Biopharma Hedge Funds Diverge in March as Avoro Surges Hedge funds specializing in life sciences and fledgling biopharma stocks posted varied results in March, when most stock indices fell sharply. Many funds made money, including one that surged by doubl...

Avoro Capital Advisors rose 10% in March, driven by a notable surge in United Therapeutics on positive Phase 3 trial results. This performance contrasts with the broader market dynamics, particularly impacting hedge fund strategies in biopharma. www.institutionalinvestor.com/article/biop...

Life Science IPOs Catch a Second Wind The IPO calendar is picking up again in biopharma, buoyed by a pair of recent offerings that delivered strong returns. Kailera Therapeutics’ record-setting debut last week, followed closely by Alamar ...

Recent performances of Kailera Therapeutics and Alamar Biosciences have led biopharma issuers, many with hedge fund backing, to renew their IPOs. As six companies have filed to go public recently, market sentiment is visibly shifting. www.institutionalinvestor.com/article/prem...

Irenic Takes Activist Playbook to a New Industrials SPAC An increasingly prominent and fast-growing activist investor is raising money for a new blank-check company.Irenic Capital Management has filed plans to raise $220 million for Irenic Acquisition, a sp...

Irenic Capital Management is raising $220 million for a new SPAC, aiming to target established aerospace, defense, and electrification-linked industrial businesses, amidst growing demand and supply chain constraints. www.institutionalinvestor.com/article/iren...

Dana Johns, Senior Portfolio Manager, Private Equity, Maryland State Retirement and Pension System: The Art of the Private Equity Deal The Art of the Private Equity DealDana Johns’s early career aspirations were focused on curating contemporary art exhibitions, but in a wonderfully circuitous route her post undergraduate work experie...

Dana Johns leads a private equity portfolio exceeding $11 billion at the Maryland State Retirement and Pension System, having increased its allocation target significantly over the last decade.
www.institutionalinvestor.com/article/mark...

Sophia Cheng, CIO, Cathay Financial Holdings: A Masterclass in the Art of Patience A Masterclass in the Art of Patience Sophia Cheng, CIO of Cathay Financial Holdings in Taiwan is an investor who’s always focused on the big picture. In overseeing the investments at Taiwan’s largest ...

Sophia Cheng, CIO of Cathay Financial Holdings, manages nearly $400 billion in assets, with over 60% allocated to fixed income. Her approach emphasizes patience and a long-term vision amidst global market shifts. www.institutionalinvestor.com/article/mark...

Investor Advocates Ask FASB to Reconsider Guidance on Secondaries Three investor advocates are asking the Financial Accounting Standards Board to reconsider guidance that allows private managers to write up the value of the secondaries they purchase, a practice they...

Investor advocates urge FASB to reassess its guidance allowing secondary fund managers to mark up purchases, risking inflated returns. This raises concerns about market distortions and implications for capital flows in private equity. www.institutionalinvestor.com/article/inve...

ETFs Are Quietly Rewiring Institutional Portfolios Institutional investors have long used exchange-traded funds as a stopgap — equitizing cash or maintaining market exposure while shifting assets between managers.Increasingly, ETFs are doing more than...

U.S. and Canadian institutions have doubled their ETF use in five years, now at $337 billion, notably leveraging them to enhance tactical flexibility. This shift is redefining portfolio construction for asset managers. www.institutionalinvestor.com/article/etfs...

The Allocator Collective’s Alex Ambroz: AI Can Help, But Never Replace Human Intuition As the industry contemplates how to incorporate artificial intelligence into their operations, Alex Ambroz, CEO of the Allocator Training Institute, says that while AI may be here to stay, allocators ...

New data reveal that most LPs perceive AI as essential for the future, acknowledging the obsolescence of their investment models. Ambroz asserts that while AI can enhance efficiency, it will not replace the necessity for human investment staff. www.institutionalinvestor.com/article/allo...

Biopharma Hedge Funds Diverge in March as Avoro Surges Hedge funds specializing in life sciences and fledgling biopharma stocks posted varied results in March, when most stock indices fell sharply. Many funds made money, including one that surged by doubl...

Avoro Capital Advisors topped biopharma hedge funds in March, up 10% on United Therapeutics' 18% surge. Fund performance is increasingly driven by single-stock moves, not broad market shifts.1
www.institutionalinvestor.com/article/biop...

Investor Advocates Ask FASB to Reconsider Guidance on Secondaries Three investor advocates are asking the Financial Accounting Standards Board to reconsider guidance that allows private managers to write up the value of the secondaries they purchase, a practice they...

