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Foehrenbach in at Graham; Sadrian out at Rokos
Graham Capital Management has appointed Jens Foehrenbach, formerly of Man Group, as president and co-CIO alongside Pablo Calderini.
Foehrenbach will join the $20bn macro specialist’s executive, investment and risk committees, reporting directly to founder and chairman Ken Tropin (read more).
Rokos Capital Management partner Luke Sadrian has left the firm after two-years, reported Financial News. The commodities expert traded metals during his time at the $19bn hedge fund.
Hedge fund inflows to outpace long-only and privates: Barclays
Sustained strong performance by hedge funds so far this decade will spur increased allocations in 2025, according to a survey of 325 investors by Barclays’ prime consulting team.
A net 30% of respondents, drawn from firms representing almost a quarter of the capital invested in hedge funds, said they expected to increase allocations in 2025 – up from 25% last year (read more).
Fir Tree, ARCM return external capital
Fir Tree Partners, the New York activist firm, is returning outside capital to external investors, according to a letter reported by Bloomberg News. The firm was founded in 1994 by Jeffrey Tannenbaum. The newswire also recently reported that Alp Ercil’s Asia Research & Capital Management, which managed $3bn, is converting to a family office.
Pershing Square hails Uber; Elliott mines BP shares
In two major new hedge fund stakes, Pershing Square has taken a $2.3bn Uber stake and Elliott has built a stake in UK oil major BP. Bill Ackman describes Uber’s “$1tn-plus opportunity” in autonomous vehicles. Little extra information has so far emerged on Elliott’s BP stake, reported by the FT.
RBC BlueBay CIO’s global outlook
Political turbulence and macroeconomic volatility make it a great environment for active fixed-income investors, says Mark Dowding, CIO of RBC BlueBay’s $130bn fixed-income unit.
Joining episode 32 of the AFI podcast, Dowding explains why relative value investing is well suited to the volatility and dissects the implications of Trump’s second term for markets and macroeconomics.