Exclusive: Hedge Fund Citadel’s Commodity Investments Up More Than $1 Billion this Year – Sources (Reuters)
NEW YORK (Reuters) – Hedge fund Citadel’s investments in commodities returned more than $1 billion this year, according to three people familiar with the matter, helping to drive strong overall performance for one of the world’s largest funds. The fund, led by Chicago billionaire Ken Griffin, benefited from gains trading in oil, power, natural gas and agriculture markets this year, the people said.
Billionaire Michael Platt, 52, is Fined $170million for Lying to Investors After He was Caught on Camera Bragging He was the ‘Highest Earning Person in Finance’ Last Year (DailyMail.co.uk)
A hedge fund tied to a British billionaire who was caught on camera last year bragging about his wealth has been fined $170 million for lying to investors. Hedge-fund manager 52-year-old Michael Platt who co-founded BlueCrest Capital Management and who is estimated to be worth $8 billion, boasted to a New York taxi driver last December, that he was ‘the highest-earning person in the world of finance.’
Renaissance Technologies Wins Cheap Power from NYS for HQ upgrade (News Day)
Renaissance Technologies LLC in East Setauket, one of the most successful hedge funds in history, will save substantially on its electric bills thanks to low-cost power from the state. Renaissance was founded in 1982 by its chairman James Simons, a billionaire who is a major contributor to the Democratic Party. Another billionaire, Robert Mercer, has held several positions at the hedge fund. He is a key contributor to the Republican Party and a conservative think-tank that’s critical of Gov. Andrew M. Cuomo.
Bridgewater Associates and Lyxor to Launch Sustainability-Focused Strategy Next Year (Hedge Week)
Bridgewater Associates, Ray Dalio’s long-running hedge fund giant, has paired up with French institutional manager Lyxor Asset Management to launch a new multi-asset strategy next year, based around sustainable investing. The new vehicle – which is designed for investors to achieve financial and sustainability targets – is built around Bridgewater’s ‘All-Weather’ multi-asset framework, and trades assets aligned to the United Nations Sustainable Development Goals.
Hamiltonian Hits Milestone (Hedge Nordic)
Stockholm (HedgeNordic) – After a rocky start to its journey in 2018, Hamiltonian Global Credit Opportunities hit the ground running in early 2019 and never looked back. The credit-focused hedge fund founded and co-managed by Sean George has now reached $100 million under management after delivering a Sharpe ratio of 1.5 over the past 24 months. “We got off to a rocky start in 2018 which was very frustrating,” Sean George (pictured), Chief Investment Officer at Strukturinvest Fondkommission, tells HedgeNordic.