Dan Och’s Fortune Soars With Family Office After Hedge Fund Exit (Bloomberg)
The best thing to happen to Dan Och, financially speaking, may have been leaving the hedge-fund firm he founded more than two decades ago. When he exited in 2019, his Och-Ziff Capital Management had already seen more than $20 billion of outflows after becoming embroiled in a foreign bribery scandal. Its shares were down about 90% from its IPO price and regulators had made it difficult for the firm to raise money.
Activist Investor Elliott Takes Stake in Taylor Wimpey and Demands Change (The Guardian)
The activist investor Elliott has turned its fire on the housebuilding company Taylor Wimpey, demanding it find a chief executive from outside the organisation, after Pete Redfern resigned from the position earlier this week. The aggressive US hedge fund also disclosed in a letter published on Friday that it was among the top five shareholders in Britain’s third-largest housebuilder, although it did not disclose exactly how much of a stake it holds.
The Hiring Blitz Continues at $7.8 Billion Hedge Fund Schonfeld with Colin Lancaster Poaching 2 Portfolio Managers for His Macro Team (Business Insider)
The new macro trading division Colin Lancaster and Mitesh Parikh are building at $7.8 billion Schonfeld Strategic Advisors has landed some additional firepower. Two portfolio managers have joined Schonfeld’s Discretionary Macro and Fixed-Income group – the division launched this summer by Lancaster and Parikh to trade global bonds and currencies – according to people familiar with the matter.
Working For, Keeping Safe Donald Trump Not A Big Enough Challenge For David Cho (Deal Breaker)
To say Donald Trump was a difficult boss is an understatement. And keeping the president of the United States safe, even in North Korea, seems a bit of a challenge, to say the least. Well, as the head of the president’s security detail, David Cho has managed both of those tests. Now, however, he’s ready for a real nightmare boss and some true security nightmares. David Cho [will] start at $43 billion Citadel on Jan. 3 as deputy head of security, according to a spokesman for the firm. Of course, Cho will find some familiar faces at Citadel down in the interrogation rooms.
Kreditfonden’s Pockets of Yield (Hedge Nordic)
Stockholm (HedgeNordic) – With high-yielding opportunities in public fixed-income markets being few and far between, investors have been exploring lesser-known or out-of-the-public-eye corners of finance. Swedish asset manager Skandinaviska Kreditfonden AB (Kreditfonden) has set out on a journey to develop a product range that focuses on some of these corners of fixed-income markets with the aim of becoming a leading player in direct lending to Nordic companies.