Hedge Funder Donald Sussman Sells Waterfront Fort Lauderdale Lot for $17M (The Real Deal)
Hedge funder Donald Sussman sold a waterfront lot in Fort Lauderdale for $17 million to a Texas-based aerospace executive in an off-market deal. The Laguna Property Trust sold the 0.7-acre lot at 2401 Laguna Drive to Arrowhead Hillcountry Investments, a Texas LLC managed by Edward J. Chalupa, records show. Chalupa is the president of Advanced Integration Technology, a Plano, Texas-headquartered aerospace company. Sussman is founder and chief investment officer of Paloma Partners, a hedge fund based in Greenwich, Connecticut.
Dubai Court Rules to Extradite Hedge Fund Sanjay Shah to Denmark (BNN Bloomberg)
The Dubai Court of Appeal has ruled to extradite British hedge-fund trader Sanjay Shah to Denmark on alleged fraud and money laundering crimes, overturning an earlier decision. Danish prosecutors have alleged that Shah was the mastermind behind a $1.9 billion scam involving a global network of bankers, lawyers and agents who illegally sought refunds on dividend taxes they never paid, on stocks they never owned. Shah has consistently maintained his innocence. The other parties in the case include Shah’s wife, Usha, and his firm Solo Capital Partners Ltd.
Hedge Funds Down 0.09% in November, Says SS&C GlobeOp Index (Hedge Week)
The SS&C GlobeOp Hedge Fund Performance Index measured -0.09%, for November, according to the latest figures from SS&C Technologies Holdings. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index meanwhile, advanced 0.37% in December. “SS&C GlobeOp’s Capital Movement Index was up 0.37% for December 2022, continuing a trend of stabilisation from November. The trailing 12-month average of 0.03% marks the second consecutive calendar year of positive flows,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.
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Hedge Fund Veteran Mark Yusko Warns of Imminent ‘Sinister’ Threat to Crypto Industry (The Daily Hodl)
Morgan Creek Capital CIO Mark Yusko says that the crypto industry is facing a sinister threat that investors may want to watch out for. In a new interview with Blockworks, the crypto veteran says that the digital assets space is at the phase where it – like other groundbreaking inventions before it – faces aggressive opposition from those in power.
Hedge Funds Experienced a Tough Year, But AUM Hits $4.1tn (Opalesque.com)
Hedge funds AUM stands at $4.1tn as of September 2022, which represents a 4.8% reduction since the end of 2021, said a study. According to Preqin Global Report 2023: Hedge Funds, hedge funds experienced a tough year, but managed to bring value to portfolios. Hedge funds endured a tough first half as net capital outflows totaled $24.3bn, and the outflows continued in Q3 (-$31bn). The negative performance, along with the outflows, pushed the industry’s total assets under management (AUM) down in 2022.
