Goldman Prop. Trader Sze To Launch $1B Fund Friday

Mar 31 2011 | 3:04am ET

One of the largest hedge fund launches since the beginning of the financial crisis is set for tomorrow.

Goldman Sachs’ former top proprietary trader, Morgan Sze, will offer his Azentus Capital on Friday. The multi-strategy fund has won commitments in excess of US$1 billion, Reuters reports.

Hong Kong-based Azentus will debut just over a month after Sze’s official departure from Goldman, which is cutting its prop. trading operating to come into compliance with new U.S. banking regulations. Azentus won a license from the Hong Kong Securities and Futures Commission in late February.

Azentus boasts former Boyer Allan Investment Management CEO Roger Denby-Jones as chief operating officer, as well as four former members of Sze’s trading team in Hong Kong. The new firm also boasts a prestigious address in Hong Kong’s ICBC Tower.

Azentus is the second Goldman prop. trading veteran to net US$1 billion for his new hedge fund: His predecessor, Pierre-Henri Flamand, has raised some US$1.3 billion for his Edoma Capital, which launched in November.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

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

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of