Investor advocates urge the FASB to rethink guidance allowing private equity managers to inflate secondary fund valuations, which critics claim distort performance perceptions. This could lead to significant ramifications for investor confidence.
www.institutionalinvestor.com/article/inve...

Survey: Most Allocators Don’t Understand the Risks in Their Own Portfolios As private markets grow in size and complexity, allocators are struggling to keep up with the rapidly changing investment landscape, with many limited partners lacking a full understanding of the unde...

Only 8.8% of allocators understand the risks in their portfolios, with over 42% fearing they will fall behind in five years. Many see AI as critical for navigating the complexities of private markets. www.institutionalinvestor.com/article/surv...

Investor Advocates Ask FASB to Reconsider Guidance on Secondaries Three investor advocates are asking the Financial Accounting Standards Board to reconsider guidance that allows private managers to write up the value of the secondaries they purchase, a practice they...

Investor advocates urge the FASB to reconsider guidance allowing private managers to mark up the value of secondary purchases. This practice raises concerns over inflated reported returns and potential risks for individual investors. www.institutionalinvestor.com/article/inve...

BlackRock: AI Is Making Inflation Worse Before It Makes It Better Until recently, investors believed AI would force companies to rethink their business models, fuel productivity growth — and ultimately push inflation lower.That’s all changed, at least for the time b...

BlackRock projects over $5 trillion in capital expenditures through 2030 to enable AI-driven productivity, creating persistent inflationary pressures. Hedge funds may capitalize on more volatile market conditions as supply shocks become commonplace.
www.institutionalinvestor.com/article/blac...

After a Record Year, TCI Hits a Speed Bump TCI Fund Management is off to a rough start in 2026 after a significant drop in March.The London-based hedge fund headed by Chris Hohn was down 11.9 percent, a bigger loss than those of many other hed...

TCI Fund Management's Chris Hohn reported an 11.9% drop in March, significantly worse than broader markets, with the S&P 500 down 4.6%. This decline impacts institutional investors relying on hedge fund stability.
www.institutionalinvestor.com/article/tci-...

Inside Glenview’s Midmonth Reversal A prominent hedge fund that fell by double digits in the first quarter is already near breakeven for the year.Glenview Capital Partners was off 10.13 percent for the first three months of the year aft...

Glenview Capital Partners, down 10.13% in Q1 after losing 7.16% in March, has recovered to near breakeven by mid-April, reflecting potential improvements across other hedge funds post-market rebound.
www.institutionalinvestor.com/article/prem...

Performing Under Constraints: How a Tribal Family Office Reduced Cash Drag Tribal allocators invest under liquidity and cultural constraints that most traditional family offices don’t have to deal with. Many of these relatively new investment pools are backed by casino reven...

The Saginaw Chippewa Indian Tribe's investment office reduced the performance gap among its accounts from 44 to 11 basis points by automating capital deployment. This efficiency narrows discrepancies between inflow and outflow-driven accounts.
www.institutionalinvestor.com/article/perf...

Survey: Most Allocators Don’t Understand the Risks in Their Own Portfolios As private markets grow in size and complexity, allocators are struggling to keep up with the rapidly changing investment landscape, with many limited partners lacking a full understanding of the unde...

New data reveals that only 8.8% of allocators understand their portfolio risks, with 42% fearing obsolescence in five years. As complexity grows, LPs increasingly turn to AI, highlighting the urgency for technological integration in investment processes.
www.institutionalinvestor.com/article/surv...

As PE Deals Stall, Allocators Pull Back on New Commitments While GPs Stay Hopeful Allocators are pulling back from new private equity commitments as cash remains trapped in illiquid portfolios, forcing investors to ration capital even as deal values climb and fund managers talk up ...

S&P Global Market Intelligence reports a 22% drop in private equity deal volume year-over-year, while values increased to $154.64 billion. This leads allocators like University of Rochester's Rob Rahbari to cut new commitments amid liquidity issues. www.institutionalinvestor.com/article/pe-d...

As PE Deals Stall, Allocators Pull Back on New Commitments While GPs Stay Hopeful Allocators are pulling back from new private equity commitments as cash remains trapped in illiquid portfolios, forcing investors to ration capital even as deal values climb and fund managers talk up ...

According to S&P Global Market Intelligence, private equity deal volume fell 22% year-over-year, even as total deal value rose to $154.64 billion. Allocators are now forced to be more selective as they navigate tight budgets.
www.institutionalinvestor.com/article/priv...

