Capstone Investment Advisors, a New York-based hedge fund, is planning to close its Hong Kong office after approximately four years of operation, reported Bloomberg. This move underscores the difficulties faced by newcomers in the region, who must contend with established firms such as Millennium Management and Point72 Asset Management, both of which boast substantial financial resources and over 15 years of operational experience in the area, reported the publication. Additionally, they are competing ag ...

Group 1 - Donald A. Steinbrugge is the Managing Partner of Agecroft Partners, a global consulting and third-party marketing firm for hedge funds [1] - Agecroft Partners engages with over a thousand hedge fund investors monthly and conducts extensive due diligence on hedge fund managers [1] - Steinbrugge has 28 years of experience in the investment management industry, including leadership roles at major hedge fund organizations and institutional investment management firms [1] Group 2 - Steinbrugge was a founding principal of Andor Capital Management, which became the 2nd largest hedge fund firm globally at the time of his departure [1] - Prior to Andor, he held significant positions at Merrill Lynch Investment Managers and NationsBank, contributing to their rankings as the 3rd largest investment manager [1] - Steinbrugge is involved in various investment committees and boards, including the Hedge Fund Association and the University of Richmond's Robins School of Business [1]

By Jonathan Stempel NEW YORK (Reuters) -A former quantitative researcher at Two Sigma Investments has been indicted for fraud, after allegedly manipulating the large hedge fund's algorithmic models to generate a $23.5 million payday for himself while causing $165 million of harm to clients, U.S. authorities said on Thursday. The U.S. Department of Justice said Jian Wu was indicted on wire fraud, securities fraud and money laundering charges. Wu, 34, a Chinese citizen who has lived in New York, also face ...

Famed investor Ray Dalio said American markets are heading for a financial “heart attack” — and gold may be the best medicine.Speaking at a panel for Abu Dhabi Finance Week, the Bridgewater Associates founder warned that surging US debt costs are clogging the economy the way plaque builds up in arteries.“A doctor would warn of a heart attack,” he said.Bridgewater founder Ray Dalio says American markets are heading for a financial “heart attack” — and gold may be the best medicine. Bianca Otero/ZUMA / Splash ...

By Marianna Parraga HOUSTON (Reuters) - A Delaware court is inclined to deny a motion made last month by miner Gold Reserve to disqualify a rival bid for the parent of Venezuela-owned refiner Citgo Petroleum from an affiliate of hedge fund Elliott Investment Management, Judge Leonard Stark said in a filing on Wednesday. The court is set to begin the final sale hearing next week in the court-organized auction of shares aimed to pay creditors for past expropriations and debt defaults by Venezuela. The hea ...

Core Insights - Advisors and investors are increasingly seeking alternatives to enhance and diversify traditional portfolios, with hedge fund strategies providing low correlation complements to stocks and bonds [1][2] - High management and entry fees have historically restricted access to hedge funds, but the emergence of hedge fund replication ETFs allows investors to capture industry strategies with lower costs [1][2] Hedge Fund Strategies - Hedge fund strategies typically offer reduced correlations to major asset classes and can capture trends beyond traditional portfolios, making them attractive during market volatility [2] - The traditional 2/20 fee model and high entry fees have been significant barriers for many investors, which ETFs aim to lower [2] HFND ETF Overview - The Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) provides a comprehensive approach for investors looking to enhance portfolio diversification by offering exposure to hedge fund industry returns within an ETF structure [3] - HFND aims for potential outperformance through fee savings and tax efficiency, without directly investing in hedge funds or replicating their holdings [3] Investment Strategy - HFND seeks to generate returns similar to various hedge fund sectors, including global macro, managed futures, and equity long/short, using publicly reported returns and fees for portfolio construction [4] - The portfolio is designed to offer similar volatility, returns, and correlations as the hedge fund industry, gross fees, primarily investing in ETFs and futures contracts [4] Performance Metrics - As of August 31, 2025, HFND generated a 30-day SEC yield of 1.99% and has management fees of 0.95%, allowing investors to capture hedge fund industry returns while mitigating single-manager and manager concentration risk [5]

