University of Michigan Earmarks $245 Million for 2 Funds (Pensions & Investments)
University of Michigan, Ann Arbor, committed up to $245 million from its $16.5 billion long-term endowment at its board of regents meeting Oct. 21, according to board documents. In public equity, the university committed up to $170 million to the Children’s Investment Fund, a hedge fund managed by The Children’s Investment Fund Management.
Anthony Scaramucci Praises Elon Musk, Trumpets Blockchain, and Compares Bitcoin Today to Amazon Stock in 1999 in a New Interview. Here are the 14 Best Quotes. (Business Insider)
Anthony Scaramucci championed blockchain technology, touted Coinbase stock, and compared bitcoin today to Amazon stock in 1999 in a recent RealVision interview. The SkyBridge Capital boss, who lasted only 10 days as the White House’s communications chief in 2017, also praised Tesla and SpaceX CEO Elon Musk, slammed Sen. Elizabeth Warren, and bemoaned the climate crisis.
Dalio, Fink Say They’d Pay More Tax If Funds Were Spent Well (Bloomberg)
U.S. billionaires Ray Dalio and Larry Fink say they’re open to paying more tax — but only if the money was put to good use. “I would support anything that is going to have the effect of being spent on increasing, creating equal opportunity and greater productivity,” Dalio, the founder of hedge fund Bridgewater Associates, said at Saudi Arabia’s flagship investment conference. “If it accomplishes those things, I would support it. I’m not sure that it does.”
Performing Under Pressure: How Hedge Funds can Weather Q4’s Choppy Markets (Hedge Week)
Hedge funds are well-placed to outperform other assets classes in a potentially choppy market environment during the fourth quarter, with commodities, event driven and certain credit strategies faced with a rich opportunity set and strong upside potential as markets adjust to a post-Covid world. In its latest ‘Fourth-Quarter Hedge-Fund Strategy Outlook’, K2 Advisors said global equities and bond markets are now locked in a “tug-of-war” between good news and bad news, which is shaping the way investors position their portfolios.
Blackstone’s Co-Head of Hedge Fund Unit McCormick to Leave Firm (Reuters)
BOSTON, Oct 25 (Reuters) – John McCormick, the co-head of Blackstone Group’s (BX.N) $81 billion hedge fund unit, plans to leave the private equity firm in the coming months, a company representative said on Monday. As the world’s biggest hedge fund investor, Blackstone backs new hedge funds, invests alongside hedge funds, buys majority stakes in them and offers internally run hedge funds to clients like pension funds and foreign governments.