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Global hedge funds, measured by the Bloomberg Aggregate Hedge Fund Index, climbed 0.2 percent in July, trailing stocks, as the MSCI All-Country World Index returned 1.4 percent on speculation the ECB would buy bonds to help cut borrowing costs and save the euro. Global macro funds advanced while long-short equity and multistrategy managers declined. MKP [...]
Click here to watch! Nathaniel E. Baker is the editor of Bloomberg L.P.’s Hedge Funds Brief. He was most recently a senior editor at The Deal LLC. He began his journalistic career at Institutional Investor, where he was managing editor of Alternative Investment News and contributed to The Journal of Alternative Investments, among others.
Hedge funds across strategies are decreasing their net exposures and increasing their cash levels, as the European debt crisis drives managers to protect capital. Net exposure among global equity long/short managers decreased to 13 percent in June, the lowest level in five years, from 22 percent in May, according to a JPMorgan chase & co. prime [...]
Passport Energy Fund, managed by John Burbank’s Passport Capital LLC, dropped 14 percent in June, bringing this year’s losses to 18 percent, according to a person familiar with the matter. Steve Bruce, a spokesman for Passport, declined to comment. Read more here>>
Chris Vogt, portfolio manager and global head of hedge funds at Allstate Investments LLC, the investment management arm of Allstate Corp., announced his resignation in an e-mailed statement dated July 16 and obtained by Bloomberg. Read more here>>
CQS U.K. LLP and Pine River Capital Management LP were some of the best-performing hedge funds in the first half of the year, producing double-digit gains for investors and topping benchmarks. Read more here>>
Western Research & Management LLC, the $150 million asset management arm of Fort Worth, Texas based Western Commerce Group LLC, may add as many as eight managers in the next 18 months, according to Managing Director Chris Pate. Read more here>>
Candlewood Structured Credit Fund Ltd. closed to new investors June 1 with about $622 million, according to its monthly update to investors, a copy of which was obtained by Bloomberg. The fund managed by New York-based Candlewood Investment Group LP in May completed its 17th straight month of positive returns, a record dating to its inception [...]
SAC Capital Advisors LP’s Steven Cohen was named to ARTnews’s top 10 art collectors list for his compilation of impressionist, modern and contemporary art. The magazine’s list of 200 top art collectors featured 11 other hedge fund managers: Centaurus Advisors LLC Founder John Arnold, for his collection of postwar and contemporary art, Highbridge Capital Management LLC’s [...]
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