When portfolio manager David Lipner said he was quitting billionaire Izzy Englander’s Millennium Management to join a rival, the hedge fund countered with an unusual proposal: A one-year paid sabbatical and an incentive upon return if Lipner stayed.

Ken Griffin’s Citadel churned out a record $16 billion in profit for clients last year, outperforming the rest of the industry and eclipsing one of history’s most successful financial plays.

A handful of giant firms are gaining dominance over the hottest corners of the hedge fund industry. This year showed why.

A $200 billion corner of the hedge funds industry dominated by computer-driven algorithms has been making the most of wild swings in global markets, putting many of those funds on course for a record year of gains.

Former Enron Corp. trader Ulf Ek guided his Northlander Commodity Advisors LLP hedge fund to a 50% return this year, capping a series of gains among commodities-focused investors profiting from unprecedented turmoil in global energy markets.

After attracting crypto firms, property investors and Russian billionaires, Dubai is drawing a new crowd: hedge fund managers.

Hedge fund giant Marshall Wace is ringing alarm bells about the booming SPAC market after building up long and short bets on blank-check companies that total more than $1 billion.

Firms run by Ray Dalio, Michael Hintze, Adam Levinson and others suffered their worst-ever losses last month.