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But we saved everything 🙂.
Nishant Kumar reports that Abu Dhabi’s ADIC has provided about $1 billion in new capital to the macro hedge fund Deem. The fund now has a $15 billion pool to invest in hedge funds.
This follows another recent major backing by ADIC after its investment in ExodusPoint.
Kumar previously reported that Millennium is set to back a new quantitative hedge fund led by Paul Dou, a former Citadel researcher, with plans to manage over $1 billion (link). In a separate development, BlueCrest called the UK less attractive for business after losing a $265 million Supreme Court case over trader tax treatment (link). These updates follow a string of large capital moves in the hedge fund sector.