Global Hedge Fund Two Sigma Expands Into Insurance And Real Estate (Forbes)
Two Sigma, a New York-based hedge fund that uses sophisticated technology, is taking its analytical skills into insurance underwriting with Two Sigma Insurance Quantified. The company is scientifically driven in its approach, said Brian Modesitt, the insurance tech company’s CEO. It entered the insurance software space five years ago and developed a platform with AIG and Hamilton Insurance, which it sold last year to Coalition, an insurtech company with a focus on commercial cyber coverage.
Citadel, Other Hedge-Fund Winners in 2022 to Return Some Profits to Clients (The Wall Street Journal)
Citadel expects to return about $7 billion in profits to its clients on the back of what is expected to be its most profitable year ever, said people familiar with the firm, highlighting the banner year some hedge funds have had even as others nurse deep wounds. Citadel’s flagship fund gained about 32% for the year through November, benefiting from bets across the firm’s strategies, the people said. The firm plans to return some profits from all four of its funds in early January but still expects to start 2023 with more than $50 billion in assets under management, one of the people said.
Steve Cohen’s Mets Spending Spree Nears $500 Million With Correa (Bloomberg)
Steve Cohen’s late-breaking heist for the New York Mets shocked the sports world — and further cemented his status as baseball’s biggest spender. The billionaire investor, while reportedly on vacation in Hawaii, nabbed high-profile free agent Carlos Correa with a 12-year contract worth $315 million, sealing the deal while most Mets fans on the East Coast were asleep.
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Bridgewater Sets a Course for Net-Zero Investors (Pensions&Investments)
Bridgewater Associates, the world’s biggest hedge fund manager, is taking a swing at the issue of climate-conscious investing. In a new report titled “Pursuing Net-Zero Goals in Public Equities,” Bridgewater outlines ways of aligning stock portfolios with financial and sustainability goals. Last year, the firm introduced what it calls investment solutions aimed at doing just that.
Veteran $4,500,000,000 Crypto Hedge Fund Says ‘DeFi Is Superior’ – Here’s Why (The Daily Hodl)
A seasoned crypto hedge fund with $4.5 billion worth of assets under its management is asserting the superiority of decentralized finance (DeFi) ecosystems. In a new letter penned by CEO Dan Morehead and other executives, crypto hedge fund Pantera Capital says that the DeFi sector is head and shoulders above centralized finance (CeFi) due to its transparency and “rock-solid” foundations.
