GB News Owner Paul Marshall Shares £721m Payday (Telegraph.co.uk)
GB News owner Sir Paul Marshall is to share a pot of more than £720m after his London-based hedge fund posted a surge in profits. Sir Paul is among a group of 23 partners at Marshall Wace who will split the money after the company’s revenues soared by nearly two-thirds to £1.5bn in the year to February, driven by a surge in performance fees on the back of bumper returns.
‘We See Ourselves as a Growth Company’: Regal’s Phil King Eyes Growth After Perpetual Tilt (The Age)
Regal Funds Management chief investment officer Phil King has laid out ambitious growth plans for his hedge fund despite a rejected takeover tilt at storied wealth manager Perpetual, as he conceded the market believes the audacious deal is unlikely to proceed. Sydney-based hedge fund Regal last month made a bold move for Perpetual, one of Australia’s oldest wealth managers, which has a separate agreement in place to merge with rival Pendal.
Walleye Builds Out London Team (Hedge Week)
US multi-strategy hedge fund Walleye Capital is busy adding staff to its London operation having opened a new office in the city in May of this year, according to a report by eFinancialCareers. With $4 billion under management, the Minnesota-based firm is small compared to the mega multi-strategy funds such as $58 billion Millennium Management, which moved to new premises in London this week. Walleye though is actively hiring for staff across it options volatility, fixed income relative value, and fundamental market neutral equities strategies.
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Bridgewater Erases Most of Year’s Gains After Two-Month Rout (Bloomberg)
Bridgewater Associates erased most of the returns it notched through this year’s first three quarters, ruining what was shaping up to be the hedge fund giant’s best annual performance in more than a decade. The Pure Alpha fund tumbled about 13% in the fourth quarter through November, cutting its year-to-date gain to 6%, according to people familiar with the matter. It had surged 22% as of the end of September, putting it on track for its best year since 2010, when it rose about 27%.
The Spectacular Unspectacular 20th Anniversary (Hedge Nordic)
Stockholm (HedgeNordic) – Reaching the 20th anniversary in the often short-lived and fast-paced hedge fund world is quite an achievement. In fact, some activity in the Nordics in recent years with funds launching, merging and closing resembled more of a come-and-go party. With pleasure then we can congratulate PriorNilsson Yield of Torgny Prior’s and PO Nilsson’s PriorNilsson Fonder on its 20th anniversary these days.
