Opalesque Exclusive: The banks trade is not over: Edward Lam on holding a differentiated book through AI rotation... [more]Matthias Knab, Opalesque for New Managers: Eight months after delivering 57% without benefiting from AI, Edward Lam is flat for the year - and heading into what he believes is a materially better setup, with a qu

Pictet AM's Doc Horn: Hedge funds offer uncorrelated sources of returns... [more]Pictet Asset Management's $10.5bn hedge fund franchise spans six areas including multi-strategy, equity long/short, systematic equity, event-driven and fixed income. Its core multi-strategy fund allocates to around 20 internally managed strategies, with Horn arguing that low correlations between

Ray Dalio predicts a debt crisis within 3 years as we're 'approaching our limits'... [more]Bridgewater founder Ray Dalio expects the US to face a debt crisis within the next three years, pointing to national debt above $40tn and annual debt-servicing costs exceeding $1tn. He also warned that debt-funded AI investment could contribute to overinvestment and a technology bubble while widenin

IMF says hedge funds' market footprint growing, merits closer scrutiny... [more]The IMF says hedge fund assets have more than tripled over the past decade, reaching roughly $13tn in early 2026 compared with $4tn in 2013. Hedge funds now account for about 9% of the US Treasury market, and the IMF warned that leverage and limited transparency could amplify financial stress even t

Hedge funds warn BoE repo reforms could backfire... [more]The Alternative Investment Management Association has warned the Bank of England that proposed reforms to the gilt repo market, including expanded central clearing, could create new vulnerabilities and reduce liquidity during market stress. Hedge funds account for about GBP85bn of the roughly GBP200

Two Sigma co-founder John Overdeck wins bid to protect hedge-fund secrets from going public... [more]Two Sigma co-founder John Overdeck has won permission for parts of financial expert testimony in his divorce case to be heard privately to protect sensitive information about the $80bn hedge fund. His estranged wife Laura is seeking 35% of his stake in Two Sigma, which her lawyers value at $6.2bn, w

Overdeck's wife tells ex $633m divorce settlement was not enough... [more]Laura Overdeck is seeking a larger share of the fortune of her estranged husband, Two Sigma co-founder John Overdeck, after rejecting a proposed settlement worth more than $600m. Her lawyers argue that she is entitled to 35% of his Two Sigma stake, which they value at $6.2bn, while his lawyers value

SCOTUS Intel hearing focuses on 'meaningful' fund benchmarks... [more]US Supreme Court justices focused on what constitutes a "meaningful benchmark" when evaluating investment performance in ERISA retirement-plan lawsuits. The Intel case asks whether participants alleging that a plan investment underperformed must identify an appropriate comparison benchmark in their

From Wall Street to Palm Beach: High-profile New Yorkers head to Florida as 'Mamdani migration' grows... [more]Wealthy New Yorkers are showing increased interest in relocating to South Florida as Mayor Zohran Mamdani's tax agenda adds a political dimension to a migration trend that predates his administration. More than 125,000 people have moved from New York City to Florida since 2020, taking an estimated $

Leopold Aschenbrenner net worth... [more]Leopold Aschenbrenner is a German-born AI researcher, writer and hedge fund founder whose current net worth is estimated by the publication at $300m. It says his paper fortune briefly reached about $5bn in mid-2026 when Situational Awareness reportedly managed as much as $45bn, before the fund's sub

KKR leans further into funds administration with $5.1 billion acquisition... [more]KKR has agreed to acquire Gen II Fund Services from Hg, General Atlantic and other minority investors at a total enterprise value of $5.1bn. Gen II provides fund administration services to more than 275 investment managers representing over $2tn in assets, and the transaction is expected to close in

Tikehau opens credit fund to wealth managers via iCapital... [more]Tikehau Capital has made its European private credit strategy available through iCapital Marketplace as it seeks more capital from wealthy investors. The Luxembourg-domiciled evergreen ELTIF primarily invests in first-lien senior secured debt issued by European companies and will be available to eli

Brevan Howard to use Ripple Prime for multi-asset brokerage, clearing and financing... [more]Ripple Prime will provide prime brokerage, clearing and financing services across traditional and digital markets to funds managed by the approximately $35bn Brevan Howard. The agreement expands an existing relationship that includes Brevan Howard affiliates' participation in Ripple's $500m strategi

Crypto exchange OKX raises at $25 billion from StanChart, Circle... [more]Crypto exchange operator OKX has raised new funding at a $25bn valuation from investors including Circle, Ripple, Standard Chartered's SC Ventures and hedge fund Qube Research & Technologies. The company did not disclose the amount raised, but said the financing extends a March round in which Interc

CSSF publishes first version of its FAQ on fund tokenisation... [more]Luxembourg's CSSF has published the first version of its FAQ addressing fund tokenisation, providing regulatory guidance for the growing use of distributed-ledger technology in investment funds. The publication forms part of the regulator's evolving framework for tokenised fund structures and follow

Tesco most crowded long in UK retail as hedge funds stay short on fashion sector... [more]UBS's proprietary crowding framework shows Tesco remains the most heavily owned stock among hedge funds in European retail, ranking first out of more than 550 stocks in the bank's broader coverage universe. Next holds second place in the crowding rankings. Marks and Spencer has climbed to third, up

Segantii trial nears finish as lawyers make closing arguments... [more]Segantii Capital Management founder Simon Sadler returned to a Hong Kong court as prosecutors delivered closing arguments in the hedge fund's high-profile insider-trading trial. The charges relate to Segantii trades in fashion retailer Esprit Holdings in June 2017 before US hedge fund Lone Pine Capi

And, finally: Better pee in your pants next time?... [more]From Newsoftheweird: Gotta Go, Gotta Go: Anxious to heed nature's call, a man in Rosenberg, Texas, crashed his car into a Kroger on purpose. In the wee morning hours of Sunday, Sept. 27, the unidentified man, who police later learned was upset that the store was locked, drove his car through the pha