Tower Research Vet Sets Up Hedge Fund Shop

Jan 11 2011 | 9:05am ET

Clayton DeGiacinto has left Tower Research Capital to launch his own financial advisory firm, Axonic Capital. DeGiacinto has spun out money he has been managing for the past two years into an evergreen long/short credit fund, a source close to the fund told FINalternatives.
The Axonic Credit Opportunities Fund and the Cayman-based Axonic Credit Opportunities Overseas Fund launched earlier this month with an estimated $140 million.
DeGiacinto, a former captain in the U.S. Army, spent 21 months at Tower Research Capital where he was a portfolio manager for a distressed mortgage fund. Prior to that he was a vice president at Goldman Sachs, where he specialized in adjustable mortgages. 

DeGiacinto is a graduate of United States Military Academy at West Point and has an MBA from Wharton.

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