Paul Tudor Jones Says Powell Has a Lot of Catching Up to Do (Bloomberg)
Federal Reserve Chair Jerome Powell will struggle to contain rising inflation, and a variety of assets will face challenges as a result, Paul Tudor Jones said. “He’s got a lot of catching up to do,” the hedge fund manager said Tuesday in an interview on CNBC. “We’re getting ready to see a major shift, and it’s going to have a lot of consequences for a variety of asset prices.”
Bridgewater’s Ray Dalio Endorses China’s ‘Common Prosperity’ Drive (The Wall Street Journal)
Bridgewater Associates LP founder Ray Dalio backed China’s push for “common prosperity,” or greater equality, under President Xi Jinping and said countries such as the U.S. could benefit from a similar approach. Beijing’s pursuit of common prosperity has been a driver behind its wide-ranging crackdowns on sectors such as e-commerce, videogames, property and after-school tutoring. The heightened regulatory pressure in turn has caused steep declines for many Chinese stocks listed in the U.S. and Hong Kong, and prompted many investors to reassess the risks and rewards of Chinese assets.
Citadel Securities Valued at $22 bln After Sequoia, Paradigm Take Stake (Reuters)
Jan 11 (Reuters) – Citadel Securities said on Tuesday venture capital firm Sequoia Capital and crypto-focused investment company Paradigm had made a $1.15 billion minority investment in it, giving the market maker founded by billionaire Ken Griffin a valuation of nearly $22 billion.
Balyasny’s Founding Partners Lay Out Their Top Priorities ‘for the Next 20 Years’ in a New Letter that also Shares a Quirky Story About Their First Meeting with Goldman Sachs (Business Insider)
Ask investors about Balyasny and they will describe a $12-billion-in-assets hedge fund that has garnered respect from trading desks around the world for its impressive performance across two decades. But it wasn’t always that way. In a letter to investors marking the Chicago-based firm’s 20th anniversary, Balyasny’s founding partners reveal how badly they nearly blundered their first meeting with Wall Street institution Goldman Sachs when they were first starting out and searching for a prime brokerage partner.
Catella Completes Fund Business Divestiture (Hedge Nordic)
Stockholm (HedgeNordic) – During the summer of last year, Catella AB agreed to sell a majority stake in its fund management arm, Catella Fondförvaltning, to Swedish investment company Athanase Industrial Partner. Catella has now used the right to sell the remaining stake of 30 percent in Catella Fondförvaltning to Athanase for SEK 60 million. “I am pleased that we have taken additional steps on our journey towards a real estate focused company,” comments Christoffer Abramson, the CEO of Catella. “Looking ahead we can fully allocate our resources to developing and growing our three business areas: Catella’s market leading Corporate Finance advisory services, Property Investment Management with assets under management of SEK 112 billion, and our own Principal Investments of SEK 800 million in development projects across Europe.”
Brevan Howard Makes Hedge Fund Clients Commit Cash for Longer (Bloomberg)
Brevan Howard Asset Management returned capital to some clients in one of its hedge funds and asked them to come back and lock up cash for longer if they want to continue investing with the money pool. The firm has redeemed about 15% of the assets of its $7 billion BH Alpha Strategies fund, according to people with knowledge of the matter. It asked the affected investors to buy a new share class that limits withdrawals so that full redemptions will now take two years. Under the previous agreement, they could have taken all their money out with three months’ notice.