Y-Intercept raises $1.7bn
Quantitative firm Y-Intercept has raised more than $1.7bn in a hugely successful new Asia-Pacific launch, reports Bloomberg.
Blackstone, CPPIB and Morgan Stanley’s fund of funds business are among the backers. The firm has been backed by Schonfeld for the past seven years and the New York multi-strat retains exclusive access to its core product.
Related: AFI’s Power25 Hedge Fund Allocator Ranking
Hedge funds on course to beat 2020 return: Citco
Hedge funds returned 2.1% in October as they continue to close in on a strong year of gains, according to Citco data. Read on AFI.
Verition expands energy trading
US manager Verition Fund Management is hiring in energy and opened a Houston office in April. Bloomberg reports assets have grown to $13.7bn allowing it to make key 10 key trader hires so far this year.
Related: Multi-Strategy Power List
Marshall Wace returns $3.1bn
Marshall Wace is returning $3.1bn from two key products to check strong recent growth at the London firm.
The returns early next year will trim assets to $75bn, Bloomberg reported, mostly coming from its flagship Eureka fund and about $765m from TOPS.