Hedge Fund Viking Reopens Flagship Fund After Decade – Sources (Reuters)
U.S.-based Viking Global Investors has reopened its flagship long/short hedge fund for new capital having closed it more than a decade ago, according to three people familiar with the matter, as industry-wide equity hedge fund returns strengthen. Led by co-founder and Chief Executive Officer Andreas Halvorsen, Viking ended June with $26 billion in public equity assets under management, according to it website.
Activist Hedge Fund Turns the Screws at NRG Energy (Prospect.org)
Elliott Management is asking FERC to let it purchase up to one-fifth of the common stock in a Texas utility. A Houston-based power company has become the latest target of activist hedge fund Elliott Management’s efforts to drive up returns in the energy sector. Their brewing battle could test federal antitrust rules on investor ownership of public utilities. Last month, Elliott asked the Federal Energy Regulatory Commission (FERC) for permission to buy up to 20 percent of stock in NRG Energy, a power company with most of its generating capacity in Texas, which has recently ventured into selling smart meters.
This Hedge Fund’s Two Feuding Founders Are Under Pressure to Make Peace (The Wall Street Journal)
Questions from regulators and investors, plus one founder’s pending divorce, are forcing Two Sigma to address the rift. John Overdeck, co-founder of the hedge fund Two Sigma, has feuded for years with the $60 billion firm’s other co-founder, David Siegel. The pair are so much at odds that the firm disclosed in a securities filing that they are unable to make basic management decisions.
Image by Gerd Altmann from Pixabay
Alcur Strengthens Team with Experienced Trader (Hedge Nordic)
Stockholm (HedgeNordic) – Swedish fund boutique Alcur Fonder has hired Peter Guve to oversee trading for the boutique’s assets under management that exceed SEK 11 billion. Guve brings more than 30 years of experience in a trading capacity, having most recently served as a senior portfolio manager and trader at AMF Pension for eight and a half years. “We are very happy that Peter has chosen to join our team,” the team at Alcur Fonder comments on Peter Guve’s appointment. His employment is initially confirmed for the remainder of this year.
Bitwise’s Plan to Get Crypto Into More Institutional Portfolios: A Hedge Fund of Funds (Institutional Investor)
The past 18 months have been brutal for the cryptocurrency industry. Terraform Labs and its stablecoin collapsed; Three Arrows Capital and other companies filed for bankruptcy; and criminal and civil charges were filed against Sam Bankman-Fried, the founder and former CEO of FTX Group, for running a massive yearslong fraud. More recently, the Securities and Exchange Commission sued Coinbase Global, claiming it was operating as an unregistered broker-dealer.
