Thursday, 31 July 2014
Last updated 13 min ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…