Shift is more than just a hunt for gains. It requires a cultural pivot. For platforms prized for their precision, liquidity and daily P&L, the move into opaque market comes with risk: Can a model born in the trading pit thrive in a market where marks come yrs, not minutes, apart?

Some hedge funds giants r mutating on the edges. After decades built around short-term mark-to-market bets, firms like Point72, Millennium and Jain Global are now pushing into private markets — a business where patience, not speed, delivers the payoff.

Still no match for Nvidia but Point72’s new AI-focused stock-picking fund has delivered gains of about 30% this year and grown to $3 billion as hype around the technology fueled a surge in AI-linked corporate valuations.

Billionaire Steve Cohen Point72 has started prelim chats with investors to raise cash for a private credit fund next year. The firm may take in at least $1 billion from external investors. Cohen himself may also invest.

A growing number of hedge fund founders are managing cash for a single investor via SMAs rather than launching a co-mingled fund. This route is becoming more viable due to the increasing dominance of large multistrategy firms https://t.co/ieqXrk4uCt

Capula's former chief US compliance officer accused the hedge fund firm of wrongfully firing him for raising concerns about the expensing of artwork and private jet travel as well as certain trading activity

Marshall Wace Ditches Plan to Hire Himanshu Gulati, Founder of Hedge Fund Antara

𝐀𝐫𝐞 𝐰𝐞 𝐚𝐭 𝐩𝐞𝐚𝐤 𝐦𝐮𝐥𝐭𝐢-𝐬𝐭𝐫𝐚𝐭? That question framed a fireside chat I moderated today with Bala Subramanian, Chief Risk Officer at Engineers Gate, on the evolution of HOT multi-strategy hedge funds.

Bobby Jain is launching a new fund led by former DE Shaw portfolio manager Syril Pathmanathan to focus on bank capital relief trades alongside its flagship multistrategy hedge fund. Has raised 600m, team will run >1b

Izzy Englander sold a roughly 15% stake in Millennium to a group of investors, helping to prepare one of the world’s largest hedge funds for a time when he no longer sits at the helm. Valuation: $14 billion.

EXCLUSIVE: Millennium Management is raising $5 billion in a new fund to invest in private market opportunities, extending the firm’s reach beyond its core business of trading mostly liquid assets

A team of traders specializing in convertible bonds at multistrategy hedge fund LMR Partners is on track for record yearly gains as a surge in issuances and a pickup in corporate actions create a fertile hunting ground for the arbitrageurs

Bain joins Abu Dhabi Investment Authority in buying a minority stake in a Canadian managed accounts provider Innocap amid growing interest among investors for customized, transparent and capital efficient ways to allocate to hedge funds

SCOOP: The $1 trillion ADIA has ramped up its use of separately-managed accounts to deploy large chunks of money across dozens of hedge funds. Its hedge fund exposure via SMAs has hit $40 billion this year. It continues to also invest in co-mingled funds

On Wednesday, some of the finest (& fiercest) minds gathered to debate how to thrive in the Darwinian business we call hedge funds. Ideas over coffee, gossip over lunch & theories over drinks were exchanged, a few existential questions were discussed. More https://t.co/l2ObbrZOjS

MILESTONE: Assets in the global hedge fund industry have surged to a record $5 trillion bolstered by inflows and performance gains. HFRI Fund weighted index +9.5% YTD, asset weighted 7% https://t.co/MMMUiUpxLy

True prophecy isn’t opinion. It’s the heart of God revealed.

All set for Bloomberg hedge fund forum today!

The line item in Point Bonita’s April investor letter amounted to the ultimate Wall Street boast: “% of Positive Months: 100%”. Now it has been thrust into the spotlight by its exposure to the sudden collapse of First Brands

10 years at Bloomberg today, a decade reporting on the rise, reinvention & resilience of hedge funds. Grateful for the beautiful minds in the industry, trusted sources & curious readers who have made it all worthwhile. Still learning. Still curious.

Funds including Sona, Apollo and Axebrook are shorting the debt of Adler Pelzer Holding GmbH on a bet that the auto-parts manufacturer will struggle to refinance its debt, according to people familiar with the matter