Azentus Capital, expected to be one of the largest hedge fund launches of the year, is a reality. The firm, set up by now-former top Goldman Sachs proprietary trader Morgan Sze, was founded on Monday, according to a filing with the Hong Kong Securities and Futures Commission.
Azentus' birth is no surprise; it has been inevitable since Goldman decided to shutter its proprietary trading business in September. Nor has the firm waited for its official registration—or Sze's official departure from Goldman, which took place on Feb. 16—to begin laying the groundwork for its debut: Sze hired former Boyer Allan Investment Management CEO Roger Denby-Jones as chief operating officer in October.
Sze and Denby-Jones are expected to be joined by about 30 other employees at the new hedge fund, set to launch its maiden vehicle in the second quarter. Four other employees were listed in the filing, all former members of Sze's Asia prop. trading team at Goldman: Bruce Kirk, Mohan Rajasooria, Jenny Sun Kin-nam and Jeffrey Zielinski.
The team works at one of Hong Kong's most prestigious office buildings, the ICBC Tower, Reuters reports.
Azentus is expected to raise more than US$1 billion, following the debuts of two other former Goldman prop. traders' hedge funds: Pierre Henri-Flamand's Edoma Capital, which raised US$1.3 billion, and Eric Mandelblatt's Soroban Capital Partners, which raised more than US$500 million.