Novogratz’s Galaxy Digital Explores Job Cuts of About 20% (Bloomberg)
Galaxy Digital Holdings Ltd., the crypto financial services firm founded by billionaire Michael Novogratz, is exploring eliminating as much as 20% of its workforce against the backdrop of a digital-assets market downturn. The plan under consideration could still be changed and the final number could be in a range of 15% to 20%, according to people familiar with the matter. New York-based Galaxy reported 375 employees globally as of the end of the second quarter, which would mean as many as 75 positions could be eliminated.
Tiger Global-Backed Games24x7 Launches Rs 400-Crore Fund for Early-Stage Startups (The Economic Times)
Online gaming unicorn Games24x7 is launching a Rs 400-crore investment fund – Games 24×7 Ventures – to explore early-stage targets in the interactive entertainment space. The fund will focus on investing in startups that have synergies with the company’s core business areas. Tiger Global-backed Games24x7, which operates platforms including My11Circle and RummyCircle, raised $75 million earlier this year at a valuation of $2.5 billion.
Macro Hedge Fund LHG Capital Raises $445m for Newly-Structured Flagship Fund (Opalesque.com)
LHG Capital Management, a hedge fund dedicated exclusively to global macro investment strategies in the Asia-Pacific region, announced the closing of its newly-structured closed-ended flagship fund, LHG Premium Investments Fund, at €450 million (US$445 million), 50% higher than the original €300 million target. Fund assets are now locked-up with LHG until October 2025, said a press release from the global alternative investment management firm headquartered in Hong Kong and Zurich, with representative offices in Abu Dhabi, Beijing, and Sydney.
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Goldman’s Bin Zou Joins Hedge Fund ExodusPoint (Financial News)
Hedge fund ExodusPoint Capital Management has expanded its London team with the appointment of Bin Zou as a macro quantitative researcher. Zou joins ExodusPoint from Goldman Sachs, and will focus on alpha signal research in FX and rates. At Goldman, Zou was an executive director, developing systematic trading strategies in FX and rates.
How to Get a Job at Citadel or Citadel Securities (eFinancialCareers)
Plenty of people want to work for Citadel and Citadel Securities. Few succeed. In an interview earlier this year, Matt Mitro, the head of graduate recruitment for both firms said that only 1% of applicants to both firms make it through. What makes successful applicants special? In an interview for our recent graduate careers fair, Mitro suggested that the students Citadel and Citadel Securities hire are fundamentally differentiated by one thing.
