Credit Suisse Commodities Prop. Traders To Launch Blackstone-Backed Hedge Fund

Sep 24 2010 | 1:12pm ET

A top proprietary trader and his team are leaving Credit Suisse to found a hedge fund just months after the U.S. passed a law banning prop. trading.

George Taylor, better known as Beau, and seven others from Credit Suisse’s commodities proprietary trading desk plan to set up the hedge fund, which will be backed by the Blackstone Group. The still-unnamed fund will receive $150 million from the alternative investments giant.

Taylor’s hedge fund will invest in commodities and energy as well as currencies and other macro strategies.

In addition to Taylor, global head of commodities arbitrage trading, the new fund will also feature Trevor Woods, Credit Suisse’s top energy arbitrage trader, The Wall Street Journal reports. Woods will serve as CEO and Taylor as chief investment officer.

For its part, Credit Suisse said the move would not adversely impact its Asia-Pacific business. The firm has seen its prop. trading ranks thin from 250 to about 100.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...