Hedge Fund and Insider Trading News: Ray Dalio, Michael Novogratz, Bitwise Asset Management, Goldman Sachs Group Inc. (GS), Candel Therapeutics Inc (CADL), Cintas Corporation (CTAS), and More

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Galaxy Digital Hiring First COO For Asset Management Arm (The Street)
The asset-management arm of Michael Novogratz’s Galaxy Digital is aiming to hire its first chief operating officer as the division scales and increasingly moves into running actively managed crypto strategies, according to two people familiar with the matter.

Investors have Misconstrued China’s Crackdown as Anti-Capitalist, Billionaire Ray Dalio Says (CNBC)
Billionaire investor Ray Dalio says China’s recent regulatory crackdown has been misinterpreted as being “anti-capitalist” by some Western investors. In a note on his LinkedIn account, Dalio said investors who think that way will “continue to miss out” on what’s happening in the Asian country.

Goldman’s China Hedge Fund Clients Had Second-Worst Month Ever (Bloomberg)
Goldman Sachs Group Inc.’s hedge fund clients focused on Chinese stocks recorded their second-worst monthly loss ever in July, according to client data compiled by the bank. Fundamental long-short managers targeting the market lost an estimated 5.6% on average during the month, sinking to a 1.1% decline this year, the Wall Street bank said in a note to clients on Monday. The monthly drop was the second only to March 2020, according to Goldman’s records.

KB Associates Acquires EFG Fund Management (Hedge Week)
KB Associates (KBA), a professional services firm advising investment funds and asset managers, has completed its acquisition of EFG Fund Management, a Luxembourg-based management company and subsidiary of EFG International AG, the Swiss Private Banking Group (EFG). The transaction was agreed in February 2021 and has now been completed after receiving regulatory clearance. KBA specialises in the provision of management company, governance and compliance services to investment funds and asset managers. Founded in 2003, Dublin-headquartered KBA also has offices in London, Cayman Islands, Malta and now Luxembourg. KBA has over 80 consultants and works with over 250 asset management firms, including some of the world’s largest managers.

StoneX Appoints 30 Year Hedge Fund Trader to Outsourced Trading Team (The Trade News)
The former global head of trading at Soros Fund Management has joined the outsourced trading team at US-based brokerage StoneX. Steve Guihan joins the global macro desk based in New York, part of StoneX’s outsourced trading team, with over 30 years of industry experience having most recently served as an execution trader for Mistell Management for nearly three years. Previously in his career, Guihan spent four years at Graham Capital and notably 24 years as the global head of trading at Soros Fund Management.

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