Hintze’s CQS Hedge Fund Firm Unveils New Total Return Credit Strategy After Bruising 2020 (Hedge Week)
CQS, Sir Michael Hintze’s long-running multi-strategy credit-focused hedge fund firm, has launched a new actively-managed strategy which aims to generate higher returns across corporate sub-investment grade opportunities against a backdrop of increased volatility and unpredictable markets. The CQS Total Return Credit Fund targets a range of geographies, asset classes and sectors, across various ratings classes, using a bottom-up, fundamental research process.
Stanley Druckenmiller Bets on Disney and Cybersecurity, Dumps Netflix. Here are His Latest Moves (CNBC)
Billionaire hedge fund manager Stanley Druckenmiller still has big bets on tech giants but sold one of the space’s biggest names during the fourth quarter – Netflix. According to a regulatory filing released Tuesday, Druckenmiller’s Duquesne Family Office had 12 long positions worth more than $100 million at the end of the year.
Hedge Fund Boss Odey ‘Lunged’ at Woman in 1998 Indecent Assault, Trial Hears (Reuters)
LONDON (Reuters) – Crispin Odey, one of Britain’s most high-profile hedge fund managers and political donors, “lunged” at a 26-year-old female bank employee in 1998 and indecently assaulted her, a prosecutor told a London trial on Wednesday. Odey, 62, a muti-millionaire backer of Brexit who donated to Prime Minister Boris Johnson’s leadership campaign, denies a single charge of indecent assault.
For Griffin’s Return to Washington, Citadel Is a ‘Bigger Target’ (Bloomberg)
The reach of Citadel founder Ken Griffin’s empire was on full display during the rise and fall of GameStop Corp. — and Washington took note. One of his businesses executed many of the trades that drove the retailer’s shares into the stratosphere last month, while another provided a $2 billion lifeline to a hedge fund that got crushed by the stock surge. But such pervasiveness poses a threat as lawmakers seek to determine whether the Reddit-fueled trading frenzy was just a blip, or a sign that something is broken on Wall Street.
Ray Dalio’s Hedge Fund Unloaded its Stake in Tesla and Poured Millions into Goldman Sachs and JPMorgan in the 4th-Quarter (Business Insider)
Ray Dalio‘s Bridgewater Associates sold its stake in Tesla and bought new positions in banks including JPMorgan and Goldman Sachs in the fourth-quarter, according to a recent filing with the Securities and Exchange Commission. Dalio, the founder of the world’s largest hedge fund, now holds a $52 million stake in JPMorgan, a $17 million stake in Goldman Sachs, and a $19 million stake in Morgan Stanley.
Month in Review – January 2021 (Hedge Nordic)
Stockholm (HedgeNordic) – After logging their best annual performance since 2009, Nordic hedge funds started 2021 on a positive note with an average gain of 0.6 percent in January (97 percent reported). Equity hedge funds, the largest strategy group within the Nordic Hedge Index, led the gains last month, continuing their momentum into 2021 after enjoying their second-best year on record with an advance of 16.1 percent in 2020.
Alden Global Capital Agrees to Buy Rest of Tribune Publishing (The Wall Street Journal)
A New York hedge fund that is the largest shareholder in Tribune Publishing Co. has reached a deal to acquire the rest of the newspaper company which owns some of the biggest papers in the country, including the Chicago Tribune and New York Daily News. Alden Global Capital LLC, which already owned a 32% stake in the company, reached an agreement with a special committee appointed by the board to buy the rest of the company for $17.25 a share, valuing the company at around $630 million. The deal still requires shareholder approval.
Hedge Fund Performance Update: January 2021 (Preqin)
The Preqin All-Strategies hedge fund benchmark returned +2.14% in January, building on December’s return of +4.08% and pushing the 12-month return to +18.90%. This heatmap presents the hedge fund performance benchmarks for January 2021. Plus, the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications.