Wednesday, 1 October 2014
Last updated 7 hours ago
Mar 9 2010 | 3:52am ET
A former DKR Oasis Management hedge fund manager and a former Deutsche Bank proprietary trading desk chief have founded a Hong Kong-based relative value shop.
James Tu and Wang Bing are among the four co-founders of Nine Masts Capital. The new firm plans to launch its debut fund in the second quarter, a capital-structure arbitrage fund investing in Asian stocks and bonds, Bloomberg News reports. Tu serves a senior portfolio manager, and Wang as chief investment officer.
Nine Masts’ portfolio will be divided among four strategies. The fund will seek out opportunities in long/short credit within a single company, paired credit and equity investments, arbitrage and event-driven situations.
Tu managed convertible bonds, volatility and equity arbitrage investments for DKR Oasis, where he had worked since 2002. Wang set up Boaz Weinstein’s Saba Principal Strategies prop. desk in Asia, leaving the firm in December 2008 when Deutsche Bank decided to shutter Saba. Weinstein last year founded his own hedge fund, Saba Capital Management.
Tu and Wang are joined at Nine Masts by Ron Schachter, another Saba veteran, and Glyn Treasure, the new firm’s chief operating officer, who joined from JPMorgan Chase.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...