D.E. Shaw Closes First Private Equity Fund Shy of $500 Million Target (Bloomberg)
Quant pioneer D.E. Shaw & Co. raised more than $450 million for its first dedicated private equity fund, just shy of the $500 million target it set a year ago. The Voltaic fund is debuting after a drop in private-company valuations, and portfolio manager Edwin Jager said he expects to capitalize on further declines this year as startups grow more desperate for cash.
Hedge-Fund Legend Seth Klarman Pounced on Amazon and Parent Companies of Google and Facebook in the Fourth Quarter (MarketWatch)
Seth Klarman, one of the top money managers of all time, quadrupled his firm’s stake in Amazon.com in the fourth quarter, one of several big bets on mega-cap tech companies that were made. A 13-F filing filed with the Securities and Exchange Commission showed Klarman’s Baupost increased its stake in Amazon by 299%. Its stake in Alphabet the parent of Google, rose by 190%, and its stake in Meta Platforms increased by 151%.
Soros Appears To Be Fixated On Gains In The S&P 500 Index (FX Mag)
On Monday (13.02) we were able to learn about the SOROS FUND MANAGEMENT fund’s 13F report, a periodic report to the US Securities and Exchange Commission (SEC). The Form 13F contains information about the value and number of shares held, as well as the value of investments and the type of investment assets the investor has in its portfolio, for the last quarter. What has George Soros‘ fund invested in?
Source: pexels
Demand for Macro Traders Remains White Hot. Millennium Just Lured a Star Portfolio Manager from Rival ExodusPoint. (Business Insider)
The competition for macro portfolio managers was scorching hot to end the year, and the trend isn’t showing signs of abating in 2023. Millennium Management recently added another star to its stable, lifting a 32-year-old macro PM out of rival ExodusPoint, according to people familiar with the matter. John Curtice is set to join Izzy Englander‘s $58 billion multi-strategy fund following his noncompete period, the people said. Curtice, a 2012 graduate of MIT, had been with Exodus since its launch in the summer of 2018. Before that, he worked three-year stints in global macro at both Mariner Investment Group and Element Capital.
Element to Relax Redemption Rules Following $1bn Monthly Loss (Hedge Week)
Element Capital, one of the world’s biggest macro hedge funds, is responding to a recent string of poor returns, including a $1 billion loss during last month’s stock market rally, by reducing its $12 billion asset base in a bid to improve performance, according to a report by the Financial Times. The report cites unnamed sources as revealing that the New York-based firm, which was founded by Jeffrey Tailpins, chalked up a 9.6% loss in January, as equity markets rebounded on speculation that central banks would soon call a halt to interest rate rises.
