Billionaire Hedge Fund Managers Cohen, Dalio Tout Cryptocurrencies (Reuters)
NEW YORK (Reuters) – Billionaire investors Steven Cohen and Ray Dalio have joined the cryptocurrency craze by putting cash to work and saying at a conference this week that bitcoin and other digital currencies are an interesting way to diversify their holdings. Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, told attendees at the SALT conference in New York on Wednesday, “I have more crypto than gold.”
Olaf Carlson-Wee’s Polychain Capital Co-Leads $230 Million Investment In Ethereum Challenger Capitalizing On DeFi (Forbes)
Ethereum challenger Avalanche has raised a $230 million investment led by Olaf Carlson-Wee’s Polychain Capital and Singapore-based hedge fund Three Arrows Capital. Announced today, the capital raise, conducted as a private sale of the platform’s AVAX token, closed in June and also included investors such as R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital as well as a group of angel investors and family offices.
Young Östlin Replaces Departing Founder (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic Cross Small Cap Edge is undergoing a change in portfolio management after one of Nordic Cross Asset Management’s founding partners, Mikael Hanell, left the asset manager for new challenges. Hanell’s role as portfolio manager responsible for Nordic Cross Small Cap Edge is assumed by Oscar Östlin, who will co-manage the small-cap-focused long/short equity fund alongside Ulf Strömsten.
Altana’s Distressed Opportunities Hedge Fund Sizes Up Equity and Credit Trades in “Forgotten” Oil Services (Hedge Week)
Altana Wealth, the credit, currency and special situations-focused hedge fund led by former Trafalgar Asset Managers co-founder Lee Robinson, is circling the restructuring and consolidation opportunities arising from the rebound in demand for oil and gas post-Covid. The firm’s Altana Distressed Opportunities Fund, which seeks out investment ideas in neglected corners of capital markets, is zeroing in on the offshore oil and gas services sector.
Hedge Fund Performance Update: August 2021 (Preqin)
The Preqin All-Strategies Hedge Fund benchmark returned +1.59% in August, turning the tide on July’s -0.51% and pushing the 12-month return to +25.00%. This heatmap presents the hedge fund performance benchmarks for August 2021. Plus, the YTD and 12-month returns for all top-level strategies, structures, denominations, and size classifications.