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Cantor in talks to buy O’Connor multi-strategy unit from UBS: report
UBS is in talks with Cantor Fitzgerald to sell its O’Connor multi-strategy unit after more than three decades of ownership, according to a Bloomberg report.
The wire said the deal could involve a possible revenue sharing agreement. The Swiss bank is looking to shake up its holdings to meet tighter capital rules.
Related: Millennium in talks with Goldman’s Petershill – FT report
Analysis: Multi-strategy’s era of deal-making hots up with Verition stake sale
Context: ‘A true diversifier, unlimited demand’ – Blackstone’s verdict on top pod-shops
New podcast: Q1 hedge fund trends
This week on the AFI podcast, Will is joined by Declan Quilligan, Head of Hedge Fund Services at Citco, to discuss industry trends in Q1 based on the firm’s latest quarterly research.
The first quarter was anything but quiet, comprising the start of the Trump presidency in the US, the emergence of the Deep-Seek AI model, an unprecedented German fiscal package and growing speculation over US trade policy ahead of the early April announcement on tariffs.
Listen via embed below, Apple or Spotify. See topic timings in the main article.
Brevan Howard rebounds in April
Brevan Howard’s two main funds made strong progress in April, prospering from market turbulence which caught out many macro funds.
Its $11bn+ Master fund made close to 4.5%, closing its loss YTD to 1.5%. Alpha Strategies, now its largest fund with $12bn+, made 2.6% in April and is now up 4% YTD.
HFR’s main macro index was down 2.7% in April, a month dominated by sharp moves across asset classes driven by US trade policy announcements.
Mediobanca’s RAM AI starts multi-strategy platform
RAM Active Investments, owned by Italy’s Mediobanca Group, is raising money for a new multi-strategy platform in a new extension of its investment range. Read more.
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