Latest news with #OrkunKilic
Yahoo
28-03-2025
- Business
- Yahoo
Ex-Paulson Partner Restarts Hedge Fund With Qube Among Backers
(Bloomberg) -- Orkun Kilic, who shuttered his hedge fund more than a year ago, is relaunching with money from clients including one of the largest multistrategy investment firms. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes His London-based Berry Street Capital Management will start trading as soon as next month with capital from Qube Research & Technologies, one of two separately managed accounts it has secured, people with knowledge of the plans said. The accounts represent a combined $200 million commitment to Berry Street, one of the people said, asking not to be identified because the details are private. It also plans to launch a fund aimed at other external investors later this year, they added. Kilic, a former Paulson Europe LLP partner, will revive the event-driven strategy he pursued before closing the firm. At its peak Berry Street managed over $900 million. The move comes at an uncertain time for mergers and acquisitions — the deals on which event-driven firms bet. Bankers had anticipated the new US administration would foster a spate of dealmaking fueled by deregulation and renewed economic optimism. But uncertainty over how President Donald Trump's agenda will be implemented — particularly its plans for tariffs and a peace deal in Ukraine — have spooked markets and kept dealmakers on the sidelines. Berry Street is the latest in a string of hedge funds to get cash from QRT, which has allocated capital to about 45 external managers including firms such as Davidson Kempner Capital Management. London-based QRT manages about $28 billion. Representatives for Berry Street and Qube declined to comment. Kilic founded Berry Street Capital in 2019 with over $400 million of initial backing from Schonfeld Strategic Advisors and Partners Capital. But the firm returned capital to outside investors in 2023, blaming rising interest rates and regulatory uncertainty for creating an investment landscape that was not conducive to achieving sufficient risk adjusted returns. Kilic remained active but switched to private investing on behalf of friends and family, the person added. Event-driven fund strategies, which can bet on a variety of corporate events, made 8.7% last year and were up about 0.8% during the first two months of this year, according to the Bloomberg Event Driven Hedge Fund Index. Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? Israel Aims to Be the World's Arms Dealer ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
27-03-2025
- Business
- Bloomberg
Ex-Paulson Partner Restarts Hedge Fund With Qube Among Backers
Orkun Kilic, who shuttered his hedge fund more than a year ago, is relaunching with money from clients including one of the largest multistrategy investment firms. His London-based Berry Street Capital Management will start trading as soon as next month with capital from Qube Research & Technologies, one of two separately managed accounts it has secured, people with knowledge of the plans said. The accounts represent a combined $200 million commitment to Berry Street, one of the people said, asking not to be identified because the details are private.
