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MAJOR HEDGE FUND DEVELOPMENTS Elliott Management Raises USD 7 Billion War Chest

Paul Singer's Elliott Management is positioning for a major offensive with a new USD 7 billion global opportunities fund, marking one of the largest fundraises in recent hedge fund history. The capital will be deployed as needed using a private equity-style mechanism, targeting distressed credit, special situations, and activism campaigns as opportunities arise. This massive fundraise underscores Elliott's confidence in upcoming market dislocations and its ability to capitalize on corporate restructurings. The firm, which manages approximately USD 76 billion in total assets, has been increasingly active in large-cap activism, including recent campaigns at Southwest Airlines and British Petroleum. Read more about Elliott's fundraising at Opalesque.com

Bill Ackman's Pershing Square has allocated over one-fifth of its USD 13.7 billion portfolio to a single stock - Uber Technologies (UBER) - reflecting extraordinary conviction in the ride-hailing giant's future. The hedge fund holds approximately 30.3 million shares worth over USD 2 billion, making Uber its largest position at 20.59% of the portfolio. Ackman believes Uber trades at a massive discount to its intrinsic value despite the stock's strong performance, citing the company's potential in autonomous vehicles as a USD 1 trillion-plus opportunity. This high-concentration approach exemplifies Pershing Square's philosophy of making large bets on high-conviction ideas where they see significant value creation potential.

Two Sigma is closing its USD 120 million Eclipse fund, a legacy vehicle launched in the earl......................

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