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In the week ending September 29th 2023, authorities have arrested crypto fugitive Su Zhu, co-founder of the bankrupt digital asset hedge fund Three Arrows Capital. Liquidators handling the bankruptcy estate of the collapsed fund said Zhu was apprehended at Changi Airport in Singapore while apparently attempting to flee the country. Zhu and his co-founder, Kyle Davies, have both been sentenced to four months in prison, according to Teneo, the financial advisory firm handling 3AC's liquidation, according to a CNBC article.

Meanwhile, a report from HFR revealed that Emerging Markets hedge funds extended gains through mid-2023 as managers navigated a complex and evolving paradigm of risks ranging widely and in a volatile manner between persistently high inflation and the potential impact of additional rate increases, to the possibility of a US recession and weakening consumer demand. Industry wide hedge fund performance was driven by EM and Cryptocurrency funds through mid-year as investors positioned for these risks, while Asian currency weakness accelerated with the Japanese Yen and Chinese Yuan falling to historic lows against the US Dollar.

Meanwhile new data from hedge fund administrator Citco shows that fund of hedge funds had a positive first half of 2023, with the average fund returning 2.87% to end of June. 82% of funds delivered positive returns in the first half of 2023 - versus just 35% in the first half of 2022 and 43% for the full year 2022, Citco says.

In new launches, distressed debt specialist Michael Sutton is teaming up with a former Deutsche Bank AG colleague for one of ......................

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