Citadel Securities Settles With Fund Over Secret Algorithm (Bloomberg)
Citadel Securities reached a truce with a British hedge fund over the attempted hiring of a senior trader, ending a lawsuit that was set to consider the makeup of a secret algorithm. Ken Griffin’s market maker and GSA Capital Partners LLP reached a confidential settlement, GSA said in a statement Thursday. The agreement followed claims that GSA Capital obtained information on a closely-guarded trading strategy when it sought to recruit a former quant researcher, Vedat Cologlu, at Citadel Securities.
Billionaire Chase Coleman’s Tiger Global Struggled in May and its Flagship Fund is Down for the Year After a Stellar 2020 (Business Insider)
While billionaire Chase Coleman has pumped billions into the private markets this year, his flagship public-equity fund is down so far in 2021. The flagship was down 6.3% in May, sources tell Insider, and has lost 0.8% for the year through May. Tiger Global‘s long-only fund lost 3.9% in May, but is up 4.3% for the year.
DeFi Curbs Systemic Risk Amid Bitcoin Volatility, Anthony Scaramucci Tells Hedgeweek (Hedge Week)
Decentralisation of cryptocurrencies is helping curb systemic risk amid the ongoing digital asset price volatility, Anthony Scaramucci, founder and managing partner of SkyBridge Capital, told Hedgeweek on Thursday. In a wide-ranging conversation to close out Hedgeweek’s first DigitalAssetsLIVE event, Scaramucci – who also launched the SkyBridge Alternatives, or SALT, capital introduction conference and was briefly White House Director of Communications during the Trump administration – discussed his firm’s initial entry into the cryptocurrency space, as well as the challenges and the tipping points within digital assets.
Hedge Fund Manager Alan Howard Invests in Two Crypto Startups (Coin Telegraph)
Billionaire hedge fund manager Alan Howard continues backing the cryptocurrency industry with fresh investment in two digital asset startups. The co-founder of major asset manager Brevan Howard led a $25-million extension raise for London-based crypto services firm Copper.co. The company announced Friday that the new investment follows a $50-million Series B funding round led by companies such as Dawn Capital and Target Global.
Getting Back to Business (Preqin)
Abundant capital, shifting behaviors, and a growing focus on ESG are shaping the post-pandemic future for US real estate. It is broadly understood in real estate that each property, building, and investment is unique. This principle drove the performance of the asset class throughout the COVID-19 pandemic, with each property impacted in its own way. The disruption was temporary for most sectors, but for those experiencing pre-pandemic issues, performance will likely worsen over time.