‘If Artificial Intelligence Creates Better Art, What’s Wrong with That?’ Top Norwegian Investor and Art Collector Nicolai Tangen (The Guardian)
For a prolific art collector, Nicolai Tangen is remarkably relaxed about the prospect of masterpieces created by robots. The threat of AI-made paintings, impossible to distinguish from human brushstrokes, has sparked soul-searching and paranoia in the art world, but not with Tangen. “Hey, if it creates better art that’s fantastic,” says the Norwegian philanthropist, art historian and boss of the world’s biggest sovereign wealth fund. “If you create something which is even more aesthetically pleasing, what’s wrong about that?”
Elliott Demands NRG Seek New CEO as Boardroom Battle Rages (Bloomberg)
Elliott Investment Management LP is ramping up its boardroom battle with NRG Energy Inc., calling on the US power producer to seek a new chief executive officer and conduct a review of its operations. The activist investor is demanding that NRG immediately initiate a search for an external CEO and add new directors to its board, according to a public letter Tuesday.
Odey Asset Management in ‘advanced talks’ to transfer funds to SW Mitchell Capital (City.A.M)
Odey Asset Management (OAM) is in “advanced talks” to transfer funds to rival SW Mitchell Capital as it reels from sexual assault allegation against its founder Crispin Odey. In a letter seen by City A.M., the beleaguered hedge fund wrote to investors saying it was in discussions over the transfer of four of its European Equity Funds and their manager Oliver Kelton. The Brook Continental European Fund, Brook European Focus Fund, Odey Pan European Fund and Brook European Focus Absolute Return Fund would be shifted across to SW Mitchell as part of the deal, OAM told investors.
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Three Arrows Capital Liquidators Seek $1.3B From Bankrupt Hedge Fund’s Founders: Bloomberg (CoinDesk)
Three Arrows Capital (3AC) liquidators are seeking $1.3 billion from the bankrupt crypto hedge fund’s founders, saying they took on additional debt in the months before its collapse even though it was already insolvent, Bloomberg reported Tuesday. The liquidators, partners at consulting firm Teneo, discussed the allegations with Three Arrows creditors, according to the report, which cited a person familiar with the matter.
Svelland Capital Hires Pareto Analyst (Hedge Nordic)
Stockholm (HedgeNordic) – Svelland Capital, the commodity-focused asset manager that runs Svelland Global Trading Fund, is bolstering its ten-person team with the addition of Nadia Wiggen. Wiggen, a partner and chief oil and gas analyst at Pareto Securities, will assume the role of director on September 1. While being part of the company’s flat structure, her primary focus will involve nurturing relationships with existing and prospective clients of the fund.
