Activist Fund Trian Reorders Top Ranks as CIO Garden Retires – Filing (Reuters)
Billionaire investor Nelson Peltz’s activist hedge fund Trian Fund Management has overhauled its top ranks and promoted two veterans to co-chief investment officers, replacing a co-founder who is retiring, according to a regulatory filing. Trian, founded in 2005, oversees some $7 billion in assets and ranks among the world’s most powerful firms that push corporations to make changes ranging from overhauling executive teams to putting the company up for sale.
Millennium Taps Polar Capital’s Head of Trading (Hedge Week)
Multi-strategy giant Millennium has added Alex Jenkins, the head of trading at boutique hedge fund Polar Capital, to its team, according to a report by The Trade. Jenkins’ new role and title with her new employer have not yet been confirmed. Jenkins served as Polar Capital’s head of trading for over three-and-a-half years having first joined the firm in December 2019.
Inside Eisler Capital: The Ambitious Hedge Fund Where You May Not Last (eFinancialCareers.com)
It’s a trope of the post-pandemic hiring landscape that the big multistrategy hedge funds are the new aggressive recruiters. Funds like Citadel, Millennium, Balyasny, Point72 and ExodusPoint have been paying very, very handsomely to pull traders from banks. And they’ve recently been joined by another generous hand at the table: Eisler Capital, the hedge fund transforming itself into a multistrat.
Photo by Austin Distel on Unsplash
A Brazilian Billionaire Amps Up His Hedge Fund Bet (Bloomberg)
Peninsula Participacoes Ltda., the investment firm managing assets for the billionaire Abilio Diniz and his family, is expanding its push into Brazil’s hedge fund industry. O3 Gestão de Recursos Ltda., the fund manager created by Peninsula, plans to launch four products open to investors outside the family in addition to its existing flagship global hedge fund, O3 Retorno Global Qualificado, according to Daniel Mathias Alves Pinto, a partner and chief investment officer at O3 Capital.
Goldman’s Hedge Fund ETF Is Crushing the S&P 500 With AI Bets (Advisor Perspectives)
The artificial intelligence boom is handing a big win to hedge funds angling for an edge. The $127 million Goldman Sachs Hedge Industry VIP exchange-traded fund (ticker GVIP), which scans 13F filings to build a portfolio of popular hedge fund picks, has rallied more than 16% so far in 2023, Bloomberg data show. That compares to a nearly 10% climb for the S&P 500. GVIP’s 2023 outperformance is largely thanks to its three largest holdings: AI-darlings Nvidia Corp., Broadcom Inc., and Advanced Micro Devices Inc. Paced by Nvidia, the chipmakers have surged over the past month as hype builds around the technology, which was a hot topic in the latest round of corporate earnings.
