$3.1tn of private capital AUM committed to ESG investing... [more]Laxman Pai, Opalesque Asia: There are $3.1tn of private capital assets under management (AUM) by firms that are committed to ESG investing as of October 2021, said a study. This compares with $8.52tn of private capital AUM globally or 36% of the total, said Preqin's ESG in Alternatives Report

Hedge fund superstars can't master yield curves... [more]From Bloomberg: Billionaire Chris Rokos's $14.5 billion macro fund lost 11% this month as rates fluctuated wildly. And he's probably not alone. It has been an absolutely awful year for some of the world's most well-regarded macro hedge funds. First, Bloomberg News revealed in early August that

Investor confidence jumps 8.4 points in September to 114.4... [more]The Global Investor Confidence Index increased to 114.4, a rise of 8.4 points from September's revised reading of 106.0. The increase in investor confidence was led by North American ICI, which rose 8.0 points to 144.0. Asian ICI was up a more modest 5.5 points to 103.1, and European ICI ticked up 1

New Launches: US hedge fund launches equity long/short Ucits strategy in Europe, Andreessen Horowitz plans to raise roughly $6.5bn for new venture funds, Sequoia Capital creates evergreen fund to hold public stocks, Timber Bay Partners closes Fund II on $305m, Certior Capital raises $348m for Credit Opportunities Fund III, Invesco launches ESG version of $200bn exchange traded fund... [more]US hedge fund launches equity long/short Ucits strategy in Europe From City Wire: Boston-based Invenomic has partnered with Waystone to launch a US equity long/short fund on the MontLake Ucits platform. The Invenomic US Equity Long/Short Ucits fund will be run by Invenomic Capital Manag

BlackRock's hedge fund star gets paid more than CEO Larry Fink... [more]From Bloomberg: Meet Alister Hibbert, one of BlackRock Inc.'s best kept secrets. He's the money manager whose hedge fund has enriched the firm, its clients and himself with a near 370% gain over the past decade. Hibbert's name is rarely mentioned within the walls of the world's largest asset

Institutional Investors: KIC to raise alternative investments to 25% by 2027, New York State Common pledges $2.37bn in alts commitments, Border to Coast sets pacing for $1.8bn in alternatives in 2022, ATP's Q3 investment returns dip from record Q2; steps up gearing, Claremont McKenna endowment returns 43.3% for fiscal year, University of Rochester posts 41.7% fiscal-year return... [more]KIC to raise alternative investments to 25% by 2027 From KED Global: Korea Investment Corp. (KIC) plans to increase alternative investments to a quarter of its portfolio by 2027 from the current 16%, its CEO Jin Seoungho reiterated on Oct. 27. "Alternative investments cannot help

Investing: Tybourne liquidates Peloton stake, Value stocks misfire as JPMorgan's hedge-fund clients trim bets, Temenos shares spiked before news report on takeover... [more]Tybourne liquidates Peloton stake From Institutional Investor: The Tiger Grandcub is the first hedge fund firm to file its third-quarter 13F. Here are its other major moves. Tybourne Capital unloaded its entire stake in Peloton Interactive, makers of the popular, high-end exercise

SPACs: Investment banks argue Hong Kong's proposed SPAC rules are too rigid, DWAC, the Trump social-media SPAC, could make its backers $440m, Ex-Barclays banker Azar sees more SPAC scrutiny after crackdown, Brazilian asset manager's SPAC Crescera Capital Acquisition lowers deal size by 13% ahead of $175m IPO... [more]Investment banks argue Hong Kong's proposed SPAC rules are too rigid From Reuters: Investment banks and corporate advisors are pushing back against Hong Kong's proposed rules for blank check listings, arguing they are too onerous and will not make the city competitive, three sources wit

People: Coinbase hires investment bank vet to head new institutional unit, CPPIB names first sustainability chief in ESG push... [more]Coinbase hires investment bank vet to head new institutional unit From The Street: Coinbase has tapped an investment banking and hedge fund veteran to run a new business unit tasked with building relationships with institutional cryptocurrency allocators. Paul Magahis joined Coinb

