SoftBank and conglomerate Toshiba...