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Hedge Fund Manager Jampel Stops Shorting Fossil Fuel Stocks

- Bloomberg

A hedge fund manager who made a name for himself shorting fossil fuel stocks says the strategy is no longer viable, as oil’s ascent proves too strong to fight. James Jampel, the founder of Boston-based HITE Hedge Asset Management, said he still believes oil will lose steam in the longer term. But thanks in large part to the geopolitics of oil, that moment is further away than he once imagined and shorting fossil fuel producers has become untenable, he said…

European Crypto Asset Manager CoinShares Starts US Hedge Fund Division

- Bloomberg

CoinShares, one of Europe’s largest cryptocurrency asset managers, is starting a hedge fund division as it seeks to make inroads with American investors. The St. Helier, Jersey-based firm on Friday debuted the CoinShares Hedge Fund, which will be available to qualified US investors. CoinShares is known for its offerings of virtual-currency exchange-traded products, overseeing more than $2.5 billion in assets under management overall…

First Eagle Investments Establishes New High Yield Municipal Credit Team to Be Led by Veteran Investor John Miller

- Business Wire

NEW YORK–(BUSINESS WIRE)–First Eagle Investments (“First Eagle”) today announced that it has established a new High Yield Municipal Credit team. John Miller will join First Eagle on January 2, 2024, as Head and Chief Investment Officer of the High Yield Municipal Credit team, reporting to First Eagle President and Chief Executive Officer Mehdi Mahmud. The new High Yield Municipal Credit team expands the range of differentiated investment solutions First Eagle provides clients alongside the offerings of its Global Value, Small Cap, First Eagle Alternative Credit and Napier Park teams…

Hedge fund hiring from fintech and relocating JPMorgan quants

- efinancialcareers

Is this the year hedge funds take notice of fintech? First DE Shaw hired a fintech product manager in Singapore, now quant fund Qube Research & Technologies has hired from a fintech too. Qube recruited Ben Nicholas as a quantitative technologist from trading infrastructure fintech FlexTrade. He was a technical analyst at his previous employer, which specializes in algorithmic trading execution across equities and FX, which probably helped…

Ex-Morgan Stanley Prime Broker Plans $3 Billion Hedge Fund

- Bloomberg

Kurt Baker, a Millennium Management alumnus and former head of Morgan Stanley’s Asia prime brokerage, is seeking nearly $3 billion in capital commitments for a multi-manager hedge fund firm to rival the likes of Citadel in the region, according to a person with knowledge of the matter…

Goldman Sachs raises $15bn to buy stakes in private equity funds

- FT

Goldman Sachs has raised more than $15bn to buy investors’ stakes in private equity funds and invest in deals where buyout groups sell portfolio companies from one of their funds to another, in the latest sign of sustained support for the fast-growing “secondary” strategy…

US SEC cracks down on funds “greenwashing” with new investment requirement

- Reuters

Wall Street’s top regulator on Wednesday adopted a new rule cracking down on so-called “greenwashing” and other deceptive or misleading marketing practices by U.S. investment funds. The changes to the two decades-old Securities and Exchange Commission (SEC) “Name Rule” requires that 80% of a fund’s portfolio matches the asset advertised by its name…

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