Billionaire Rokos’s Hedge Fund Nears Full 2023 Recovery After Gain in June (Bloomberg)
Billionaire Chris Rokos’s macro hedge fund posted a 4.6% gain in June, helping the fund claw back losses from earlier in the year when it was pummeled by wild swings in interest rate markets. The money pool, which runs more than $14 billion in assets, is now only slightly down for the year after also gaining about 5% in May, according to a letter to investors seen by Bloomberg. Macro hedge fund peers tracked by Bloomberg gained 1% on average in June.
The San Diego Union-Tribune sold to Alden Global Capital (SanDiegoUnionTribune.com)
Alden Global Capital is the parent company of MediaNews Group, which runs the Southern California News Group papers, among them the Orange County Register, Los Angeles Daily News, Riverside Press-Enterprise. Los Angeles billionaire Dr. Patrick Soon-Shiong has sold The San Diego Union-Tribune to an affiliate of the MediaNews Group for an undisclosed amount, it was announced on Monday. Denver-based MediaNews Group is owned by Alden Global Capital, which owns roughly 200 publications, including the Chicago Tribune.
Carl Icahn Gets Breathing Room From Lenders Following Short-Seller Attack (The Wall Street Journal)
Deal unties his personal loans from the trading price of Icahn Enterprises. For two months, legendary activist investor Carl Icahn has been on the defensive after a short-seller attack sent shares in his investment company down roughly 40%, raising alarms at a handful of major banks that had lent him money as the value of their collateral fell.
Maxx-Studio/Shutterstock.com
Exploring Hedge Fund Investment Strategies (DataDrivenInvestor)
Hedge funds are known for their ability to generate attractive returns through their diverse investment strategies. Let’s take a closer look at some prominent hedge funds and the strategies they employ to navigate the ever-changing financial markets. Event-Driven Strategy: Bridgewater Associates, Tudor Investments, Caxton Associates: Event-driven hedge funds capitalize on corporate events like mergers, acquisitions, bankruptcies, or restructurings. By identifying price discrepancies before and after such events, these funds seek to profit from market inefficiencies.
Winding-Up Private Lender Receives Another Blow (Hedge Nordic)
Stockholm (HedgeNordic) – Both borrowers and lenders are facing challenging market conditions and economic headwinds from high inflation, rising interest rates, and slowing global economic growth. Private credit investors, in particular, face additional obstacles due to the lack of transparency surrounding financial performance and credit risk. After announcing its wind-down in May, Scandinavian Credit Fund I experienced a significant decline in its net asset value in June due to higher interest rates and changed market conditions affecting two of its borrowers.
