Hedge Fund Bridgewater Plans Restructuring Amid AI Push, Global Expansion (Reuters)
Bridgewater Associates said on Wednesday it will cut jobs as the hedge fund embarks on a firm-wide restructuring to expand its international footprint and develop AI technologies. The job cuts are expected to affect about 100 employees from the hedge fund’s total workforce of roughly 1,300, according to a Bloomberg News report citing an interview with the firm’s co-CEO.
Greenlight Ekes Out a Small Gain in February (Institutional Investor)
The value-driven firm was boosted by several of its largest long bets and a big new position. Greenlight Capital moved back into the black last month. The value-driven hedge fund headed by David Einhorn posted a strong 1.8 percent gain in February and is now up a slight 0.2 percent for the year.
Seth Klarman’s Baupost Fund has Likely Scored a $190 million Gain on Warner Bros. Discovery this Year as ‘Hogwarts: Legacy’ Sales Boom (Business Insider)
Seth Klarman‘s Baupost Group has likely scored a nearly $200 million gain on Warner Bros. Discovery since the start of this year. The hype around “Hogwarts: Legacy” has helped propel the media stock up 65% over the past two months, meaning WBD rivals Tesla as the S&P 500’s best performer so far this year. The billionaire investor’s hedge fund purchased 18 million shares of the TV, movie, and video-game company in the second quarter of 2022, Securities and Exchange Commission filings show.
Phongphan/Shutterstock.com
Oaktree Gets into Private Credit (Opalesque.com)
Asset management firm Oaktree has launched a private credit arm – Oaktree Lending Partners. Oaktree Lending Partners is targeting $10 billion in equity commitments from institutional investors for the group which will make senior secured loans of $500 million or more to private equity backed companies. Oaktree believes this market is especially attractive now, given the limited availability of debt capital to finance large leveraged buyouts (LBOs) and the record-high levels of committed private equity capital yet to be deployed, requiring financing.
What to Know About Michael “Big Short” Burry’s Latest Stock Purchase (The Street)
The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Here’s what investors need to know about Michael Burry‘s long positions. Michael Burry recently added seven new stocks to his hedge fund, Scion Asset Management, including Chinese e-commerce companies Alibaba and JD.com and technology firm Black Knight. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. In January, Burry made predictions for an economic downturn in 2023. What Are Michael Burry’s Newest Long Positions? According to the latest 13F filing from famed investor Michael J. Burry’s Scion Asset Management, the hedge fund has added seven new stocks to its portfolio.
