Asset managers take advantage of strong capital markets, boos headcount, and compensation... [more]Laxman Pai, Opalesque Asia: Listed asset managers, which hit record revenues and assets under management in the first quarter of 2021, are increasing their overall headcount and compensation said a study. According to asset management strategy consultant Casey Quirk, a Deloitte business, many

Mill Road Capital launches fund to push for diversity among boards... [more]Laxman Pai, Opalesque Asia: The Greenwich-headquartered investment firm Mill Road Capital is set to roll out its Mill Road Progressive Governance (MRPG) fund in the second quarter of 2021, with an initial target of $500 million. According to a press release from the investment firm, MRPG's obj

Good news continues for hedge funds as 2021 performance, flows remain strong, Hedge fund assets grow nearly 40% YoY after posting $23.3bn in April net inflows... [more] Good news continues for hedge funds as 2021 performance, flows remain strong Opalesque Industry Update - Nearly half-way through 2021, the global hedge fund business continues to see strong performance and asset flows, with performance gains and new money boosting the industry to a new

How a hospital's $4bn hedge fund program reaped returns of over 20%... [more]From Institutional Investor: While some institutions have been rapidly decreasing their allocations to hedge fund investments, a Connecticut-based hospital system's decision to stay invested is paying off. Hartford HealthCare's hedge fund program returned 23 percent during 2020, according to

New Launches: Morgan Stanley starts new fund to build more diverse businesses, Banner Ridge surpasses $600m target for new fund, Hines unveils ambitious new ESG strategy... [more] Morgan Stanley starts new fund to build more diverse businesses From Bloomberg: Morgan Stanley's investment division started a new fund to invest in early-stage companies with diverse founders, winning initial backing from Microsoft Corp., Walmart Inc. and Hearst Corp. for the venture.

Brevan Howard shuts main fund to new cash as fortunes improve... [more]From Bloomberg: Brevan Howard Asset Management has stopped accepting new cash into its two biggest multi-manager funds after the firm's record year of performance swelled the money pools. Assets in the Brevan Howard Master Fund, its main strategy, have more than doubled since the start of las

Hedge funds not doing enough to fix mispricings, study finds... [more]From Risk: Hedge fund managers like to say they keep markets honest by shorting overvalued assets and buying those that look cheap. In reality, though, many seem to have adopted an "if you can't beat them, join them" strategy that may be contributing to greater volatility in financial markets.

Institutional Investors: Alaska Retirement to lift real assets allocation, expects strong returns, China-based institutional investors increasingly favor ESG... [more] Alaska Retirement to lift real assets allocation, expects strong returns From IPE: Alaska Retirement Management Board (ARMB) is planning to reduce its weighting to fixed income in favour of its real assets portfolio. The pension fund said in a meeting document that it intends to

Investing: Bill Ackman on Universal: "I was like the dog that grabbed the bumper and wouldn't let go," he told investors, Reddit hates short sellers, but the stock market needs them... [more] Bill Ackman on Universal: "I was like the dog that grabbed the bumper and wouldn't let go," he told investors From Institutional Investor: Last November, when Bill Ackman was introduced to Universal Music Group by one of his SPAC's board members, the hedge fund manager was blown away.

SPACs: Despite slowdown, SPACs continue to be viewed as avorable investment opportunities, Embark Trucks announces SPAC merger with Northern Genesis, Carlyle-backed Syniverse is in M3-Brigade SPAC merger talks... [more] Despite slowdown, SPACs continue to be viewed as avorable investment opportunities Katten conducted a survey of 80 investment professionals in March and a follow-up survey of another 100 investment professionals in May that showed 72 percent of investors working in private equity, vent

People: Cowen expands capital introduction team with two former hedge fund execs, CPPIB's global head of private equity investing departs for Northleaf Capital, NZ Super Fund names new head of asset allocation... [more] Cowen expands capital introduction team with two former hedge fund execs From The Global Custodian: Cowen has expanded its capital introduction team with the appointment of two former buy-siders from hedge funds Bright Stream Capital Management and PNC Asset Management. The prime

