Discovery Capital Management LLC, the $15 billion macroeconomic hedge-fund firm run by Robert Citrone, slumped in April to bring its losses this year to 12 percent, according to an e-mail the firm sent to investors.
Pine River Capital Management LP, the $13.9 billion hedge-fund firm that’s diversifying beyond residential mortgage bonds, hired James Lee from Barclays Plc to help it buy assets from banks, according to a person familiar with the matter.
Tudor Investment Corp., the $11.6 billion hedge fund that seeks to profit from macroeconomic events, is planning its first equity funds since stock manager James Pallotta left the firm in 2009, according to four people with knowledge of the matter.
Pine River Capital Management LP, manager of one of the most profitable U.S. hedge funds last year, will start a China fund with as much as $150 million in October, a marketing document seen by Bloomberg News showed.
Global banks and asset managers are opening hedge funds in Asia for the first time since the 2008 financial crisis, putting pressure on smaller firms that are already struggling to hold onto investors.
Moore Capital Management LLC, the $15 billion hedge fund run by Louis Moore Bacon, cut 10 to 15 investment jobs as it restructures one of its equity teams, according to three people with knowledge of the matter.
Hedge-fund firms Saba Capital Management LP and Pine River Capital Management are piling into closed-end debt funds with share prices that plunged below the value of their assets by the most since the credit crisis.