Billionaire’s Hedge Fund Offers Hefty Pay to Combat Talent Squeeze (Bloomberg)
After the best year for hedge funds in a decade, promising traders can seek a place at the many major firms on a hiring spree or strike out on their own to seize on investor appetite. But a push by Schonfeld Strategic Advisors is a prominent example of a lucrative third option. The firm is dangling a hefty cut of profits as part of a foray into macro trading, taking a page out of the books of industry giants Citadel and Millennium Management.
Addepar Valued at $2.17 Billion as Investors Bet on Wealth-Management Tech (The Wall Street Journal)
Wealth-management software provider Addepar Inc. more than doubled its valuation to $2.17 billion from seven months ago in its latest funding round, the company said Tuesday. Addepar said it had raised $150 million from New York hedge-fund firm D1 Capital Partners. It was previously valued at nearly $1 billion after its last funding round in November, according to a person familiar with the deal. Earlier investors in Addepar, founded in 2009 by Palantir Technologies Inc. co-founder and serial entrepreneur Joe Lonsdale, include venture firms Valor Equity Partners and WestCap Group.
American Hedge Fund Manager Tudor Jones Says He Likes Bitcoin as a Portfolio Diversifier. (Coin Nounce)
The founder of Tudor Investment Corporation, Tudor Jones, said that he would like to allocate around 5% of his investment portfolio to Bitcoin. In a recent interview with CNBC, the American hedge fund manager said that the world’s largest cryptocurrency is an interesting investment tool. Paul Tudor Jones is the latest American hedge fund manager to support Bitcoin as a portfolio diversifier.
Hedge Fund Giants Druckenmiller, Loeb Back $70M Funding for Crypto Asset Manager Bitwise (Coin Desk)
Bitwise Asset Management – a crypto investment firm with $1.2 billion in assets under management that is trying make inroads in the country’s $20 trillion financial advisory industry – has raised $70 million at a $500 million valuation, CoinDesk has learned. The Series B round of funding was led by tech investor Elad Gil and crypto venture fund Electric Capital. Meanwhile, a who’s-who from the financial world also participated, including Daniel Loeb’s Third Point LLC, hedge funder Stanley Druckenmiller, financier Henry Kravis, Bridgewater Associates CEO David McCormick and Nadeem Meghji, a senior managing director at Blackstone.
Dan Kamensky Couldn’t Go To The Office So Instead He’s Going To Jail (Deal Breaker)
Like a lot of hedge fund managers, Dan Kamensky is a bit, uh, let’s say high-strung. Struggling emotionally and physically after leaving Paulson & Co. to set up his own shop, Kamensky sought help from a psychologist, a sleep specialist and executive coach. He began to meditate in the middle of the day. And it worked! He began to feel healthier and more relaxed, he says. He enjoyed family time again, playing games like Scrabble and doing crossword puzzles.