The billionaire founder of Citadel, Ken Griffin, is shifting his focus from markets to philanthropy with Griffin Catalyst, a platform launched in fall 2023 to direct his charitable giving. The initiative builds on more than $2 billion in donations, targeting six priority areas, including education and healthcare, and civic life. Griffin views the effort as his blueprint for changing the country and cementing his legacy beyond finance, according to Business Insider. How Griffin Catalyst Reveals His Vision ...

By Svea Herbst-Bayliss NEW YORK(Reuters) -Blackstone Group, the world's largest hedge fund investor, is committing $250 million in start-up capital to a hedge fund run by a former portfolio manager at Fir Tree Partners, two sources familiar with the matter said. Sachin Gupta launched Covara Capital, a new opportunistic long-short credit investment manager, with capital from its $1.1 billion Strategic Alliance Fund IV, which backs new entrants in the hedge fund industry, and from other pools of company ca ...

Core Viewpoint - The article discusses the rapid rise of Leopold Aschenbrenner, a former OpenAI employee who was dismissed for allegedly leaking internal information, and his subsequent success in the investment field with a hedge fund that has significantly outperformed the market, particularly in AI-related investments. Group 1: Background of Leopold Aschenbrenner - Aschenbrenner was a member of OpenAI's "Superalignment" team and was considered close to the former chief scientist Ilya Sutskever before being fired for leaking internal information [7]. - He published a 165-page analysis titled "Situational Awareness: The Decade Ahead," which gained widespread attention in Silicon Valley [9][21]. - Aschenbrenner has a strong academic background, having graduated from Columbia University at 19 with degrees in mathematics, statistics, and economics, and previously worked at FTX Future Fund focusing on AI safety [16][17]. Group 2: Investment Strategy and Fund Performance - After leaving OpenAI, Aschenbrenner founded a hedge fund named Situational Awareness, focusing on industries likely to benefit from AI advancements, such as semiconductors and emerging AI companies [10]. - The fund quickly attracted significant investments, reaching a size of $1.5 billion, supported by notable figures in the tech industry [11]. - In the first half of the year, the fund achieved a 47% return, far exceeding the S&P 500's 6% and the tech hedge fund index's 7% [14]. Group 3: Insights on AI Development - Aschenbrenner's analysis emphasizes the exponential growth of AI capabilities, particularly from GPT-2 to GPT-4, and the importance of "Orders of Magnitude" (OOM) in evaluating AI progress [24][26]. - He identifies three main factors driving this growth: scaling laws, algorithmic innovations, and the use of massive datasets [27]. - Aschenbrenner predicts the potential arrival of Artificial General Intelligence (AGI) by 2027, which could revolutionize various industries and enhance productivity [29][30]. Group 4: Implications of AGI - The emergence of AGI could lead to significant advancements in productivity and efficiency across sectors, but it also raises critical issues such as unemployment and ethical considerations [31]. - Aschenbrenner discusses the concept of "intelligence explosion," where AGI could rapidly improve its own capabilities beyond human understanding [31][34]. - He highlights the need for robust governance structures to manage the risks associated with fully autonomous systems [31][36].

Investment Trends - Investors plan to increase investments in hedge funds [1] - Investors favor European and Asian markets over the US for the first time since 2023 [1] - Wealthy investors are diversifying asset allocation away from the US [1] Regional Allocation - Europe is the region with the highest investment allocation, with 37% of investors increasing funds in the first half of the year [1] - 33% of allocators plan to increase funds in Europe in the second half of the year [1] - US and Asian hedge funds account for nearly half (47%) of inflows [1] - Approximately one-third of respondents plan to increase investments in Asia-Pacific and European hedge funds [1] - 14% of respondents plan to invest in North American hedge funds [1]