BlackRock: AI Is Making Inflation Worse Before It Makes It Better Until recently, investors believed AI would force companies to rethink their business models, fuel productivity growth — and ultimately push inflation lower.That’s all changed, at least for the time b...

BlackRock forecasts that $5 trillion in capital expenditures by 2030 on AI-related supplies could exacerbate inflation. This development poses challenges for policymakers grappling with tighter financial conditions. www.institutionalinvestor.com/article/blac...

Regulatory Clarity Is Steering Investors Toward Guarded Crypto Exposure Regulatory changes are prompting institutional investors to increase exposure to digital assets — but they’re being cautious and investing through products rather than going direct.A March report from...

Three quarters of surveyed investors plan to increase digital asset allocations this year, with 29 percent targeting more than 5% of their portfolios. This cautious approach reflects demand for regulatory clarity in asset management.
www.institutionalinvestor.com/article/regu...

After a Record Year, TCI Hits a Speed Bump TCI Fund Management is off to a rough start in 2026 after a significant drop in March.The London-based hedge fund headed by Chris Hohn was down 11.9 percent, a bigger loss than those of many other hed...

TCI Fund Management, led by Chris Hohn, experienced an 11.9% decline in March, exceeding the broader market losses of 4.6% for the S&P 500. Such significant losses indicate the challenges of concentrated long strategies. www.institutionalinvestor.com/article/tci-...

Performing Under Constraints: How a Tribal Family Office Reduced Cash Drag Tribal allocators invest under liquidity and cultural constraints that most traditional family offices don’t have to deal with. Many of these relatively new investment pools are backed by casino reven...

The Saginaw Chippewa Indian Tribe’s capital allocation model reduced the performance gap between accounts from 44 to 11 basis points by systematically deploying idle cash. This development supports tribal allocators facing unique investment challenges. www.institutionalinvestor.com/article/perf...

Discovery’s Defensive Playbook Pays Off Despite March Loss Discovery Capital Management’s three-year surge took a breather last month.The hedge fund headed by Tiger Cub Robert Citrone reported a 4.1 percent loss for March, according to its latest monthly clie...

Discovery Capital Management reported a 4.1% loss for March but rose 5.7% for the quarter. This performance contrasts with many hedge funds facing losses during the same period, highlighting its strategic hedging approaches.
www.institutionalinvestor.com/article/prem...

Institutional Investors Take Note: the OpenClaw Security Threat Is No Longer Theoretical If you are an asset owner or manager still considering OpenClaw, stop. A new active malware campaign, designated “GhostClaw” and identified by JFrog Security Research and Jamf Threat, is in the wild, ...

The emergence of GhostClaw, a malware targeting AI system permissions, presents significant operational risks for institutions deploying OpenClaw. Asset managers must reevaluate security protocols to guard against such vulnerabilities.
www.institutionalinvestor.com/article/inst...

The coming decade will challenge financial professionals, emphasizing the need for adaptive learning and resilient decision-making. Peer collaboration and community-driven education are crucial in navigating market complexities. www.institutionalinvestor.com/article/mark...

As PE Deals Stall, Allocators Pull Back on New Commitments While GPs Stay Hopeful Allocators are pulling back from new private equity commitments as cash remains trapped in illiquid portfolios, forcing investors to ration capital even as deal values climb and fund managers talk up ...

Allocators are reducing new private equity commitments, with deal volume down 22% year-over-year, as cash remains locked in illiquid portfolios. This trend is forcing CIOs to ration capital and make select investments. www.institutionalinvestor.com/article/priv...

A March report reveals that 75% of institutional investors plan to boost digital asset allocations, with 29% designating over 5% of their portfolios to this sector. Cautious approaches reflect a demand for clearer regulatory frameworks. www.institutionalinvestor.com/article/regu...

A focus on education is essential for investment professionals facing future market complexities, as seen in LSU students managing real capital and learning from failures. This approach aims to cultivate resilience in decision-making. www.institutionalinvestor.com/article/mark...

Middle East Markets Diverge Under Pressure Middle East equity markets are being tested by a new bout of geopolitical volatility, and not all of them are responding the same way.Trading data from the weeks following the February escalation show...

Trading data reveals that during recent geopolitical volatility, Saudi Arabia's notional trade increased by 32%, contrasting with smaller markets like Bahrain, which faced a 56% decline in liquidity.
www.institutionalinvestor.com/article/midd...