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HEDGE FUNDS
Major Fund Restructurings and Performance
The hedge fund industry witnessed significant structural changes this week, with Taconic Capital Advisors announcing a major overhaul that will see it shuttering its $1.8 billion flagship multistrategy hedge fund and shifting focus to North American credit and merger arbitrage. The changes will substantially reduce Taconic's $4.5 billion in assets as it spins out its European credit strategy and reworks its C-suite.
D.E. Shaw & Co. is breaking new ground by raising between $3 billion and $5 billion for its D.E. Shaw Cogence Fund, marking the firm's first hedge fund where human traders will call all the shots instead of algorithms. The fund, which is already oversubscribed with most initial capital coming from existing investors, will begin trading on October 1.
Performance varied widely among Tiger-related funds in August, with D1 Capital Partners leading the pack with a 24% year-to-date gain through August after adding one percentage point last month. Meanwhile, AlphaQuest, which added "Alpha" to its name in January, suffered an 11.4% loss through August and is down approximately 30% since October 2022, marking its worst losing streak since 2001.
Regulatory Developments
The SEC postponed hedge fund disclosure requirements by a year, with Chairman Paul Atkins announcing the delay until October 1, 2026, for private funds to file additional disclosure...................... To view our full article Click here
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