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☆ How the hedge fund superstar went extinct
▼ + stars: | 2024-07-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

But for now, we're examining how the hedge fund superstar has gone extinct . The big storySo long, superstarGetty Images; Alyssa Powell/BIWhere have all the hedge fund superstars gone? AdvertisementIn years past, even rubbing shoulders with a legendary hedge fund manager was enough for aspiring fund managers to raise capital. Meanwhile, the hedge fund industry has also evolved. Aaron Weiner, a 31-year-old from Coatue, got a multibillion-dollar check from Millennium for his to-be-launched hedge fund .

Persons: —, Kamala Harris, Harris, Alyssa Powell, Insider's Linette Lopez, Julian Robertson, Griffin's, Izzy Englander's, Goldman Sachs, Jared Siskin, Bobby Jain, it's, Aaron Weiner, Jonathan Xiong's, Maja Hitij, Carl Godfrey, Apple, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Democratic, Democratic Party Convention, Business, Getty, Management, Goldman, Madison, Park Conservancy, Citadel, Credit Suisse, Jain, ExodusPoint, Investment Partners, Blackstone, Elon Musk's, Big Tech, Bank of America, BI Founders, Forge, Apple, Google, General Motors Locations: Venture, Wall, Park, Coatue, Miami, London, New York

☆ Biden digs his heels in while Trump secures another win
▼ + stars: | 2024-07-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at President Joe Biden showing no signs of giving up his reelection campaign while former President Donald Trump secured a win from the Supreme Court . AdvertisementBiden's campaign has been in full-blown crisis mode after the president's disastrous debate against former President Donald Trump last week. AdvertisementMeanwhile, Trump secured a big win in his immunity case . The Supreme Court ruled that former presidents don't get absolute immunity from criminal charges related to actions under the scope of the presidency, but they do get some. 3 things in techStefani Reynolds/BloombergBig Tech gets a big win from the Supreme Court.

Persons: —, Joe Biden, Donald Trump, he's, Biden, Allison Joyce, Getty, Tyler Le, he'd, it'd, John L, Dorman, Biden's, Manuel Balce Ceneta, Jacquelyn Martin, Kamala Harris, Gavin Newsom, Gretchen Whitmer, Harris, isn't, Trump, don't, Justice Sonia Sotomayor, Alyssa Powell, David Kelly, Jonathan Xiong, Blackstone, Keith Lerner, Truist, Stefani Reynolds, OpenAI, It's, Gen Zers, Kevin Costner's, Kevin Costner, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Michelin, Business, The New York Times, Biden, Democrats, Trump, Justice, Getty, Citadel, Bloomberg Big Tech, ChatGPT, Atlantic Locations: Manhattan, Asia, Millennium, New York, London

☆ How a former Millennium exec's new $1 billion hedge fund is standing out from a sea of multistrategy choices
▼ + stars: | 2024-07-01 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Arrowpoint, a $1 billion multi-strategy fund from former Millennium exec Jonathan Xiong, launched Monday. AdvertisementSome of the world's biggest hedge fund investors are backing former Millennium executive Jonathan Xiong's new Arrowpoint Investment Partners. The Asia-based multistrategy fund is launching with $1 billion and has secured big-name allocators, including Blackstone, Canada's largest pension, and Singapore's sovereign wealth fund Temasek. Globally, the biggest multistrategy managers like Citadel and Xiong's old firm Millennium continue to crowd out smaller competitors by poaching talent and hoovering up assets. Locally, the Asian hedge fund market has newcomers entering the fray and longtime players beefing up their rosters.

Persons: Jonathan Xiong, —, Jonathan Xiong's, beefing Organizations: Service, Arrowpoint Investment Partners, Blackstone, Temasek, Citadel, Business Locations: Singapore, Hong Kong, Asia

☆ Millennium org chart: The 47 executives behind Izzy Englander's $64 billion hedge-fund behemoth
▼ + stars: | 2024-06-05 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

A decade ago, Millennium Management managed $21.1 billion and had 18 senior people — all a part of the executive committee — listed on its website. Now the $64 billion multistrategy manager has 47 names on its leadership page split among divisions like the relatively new Office of the CIO. Executive teams are often just a firm's founder and a few trusted lieutenants. Many departures from the firm's top level have been executives launching their own funds or joining Millennium colleagues starting their own funds. Michael Gelband and Hyung Lee, who once ran fixed income and equities, respectively, brought the business-development pro Peter Hornick and the risk executive Dev Joneja with them when they launched ExodusPoint.

Persons: —, Izzy Englander, hasn't, Englander, Bobby Jain, Ajay Nagpal, Michael Chung, Peter Santoro, Izzy, Jain, Stephen Haratunian, Michael Gelband, Hyung Lee, Peter Hornick, Dev Joneja, Kurt Baker, Jonathan Xiong Organizations: Millennium Management, Business, Fidelity, Bloomberg, Citadel, Millennium Locations: BlackRock, New York, Asia

☆ Multi-strategy hedge funds in Hong Kong and Singapore are booming. Here's why they're tapping the Middle East to get to the next level.
▼ + stars: | 2024-04-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

To Danny Yong, the Middle East is still Asia. In particular, multi-strategy hedge funds, the industry subset that large allocators are desperate for thanks to their uncorrelated and consistent returns, are growing in markets like Hong Kong and Singapore. Houston-based Pan Capital is planning to hire macro PMs in Hong Kong this year. These people-heavy firms need plenty of talent to make it all work, and the relatively small size of the Singapore market, coupled with political uncertainty in Hong Kong, puts a strain on the entire system. "Managers follow allocator trends, and the Middle East has been actively allocating while other regions have slowed their deployment.

Persons: Danny Yong, firm's, Yong, there's, Kurt Baker, Jonathan Xiong, Bobby Jain, Amir Ravan, Arun Singhal, Alan Howard, Simon Sadler, Dymon, Samantha Rosenstock, Craig Thorburn, It's, Joe Cheung, —, Cheung Organizations: Business, Dymon, UAE, Millennium, Bloomberg, Pan, Segantii Capital Management, Blackpool Football Club, Man, Hong Kong Monetary Authority, Citadel Locations: Asia, Japan, Hong Kong, Singapore, Dubai, Dymon Asia, Houston, Point72, Tokyo, Sidney, Abu Dhabi, United Kingdom, London, Miami, New York, China

☆ Growing quant giant Qube just added a fundraiser focused on Asian investors
▼ + stars: | 2024-02-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

This story is available exclusively to Business Insider subscribers. Sources familiar with the firm's plans told Business Insider that it hopes Hirazumi will help bring in assets to the firm’s China strategy. The manager has four Asian offices listed on its website, including one in mainland China in Shanghai, plus others in Hong Kong, Singapore, and Mumbai. It helps that performance has been stellar: The manager is already up roughly 10% through January this year, Business Insider previously reported . Another Millennium spin-out, Kurt Baker’s 30th Century Partners, is planning to start trading this year with $3 billion out of Hong Kong, according to a Bloomberg report.

Persons: Noriaki Hirazumi, Qube, Hirazumi, Ray Dalio, Blackstone, Jonathan Xiong, Kurt Baker’s Organizations: Research, Technologies, General Investment, London, Winton Group, Business, Credit Suisse, Public, Tiger, Investment Partners, Century Partners, Bloomberg Locations: Asia, London, Japan, China, Shanghai, Hong Kong, Singapore, Mumbai, Qube, Bridgewater

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