Activist Fund Barington Pushes for Change at Chico’s, Again (Reuters)
Activist investor Barington Capital Group on Monday urged Chico’s FAS (CHS.N) to explore strategic options for its brands and said the apparel chain’s board should add new members to help improve its lagging stock price. The New York-based hedge fund, which first pushed for changes at the clothing company five years ago, said it wants to see directors with experience in digital commerce, merchandising and marketing and women’s fashion specialty retail.
Two Sigma Hedge Fund Hot New Mover and Shaker in NYC (The Madison Leader Gazette)
Technology-driven hedge fund Two Sigma is in the market for a major space expansion and consolidation that could be worth a fortune to a number of Manhattan landlords. Although it’s rarely in the press, the international, privately held firm boasts $58 billion in assets under management. It’s currently headquartered in a mini-campus at 100 and 101 Sixth Ave. in Tribeca, according to its Web site.
Ex Millennium and LMR Partners Portfolio Manager Launches R Squared Global Fund (Hedge Week)
Gordian Capital has launched the R Squared Global fund, managed by William Warner and Justin Leow. The Fund invests in liquid derivative instruments, using quantitative models to arbitrage systematic and structural inefficiencies in the market with strategies not commonly implemented by hedge funds. The offering is scalable to USD1 billion given the highly liquid nature of the underlying portfolio. With its unique strategies, the Fund is expected to target a high Sharpe ratio, low volatility and low correlation to the broader equity markets and other funds, based on Warner’s prior trading experience.
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Bitcoin, Gold Are Likely to Withstand Fed Taper, SkyBridge Capital Says (Coin Desk)
Fiat-currency alternatives like bitcoin (BTC) and gold are likely to remain resilient even if the U.S. Federal Reserve curtails its liquidity-boosting quantitative easing (QE) program, according to SkyBridge Capital, a $7.5 billion hedge fund. “All fiat-currency alternatives – which have all gone through fairly recent substantial corrections – are in a much better place now to handle that eventual taper and gradual slowing of money-supply growth than they were as they were making higher-highs after higher-highs,” Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital, told Bloomberg last week.
A $20 Billion Hedge Fund from New York is Signing a 10-Year Lease in Coconut Grove (Miami Herald)
Yet more financial firms are coming to Miami. The latest: D1 Capital Partners, a $20 billion hedge fund that has signed a 10-year lease for 25,000 square feet within Related Group’s newly completed 2850 Tigertail art-filled office building in Coconut Grove. D1’s arrival represents another out-of-state financial giant betting on Miami by putting an office there. It follows Blackstone, Thoma Bravo and New York Mets owner Steve Cohen’s Point72 among firms opting for a Miami presence.
