Steve Cohen’s new hedge fund, which is expected
to launch early in 2018, is meeting resistance from investors,
Cohen wants to lock up capital for one to three years, which
is making investors wary, according to Bloomberg. Cohen
typically invests in liquid securities, so a long lockup may
seem unnecessary to investors.
The former hedge fund kingpin’s prior hedge
fund firm, SAC Capital Advisors, pled guilty to insider trading
in 2013, leading to a ban on Cohen’s ability to
take in outside capital until 2018.
Now Cohen is coming back into the industry at a time when
terms are much tougher, and it’s harder to raise
The fundraising targets of the new fund, Stamford Harbor
Capital, also have been lowered. Cohen is now seeking to raise
$3 billion to $4 billion — which is still is huge by
any standard. But it’s down from initial reports
that he was seeking to raise $10 billion, according to
A spokesman for Cohen and Stamford Harbor declined to
The stocks of companies in the Standard &
Poor’s 500 Index with the highest tax rates have
become 20 percent move volatile than the overall market as the
tax debate has raged in recent weeks, Two Sigma reports.
And more volatility is on the way, says Gerardo Manzo in Two
Sigma’s December StreetView. "Despite the likely
imminent passage of major tax reform legislation, uncertainty
about U.S. social and monetary policy appears to be trending
higher — not lower — with potential
ramifications for future financial market volatility,
employment, corporate investment, and other measures."
Hedge Fund Research said it is launching two new investable
indexes, the HFR Blockchain Composite Index and the HFR
Cryptocurrency Index, which will track the performance of hedge
funds investing in the hot new area.
The HFR Blockchain Composite Index will include "funds that
invest directly in blockchain technology, cryptocurrency or
other emerging blockchain innovations," HFR said in a release
announcing the new indices.
The HFR Cryptocurrency Index is a substrategy index of the
Blockchain Composite. HFR said it "includes all funds which
invest and trade in cryptocurrency directly, typically
generating performance through an actively managed portfolio of
cryptocurrency assets, including Bitcoin, Ethereum, Litecoin,
Ripple and many other coins, as well as new initial coin
PrimeStone Capital, a London activist hedge fund firm, has
taken a 5 percent stake in Tennant, a U.S. company, and
Nilfisk, a Danish competitor, and wants them to merge to
"create the global industry leader in the professional cleaning
equipment industry," it said in a filing with the Securities
and Exchange Commission.
"A combination of the two will generate extraordinary
returns for shareholders," PrimeStone said.
Florida-based Vintage Capital Management has taken a nearly
$20 million, or 14.9 percent, stake in Babcock & Wilcox