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

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of