Crypto: Bitcoin Fund breaks new ground in Middle East with debut on Nasdaq Dubai, JPMorgan survey: 49% of institutional investors agree cryptocurrency is 'rat poison', Cryptocurrency experts say these 4 factors are driving change in the industry... [more] Bitcoin Fund breaks new ground in Middle East with debut on Nasdaq Dubai From Reuters: The Bitcoin Fund QBTCu.TO debuted on the Nasdaq Dubai on Wednesday, becoming the Middle East's first listed cryptocurrency fund. The fund, which was listed by Canadian digital asset management

M&A spree piles debt on Europe Inc. at fastest pace since 2018... [more]From Bloomberg: M&A is back on the menu for Europe Inc. and that's bad news for bondholders. The region's corporates have emerged from the pandemic in a spending mood -- ready to dole out cash on buyouts, dividends, buybacks -- all in the name of winning over shareholders, even if that means imposin

U.S.: Harvard wasn't pressured over Toshiba, former Japan adviser says, Fannie-Freddie ruling marks latest blow to funds in doomed trade, AI Global Investors partners with Duo Reges Capital Management... [more] Harvard wasn't pressured over Toshiba, former Japan adviser says From Reuters: A former Japanese government adviser said he did not put pressure on Harvard University's endowment fund to influence its voting at Toshiba Corp's contested shareholder meeting last year, and that the fund s

Europe: Andurand sees record carbon heading even higher on EU reforms, Germany's newly announced FoF to mobilise capital from institutional investors... [more] Andurand sees record carbon heading even higher on EU reforms From Bloomberg: Andurand Capital Management, a hedge fund mostly known for its big bets on oil prices, expects the cost of polluting to surge even more in Europe as the region unveils key reforms to its emissions market to m

MENA: Kuwait's $134bn pension fund has record gain in turnaround, Qatar's wealth fund says crypto needs to mature after wild ride... [more] Kuwait's $134bn pension fund has record gain in turnaround From Bloomberg: Kuwait's Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse despite political deadlock in the country. The $134 billion pension fu

Asia: China's crackdown on big tech will last for a while... [more]The Chinese government's crackdown on big technology companies will likely last for a few years, which means those stocks aren't a buy for now, a BlackRock portfolio manager said Wednesday. Since autumn, regulators have ramped up scrutiny on the country's tech giants such as Alibaba and Tencen

PE/VC: Private equity faces off hedge fund shorts in bid for U.K. Plc, Private equity reaping pandemic windfall as US economy is hottest since 1984... [more] Private equity faces off hedge fund shorts in bid for U.K. Plc From Bloomberg: Hedge funds saw a consumer company set to struggle as the U.K. emerges from the pandemic and grapples with the aftermath of Brexit. A private equity giant saw a buying opportunity. Wm Morrison Supermar

Study: Money managers want to return to office, Investors burned by fraud get better at detecting future bad actors... [more] Money managers want to return to office Money managers are returning to the office, said results of a new survey from investment management executive recruiting firms Odyssey Search Partners and JSB Partners. Of the 92 investment management professionals surveyed between June 4

ESG: How to separate real ESG funds from the not-so-real, Polluting energy firms offer tempting private debt returns... [more] How to separate real ESG funds from the not-so-real From Bloomberg: Worldwide, there are more than 600 exchange-traded funds that claim to follow the principles of environmental, social and governance investing-in one way or another. But how many of them really do? This is now a

Activists: GlaxoSmithKline talks up growth prospects as activist investor Elliott looms... [more]From WSJ: Pharmaceutical giant GlaxoSmithKline PLC pledged to accelerate growth and gave further details of the long-planned separation of its consumer-healthcare business, as it seeks to ward off a potential clash with activist investor Elliott Management Corp. The British company said Wednes

News Briefs: ISS criticizes Sculptor Capital's compensation structure and opposes re-election of chair, Pensions Congress: 'Alternative credit regulatory arbitrage could disappear'... [more] ISS criticizes Sculptor Capital's compensation structure and opposes re-election of chair From Institutional Investor: One of the most influential proxy advisory firms fired off a report critical of several of Sculptor Capital Management's compensation practices and recommended shareho

And, finally: The camouflage that's just too perfect... [more]From UPI: A nature reserve in Russia said a nature camera disguised as a piece of bark had an unintended consequence when it was destroyed by a hungry woodpecker. The Nizhne-Svirsky Nature Reserve in Leningrad Oblast said in a Facebook post that the black woodpecker, nicknamed Zhelna by resea