Bridgewater Associates Launches Sustainable Investing Venture (Hedge Week)
Bridgewater Associates (Bridgewater), a global leader in institutional portfolio management and the largest hedge fund in the world, has launched a new sustainable investing venture. Karen Karniol-Tambour and Carsten Stendevad will serve as Co-Chief Investment Officers (Co-CIO) for Sustainability, overseeing the effort, including the design and implementation of investment solutions for clients pursuing sustainability goals alongside their financial targets.
Sean George to Leave Sweden (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge fund manager Sean George has decided to leave Strukturinvest Fondkommission and Sweden for new challenges abroad. Consequently, Hamiltonian Global Credit Opportunities (Hamiltonian GCO), the credit-focused hedge fund founded and co-managed by George, is closing down at the end of April, a few months after reaching $100 million under management.
Hedge Fund Investment Firm Brevan Howard to Start Investing in Cryptocurrencies (Bitcoin.com)
Brevan Howard, one of Europe’s largest hedge funds with $13.7 billion in assets under management, is reportedly set to start buying cryptocurrencies. The investment firm previously bought a 25% stake in One River Asset Management, which runs a number of cryptocurrency funds. Major Hedge Fund to Start Investing in Cryptocurrencies: Investment management firm Brevan Howard is reportedly preparing to start buying cryptocurrencies, Bloomberg reported, citing a person familiar with the matter. The firm’s cryptocurrency investments will be overseen by Distributed Global’s co-founders Johnny Steindorff and Tucker Waterman. Distributed Global is an asset management company that focuses on digital assets.
The Rage of Carson Block (Institutional Investor)
A year before Carson Block launched Muddy Waters Capital, his hedge fund firm, he started trying to line up a prime broker – an investment bank that could lend him stocks so he could then sell them short. But the task was proving arduous. The problem, he believes: Block had made his name calling out China frauds, and Wall Street loved China.
Pershing Square Tontine Finds Itself in the Pressure Zone (MSN)
I must admit that I’ve likely frustrated readers regarding my take on Pershing Square Tontine Holdings (NYSE:PSTH). With the popularity of special purpose acquisition companies, folks want to know whether they should buy, sell or look for another opportunity. Frankly, PSTH stock is difficult to figure out because it has a mixture of positives and negatives. Of course, the biggest factor working in favor of the blank-check firm is the sponsor, legendary investor and hedge fund manager Bill Ackman. When it comes to SPACs, you live or die by its sponsor. Typically, a SPAC has about two years to identify a reverse merger target and seal the deal. If nothing happens, shareholders get their money back.
A New Hedge Fund, David Tepper-Backed CastleKnight Management, has Crushed its First 6 months of Trading (Business Insider)
CastleKnight Management hasn’t wasted any time since it began trading last October. In six months, the David Tepper-backed firm has surged 63.2%, a source familiar with the firm told Insider. In 2021, through the end of March, the manager is up 34% after returning 10.8% last month. The average hedge fund has returned more than 6% in the first quarter of 2021, according to Hedge Fund Research.