D.E. Shaw Group Energy Head Jeff Myers Retiring (Wall Street Journal)
Jeff Myers, head of energy-trading strategy for hedge-fund firm D.E. Shaw Group, is retiring after one of the firm’s energy funds suffered a large loss last year. The $32 billion firm lost 28% in its Plasma fund last year, including an 18% drop in December, according to people with knowledge of the matter. The fund, with about $650 million in assets, was on track to suffer additional losses in January.
Deutsche Bank Veteran Dixon Plans $200M Hedge Fund Launch (FINalternatives)
Former Deutsche Bank AG (USA) (NYSE:DB) mortgage trader Troy Dixon will launch his first hedge fund this summer with $200 million in initial assets. Dixon founded Hollis Park Partners in New York after leaving Deutsche Bank in October. The firm’s first fund is expected to launch in July, he told Bloomberg News. Hollis Park will focus on “the entire suite of products within the structured mortgage finance space,” the firm said in a marketing document. The new hedge fund features Glenn Morrison as chief operating office and former CRT Capital Group securitized product co-head Joseph Valentine.
Pimco’s Bill Gross Says He Avoids China ‘Mystery Meat’ (Bloomberg)
Bill Gross, who oversees the world’s biggest bond fund at Pacific Investment Management Co., said the pace of economic growth in China is among the biggest questions in developing nations and the largest risks for markets. “I call China the mystery meat of emerging-market countries,” Gross said yesterday during an interview on Bloomberg Television’s “Market Makers” with Erik Schatzker and Stephanie Ruhle. “Nobody knows what’s there and there’s a little bit of bologna, so we’re just going to have to wonder going forward through this year as to the potential problems in China and other emerging markets.”
Nomura Adds C8 Sales Chief (FINalternatives)
Nomura Holdings, Inc. (ADR) (NYSE:NMR) has added a hedge fund distribution chief to cover equity sales in Europe. Mike Ward has returned to banking after a nearly two-year stint with C8 Investments, a quantitative hedge founded by a pair of BlueCrest Capital Management veterans. Ward joined the hedge fund from Bank of America Merrill Lynch, where he was head of European equity sales.
Soros Fund Management Discloses New Massive Stake in Polycom Inc (PLCM) (Insider Monkey)
Soros Fund Management, managed by George Soros, has disclosed, in a new filing with the SEC, ownership of 9.40 million shares of Polycom Inc (NASDAQ:PLCM). The stake amasses 6.95% of the company’s common stock and represents a new position in the fund’s equity portfolio. At the current stock price of the company, the value of the holding amounts to approximately $110.17 million.
