Tiger Global’s Hedge Fund Posts 15% Monthly Drop, Pushing Year’s Loss to 44% (Bloomberg)
Tiger Global Management’s performance problems are piling up. The firm’s hedge fund declined 15% in April, taking its loss in 2022 to 44%, according to people familiar with the matter. Tiger Global’s long-only fund was hit even worse, tumbling 25% last month and extending its drop for the year to 52%, said the people, who asked not to be named because the information isn’t public.
Paul Tudor Jones Says He Can’t Think of a Worse Financial Environment for Stocks or Bonds Right Now (CNBC)
Billionaire hedge fund manager Paul Tudor Jones said the environment for investors is worse than ever as the Federal Reserve is raising interest rates when financial conditions have already become increasingly tight. “You can’t think of a worse environment than where we are right now for financial assets,” Jones said Tuesday on CNBC’s “Squawk Box.” “Clearly you don’t want to own bonds and stocks.”
Activist Firm Elliott Pushes Western Digital to Split Its Businesses (Reuters)
(Reuters) – Elliott Management on Tuesday disclosed it held a stake of nearly $1 billion in Western Digital and pushed the company to conduct a strategic review and split off its flash-memory business. New York-based Elliott, one of the world’s most prominent activist investors, argued in a letter to the board that Western Digital’s acquisition of SanDisk is not working well and the company would be better off separating the flash and hard drives business. It owns roughly 6% of the company.
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Catalio Capital Amasses $381 Million for Third Biomedical Fund (The Wall Street Journal)
Biomedical specialist Catalio Capital Management, which spun out of Camden Partners in 2020, has raised $381 million for its second independent fund, outpacing a $300 million target. Catalio Nexus Fund III LP is more than three times as large as its predecessor, which closed on $100 million in 2020. The New York firm raised $15 million from…
Bridgewater’s Chief Diversity Officer Explains How the Hedge Fund is Using Its New Fellowship Program to Create a Pipeline of Diverse Talent in Finance (Business Insider)
Alan Bowser sees his latest career achievement as “a chance to pay it forward.” Bowser, the chief diversity officer at hedge fund Bridgewater Associates, told Insider he was able to build a successful career in financial services at least partly because of the mentorship and sponsorship he received. Now, Bowser is helping spearhead Bridgewater’s Rising Fellows program, a three-week virtual program geared toward first-year undergraduate students from backgrounds that are underrepresented in the financial-services industry, including LBGTQ+ individuals and people of color.
