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In the week ending July 04th 2025, the Financial Times reported that big hedge funds are pushing into private credit as they seek to establish themselves as diversified financial institutions, with Millennium Management, Point72 and Third Point all looking to launch new funds and strategies. Third Point, a $20bn firm with a history as an activist investor, plans to launch a publicly traded private credit fund next month called Third Point Private Capital Partners, which will lend directly to businesses.

Meanwhile, the biggest hedge funds added to their gains in June, sailing through the first half of the year amid global market chaos sparked by President Donald Trump's tariffs and the Israel-Iran war. Schonfeld's Fundamental Equity fund rose 2.5% last month, while the firm's flagship multistrat hedge fund Strategic Partners advanced 1.1%, according to people with knowledge of the matter. Balyasny gained 2.4%, while Marshall Wace's $26 billion Eureka hedge fund soared 6% in June through last Friday, erasing all prior losses in the year. Ken Griffin's Citadel and Izzy Englander's Millennium, which both lost money in a hectic March, each returned 1.7% in June in the firms' respective flagship funds, people close to the managers said. Citadel's six-month return now stands at 2.5%, while Millennium's is at 2.2%, lower than many of their smaller multistrategy peers.

Incidentally, several $500 million-plus to more than $1 billion hedge fund launches are on the horizon for the second half of this year and into 2026, helmed by chief investment officers and portfolio managers with pedigrees from firms including Citadel, Millennium Management, Viking Global Investors and Coatue Management. Avantyr Capital Partners, Taproot Management, Night Squared, Harvey Capital Partners and NX1 Capital are among the launches to watch, industry sources said. Others including Hunters Moon Capital and Atlantic Wolf Capital are already up and running......................

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