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David Einhorn Had His Best Year in a Decade. How to Play His Revival.

Value investor David Einhorn had his best year in a decade in 2022. His hedge fund Greenlight Capital returned 36.6%, helped by short positions in a group of high-flying stocks, some winning long positions in the coal sector and Twitter. That compares with a negative 21% return on the S&P 500 SPX +0.49% …

Citadel Made $16 Billion For Investors Last Year, Breaking Hedge-Fund Records

Hedge-fund giant Citadel made $16 billion for its investors last year, the largest annual gain ever made by a hedge-fund firm, according to research from LCH Investments. Citadel’s gain, which was calculated after fees, is larger than John Paulson’s 2007 gain made during the subprime mortgage crisis, according to LCH Investments, part of the Edmond de Rothschild Group. The figures aren’t adjusted for inflation…

Hedge fund Eisler Capital hires Damien Bombelli

Eisler Capital has recruited Damien Bombelli, whose background in commodities could help the hedge fund bolster a less profitable part of its business, according to one source with knowledge of the move and a regulator filing. Bombelli, who has worked at investment firms and banks including Millennium Capital Management and JP Morgan Chase & Co…

Salesforce under siege from top activist hedge fund

Software giant Salesforce (CRM), one of the 30 stocks in the venerable Dow Jones Industrial Average, had a miserable 2022. Now the company is under attack from a big hedge fund that wants to shake things up at the company that owns Slack. Elliott Management, a firm that has taken activist stakes in Pinterest…

Mets owner Steve Cohen’s hedge fund Point72 reaps $2.4B windfall

New York Mets owner Steve Cohen’s Point72 hedge fund generated more than $2.4 billion in profits for investors last year. Point72, whose headquarters are located in Stamford, Conn., posted a 10.3% net gain in 2022 despite economic headwinds, according to data from LCH Investments, which was cited by Financial Times…

KKR Limits Withdrawals From Real-Estate Fund

KKR & Co. has limited how much money investors can withdraw from its private real-estate fund, joining fellow asset managers Blackstone Inc. and Starwood Capital Group Management in seeking to curb redemptions. New York-based KKR fulfilled just $79 million out of $128 million of withdrawal requests, or 62%, from its $1.6 billion KKR Real Estate Select Trust Inc., or KREST, for the redemption period ended Jan. 13, the firm said Wednesday in a Securities and Exchange Commission filing. KKR…

Big Hedge Funds Are Top Performers, for a Change

Lately, bigger is better for hedge funds. For the first time since 2018, larger hedge funds outperformed smaller hedge funds. The evidence: HFRI Fund Weighted Composite Index, which gives equal weight to funds of all sizes, fell -4.25% in 2022, while the HFRI Asset Weighted Composite Index, which gives more weighting to the larger funds, rose: 0.97%…

BlackRock Plans to Cut 500 Jobs in First Retrenchment Since 2019

BlackRock Inc. plans to dismiss about 500 employees, roughly 2.5% of its global workforce, after the world’s biggest asset manager grappled with sharp declines last year in equity and bond markets. “The uncertainty around us makes it more important than ever that we stay ahead of changes in the market and focus on delivering for our clients,” Chief Executive Officer Larry Fink and President Rob Kapito wrote Wednesday in a staff memo seen by Bloomberg…

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