Wednesday, 22 October 2014
Last updated 13 hours 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...