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Sunday, 22 January 2017
Last updated 1 day ago
May 24 2010 | 7:07pm ET
Mark Carhart used to run one of the largest and most well-respected hedge fund in the world from a lofty post at Goldman Sachs. Now, he’s building his new firm from the ground up.
Carhart’s Kepos Capital has made at least three hires as the former Global Alpha chief prepares to launch the alternative beta shop, HedgeFund.net reports. According to the professional networking Web site LinkedIn, Noel Flynn has been named chief financial officer of the New York-based firm, Brian Daly has joined as general counsel and Brenna Ingersol in a marketing capacity.
Flynn is the former director of finance and operations at hedge fund Satelitte Asset Management, which folded last year. Ingersol formerly worked at One East Partners.
Carhart told Reuters in October of his plans to launch a new firm, but his year-long non-compete agreement with Goldman Sachs did not expire until last month. The former co-chief investment officer of Goldman’s quantitative equity strategies group reportedly hopes to raise up to $5 billion for his new fund.
Carhart and his partner, Raymond Iwanowski, left Goldman last year after their one-time Cadillac of hedge funds crashed and burned. Global Alpha’s run of unprecedented success came to a sudden halt in 2007, with the once-$12 billion fund losing 40% that year and continued to hemorrhage assets and post poor performance both in 2008 and last year.