Crypto: U.S. regulators barely corralling feverish bitcoin mania, DFSA approves Canadian Bitcoin fund on Nasdaq Dubai, The crypto millionaires in Puerto Rico are showing increasing interest, Latin America stands to benefit most from crypto... [more]U.S. regulators barely corralling feverish bitcoin mania From Reuters: Insatiable demand for bitcoin is forcing U.S. regulators to walk an increasingly fine line between opening up the booming market to investors, and shielding them from what is still a highly speculative, volatile and

Commodity: Hess adds oil hedge that would lose money at Brent over $95... [more]From Bloomberg: Hess Corp. said it has expanded its 2022 hedging in Brent oil as prices rallied this month. Since the end of September, Hess doubled its cover in global benchmark Brent for next year to 60,000 barrels a day and enlarged its hedging in West Texas Intermediate for the same perio

U.S.: Billionaire tax proposal sets ultra-rich on the hunt for ways to avoid it, The best market strategists in the U.S.... [more]Billionaire tax proposal sets ultra-rich on the hunt for ways to avoid it From Bloomberg: Democrats' proposal for a tax on billionaires is already spurring questions about how the sweeping new levy would be implemented and how America's wealthiest -- and their sophisticated advisers --

Asia: India to amend FDI rules for its biggest IPO ever, Temasek launches $3.3bn investment platform for firms eyeing global expansion, Future Fund and NZ Super hone in on green infrastructure assets, China simply 'too big to ignore' for long-term investors... [more]India to amend FDI rules for its biggest IPO ever From Asia Fund Managers: One of Asia's life insurance giants, Life Insurance Corporation of India (LIC) is coming out with its Initial Public Offering (IPO) by the next year. For India's largest-ever public offering, the government is co

PE/VC: Private equity M&A frenzy has cautious undertones, Venture capital exit values soar, Private equity and venture capital drove outsized returns at Bowdoin, Harvard, and the University of Pennsylvania, Private equity tops explosive tech growth as returns rocket... [more]Private equity M&A frenzy has cautious undertones From Reuters: Private equity dealmakers are in two minds. Buyout barons, led by titans like Blackstone boss Steve Schwarzman, are on track for a record year for takeovers. Yet they're also offloading companies at a much faster pace than

Study: Why advisors are embracing alternative investments... [more]From Barrons: Stocks, bonds, and cash, the three traditional pillars of an investment portfolio, are looking a little wobbly lately. Inflation-adjusted yields on cash are negative. Bonds are being squashed by interest-rate fears. And stocks are historically expensive. To meet investors' needs

ESG: Hedge funds fall short in diversity efforts, AQR and MFS partner with MIT to solve ESG data problem, ISIF backs new Generation climate solutions investment business, Ircantec sets 2030 deadline for non-1.5?C-aligned oil and gas holdings, Just 0.5% of $27trn global funds assets are Paris-aligned... [more]Hedge funds fall short in diversity efforts A year-long study of hedge fund personnel moves in the U.S., Europe/U.K. and Asia by HFObserver and Solomon Page shows evidence that hedge funds are failing to measure up when it comes to diversity hiring. Among the findings, 71 percent

Legal: Hedge fund manager set up Irish fund to carry out cum-ex scheme... [more]From Irish Times: A Dubai-based hedge fund manager set up a fund in Ireland to claim tens of millions of euro in tax refunds from European authorities in trades now under investigation for suspected tax evasion. The trades were part of a scheme known as cum-ex, which allowed a network of traders

Activists: Hedge fund Third Point buys stake in Shell, urges breakup, Third quarter results may help GSK fight hedge-fund attackers... [more]Hedge fund Third Point buys stake in Shell, urges breakup From Reuters: Hedge fund Third Point has built a large stake in Royal Dutch Shell (RDSa.L) and called on the oil major to split into multiple companies to increase its performance and market value. Billionaire investor Dani

News Briefs: SBAI publishes a toolkit for the implementation of ESG in different alternative asset classes... [more]Opalesque Industry Update - The Standards Board for Alternative Investments (SBAI), a global alliance of alternative investment managers and allocators and custodian of the Alternative Investments Standards, released the next instalment of its work on Responsible Investment. A toolkit for asse

And finally: Iceman... [more]From BizarreNews: A Lithuanian man put his endurance to the test by spending 3 hours and 1 minute submerged up to his neck in ice to break a Guinness World Record. Valerjan Romanovski took on the Guinness record for longest duration of full body contact with ice by climbing into a glass container fi