Opalesque Roundup: Tech AI and cryptocurrency exposures drove returns in February: hedge fund news

In the week ending March 8, 2024, HFR said that Hedge funds rose through February led by technology, artificial intelligence and cryptocurrency exposures, leading broad-based gains across all strategies and extending the industry's four-month performance to +8.75 percent, the strongest performance since the four-month period months ending March 2021. The HFRI Fund Weighted Composite Index (FWC) rose approximately +2.5 percent in February, while the HFRI 500 FWC Index added +2.6 percent. Specialized cryptocurrency funds, which are separate from the HFRI index, also rose, with the HFR cryptocurrency index gaining +31.2 percent on the month.

In new releases A former partner at ValueAct Capital Management, one of Wall Street's best-known activist investment firms, will start his own firm, according to people familiar with the matter, marking one of the highest-profile activist firm launches in years; Silicon Valley venture capital giant Andreessen Horowitz aims to raise $6.9 billion from investors for a new collection of funds, including two focused on artificial intelligence, according to a person familiar with the matter, and Coryell Investment Management, which is starting Phillip Zeigler. , an Elliott Investment Management alumnus is planning a new event-driven fund focused on industrial economics, according to people with knowledge of the matter.

Meanwhile, Swedish global investment manager EQT has closed its second fund in a fortnight, raising €3.6bn ($3.9bn) in total fee-generating commitments, including co-investments, to Future EQT; Grayscale Advisors (GSA), an SEC registered investment advisor, announced the launch of Grayscale Dynamic Income Fund (GDIF), the firm's first actively managed cryptocurrency. .....

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