Lansdowne exits Prudential short after ‘meaningful’ losses (Fund News)
Bloomberg reports that Lansdowne Partners Ltd., the biggest European hedge-fund firm focused on stock picking, said it abandoned a more than four-year bearish bet against Prudential Plc (PRU) after suffering “meaningful” losses.
Benros Capital Partners LLP, a London hedge fund founded by former Goldman Sachs Group Inc. (GS) traders, is shutting down after less than two years as shareholder Brummer & Partners AB pulled its investment.
Legg Mason To Buy Fauchier Partners From BNP Paribas Unit (Fund News)
Asset manager Legg Mason Inc. on Thursday said the company and its alternative asset managing affiliate Permal Group have entered into definitive agreement to acquire Fauchier Partners from BNP Paribas Investment Partners, an affiliate of French lender BNP Paribas. The company did not disclose the terms of the deal.