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Hedge Funds Kite Lake and Astaris Prepare to Close to New Cash

Livemint

Livemint · 11m ago

Hedge Funds Kite Lake and Astaris Prepare to Close to New Cash

Two London-based hedge funds, Kite Lake Capital Management and Astaris, are set to close to new investors despite the broader hedge fund industry experiencing significant outflows. Kite Lake will no longer accept funds into its $1.4bn KL Special Opportunities Fund from 1 October. Astaris, meanwhile, will close to new investors once assets reach €1bn ($1.1bn). The closures come as many smaller hedge funds struggle with outflows, with investors withdrawing $216bn between 2022 and 2023 and another $39bn this year through May.

Related News

DIFC to launch 'plug-and-play' Funds Centre to boost hedge fund growth

VCCircle

VCCircle · 4m ago

DIFC to launch 'plug-and-play' Funds Centre to boost hedge fund growth

Dubai International Financial Centre (DIFC) plans to introduce a 'plug-and-play' Funds Centre to accelerate hedge fund growth. This innovation aims to cut 'time to market' for investment managers by up to six months. As DIFC hosts over 6,900 active companies and 75 hedge funds, this initiative seeks to bolster the financial hub's position by offering efficiency and speed for new and existing hedge fund operations, enhancing the region’s financial landscape.

Hedge funds gain little from rally sparked by US-China trade deal

Economic Times

Economic Times · 3m ago

Hedge funds gain little from rally sparked by US-China trade deal

Hedge funds experienced minimal gains from a significant Wall Street rally driven by a U.S.-China trade agreement, according to a Morgan Stanley report. On Monday, hedge funds rose just 0.60% versus the S&P 500's 3.23% gain. Global portfolios have shifted away from U.S. investments due to trade war uncertainties, increasing bearish positions. Despite technology and AI stocks surging, hedge funds' reduced exposure to these sectors limited their profit from the rise.

BYJU’S Says Funds Parked In High-Security Fixed Instruments As Lenders Brouhaha Over ‘Missing’ $533 Mn

Inc42 · 1y ago

BYJU’S Says Funds Parked In High-Security Fixed Instruments As Lenders Brouhaha Over ‘Missing’ $533 Mn

Edtech startup BYJU'S has responded to allegations that it parked $533 million from its term loan B in an obscure hedge fund. The company stated that its offshore subsidiary remains the beneficiary of the funds, which have been invested in high-security fixed income instruments. BYJU'S denied reports suggesting they were no longer the owner of the funds and clarified that there are no requirements to maintain cash as collateral under the credit agreement. This comes amid an ongoing legal battle between BYJU'S and its lenders over missing funds.

Global hedge funds are boosting their presence in the long-shunned Indian market

Reuters · 1y ago

Global hedge funds are boosting their presence in the long-shunned Indian market

Global hedge funds are increasingly setting up operations in India, attracted by the country's growing depth and liquidity as well as its emergence as an alternative to investing in China. Funds such as Dymon Asia Capital and Citadel Securities are entering the Indian market, citing factors such as the economic opportunity, a rich pool of talent, and a stable regulatory environment. The surge in trading volumes has also made it easier for hedge funds to hedge positions and pursue long-short equity strategies. Some funds, including Gao Capital, are establishing infrastructure to trade derivatives in India. However, challenges remain, including regulatory requirements, taxation, and liquidity.

Goldman Trades Billions in Thames Water Debt as Hedge Funds Buy

Livemint

Livemint · 11m ago

Goldman Trades Billions in Thames Water Debt as Hedge Funds Buy

- Goldman Sachs has executed approximately £3 billion ($4 billion) of trades in Thames Water's bonds in September. - Hedge funds and distressed funds are actively bidding for the debt of Thames Water, the UK's largest water provider. - S&P Global Inc. and Moody's Ratings have downgraded Thames Water's Class A and B debt due to concerns over the company's cash flow. - Buyers are showing interest in the more illiquid and lower cash price bonds, as the market difference between shorter-dated and longer-dated bonds flatten. - Goldman Sachs has also traded Thames Water's bank debt, with £145 million changing hands since April. - S&P expects a debt restructuring and a potential default in the next 12 months, as Thames Water negotiates with creditors over options to address its liquidity shortfall.

Grapevine: Lenskart, Avendus, Actis, Data Sutram, Hero Future Energies, BofA, and Arshiya in news

VCCircle

VCCircle · 7m ago

Grapevine: Lenskart, Avendus, Actis, Data Sutram, Hero Future Energies, BofA, and Arshiya in news

Lenskart and Hero Future Energies are preparing for their IPOs, and Data Sutram is nearing the conclusion of a fundraising round. Meanwhile, Avendus Capital plans to close its hedge fund operations, and Actis LLP is poised to acquire Macquarie Group’s green unit.

Zerodha introduces ‘Privacy Mode’ on trading platform Kite; check details | Mint

Livemint

Livemint · 1y ago

Zerodha introduces ‘Privacy Mode’ on trading platform Kite; check details | Mint

Zerodha, a brokerage platform, has launched a 'Privacy Mode' feature on its trading platform, Zerodha Kite. The feature allows users to hide sensitive information concerning investments and trading positions. Traders can choose to hide real-time changes in profit and loss to avoid distractions and overtrading. The Privacy Mode is currently available for the Kite website and will soon be introduced for the Kite app as well. Zerodha is also working on adding more watchlist tabs for investors. To activate or deactivate the Privacy Mode, users need to select their Client ID or Profile icon and toggle the Privacy Mode button.

Hedge funds flip on solar and start betting against oil

Economic Times

Economic Times · 3d ago

Hedge funds flip on solar and start betting against oil

Hedge funds are shifting their investment strategy, betting against oil stocks and reducing shorts on solar stocks. This change, diverging from trends since 2021, aligns with concerns about oil supply-demand balance, influenced by increased oil production and economic slowdowns in the US and China. Hedge funds remained net short on oil stocks from October 2024 onwards, marking a strategic pivot amid expectations of rising global oil inventories and lower prices, especially anticipated in 2026.

MicroStrategy’s $2 Billion Bitcoin Buy Is Largest Since 2020

Livemint

Livemint · 9m ago

MicroStrategy’s $2 Billion Bitcoin Buy Is Largest Since 2020

MicroStrategy Inc., the software maker turned crypto hedge-fund proxy, recently purchased 27,200 Bitcoin for approximately $2.03 billion. This marks the largest Bitcoin purchase by the company since it began acquiring the digital asset more than four years ago. MicroStrategy's co-founder and Chairman, Michael Saylor, initiated the investment in Bitcoin as a hedge against inflation in 2020. The company initially used cash for purchases but has since shifted to using proceeds from stock issuance and sales, as well as convertible debt sales. The latest purchase brings MicroStrategy's Bitcoin holdings to around $23 billion.

The hot new market in crypto? Trading FTX's carcass

Economic Times

Economic Times · 1y ago

The hot new market in crypto? Trading FTX's carcass

The article discusses the emergence of a new market in trading the claims of FTX, a bankrupt cryptocurrency exchange. Investors are snapping up these claims at a fraction of their face value, speculating that FTX's new leadership will be able to recover a significant portion of the stolen funds and pay back the creditors. Hedge funds and investment firms are taking part in this trading frenzy, despite the risks involved. The market has also attracted some questionable participants, raising concerns about oversight. The article highlights the fast-paced and optimistic nature of this new crypto trading market.

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